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    305 Frankford Ave Lubbock, TX 79416

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    305 Frankford Ave Lubbock, TX 79416

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    • Strip malls
    • 11,270 SF
    • 1.16 lot acres
    For Lease
    $18 SF/Yr
    View Listing →
    Retail Space Near Texas Tech For Lease
    $18 SF/Yr
    11,270 SF

    Retail Space Near Texas Tech

    Retail space for sale near a busy Lubbock intersection.

    305 Frankford Ave, Lubbock, TX 79416
    View Listing
    Property ID
    US83-4128661
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $570,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Daiquiris to Go / (Bike/Boat/Book/etc) Store / Bar & Pub
    • Regional Finance / Loan Service
    • Pizza Hut / Restaurant
    • Locker Room Haircuts / Hair Salon
    • SK Games / (Bike/Boat/Book/etc) Store / Arcade & Gaming Center

    Property Details for 305 Frankford Ave

    Year built
    2005
    Lot size
    1.16 lot acres
    Property size
    11,270 SF
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    R313159
    APU
    R313159

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $450,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $691,000
      Market price range: $282k - $691k

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $450,000
      Current use
      OFFICE BUILDING
      $745,000
      Change: +65% Conversion: Moderate
      RETAIL STORES
      $715,000
      Change: +59% Conversion: Easy
      WAREHOUSE, STORAGE
      $390,000
      Change: -14% Conversion: Difficult

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Lubbock
    County
    Lubbock
    State
    Texas
    Longitude
    -101.939
    Latitude
    33.5939
    CBSA code
    31180
    CBSA name
    LUBBOCK, TX METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $23,308
    $252,500
    $1,149,849
    $1,402,349
    -
    $252,500
    $1,149,849
    $1,402,349

    Comparable in this City

    • Value Estimation
      $880,000
      20,121 SF

      405 Slide Rd

      SHOPPING CENTER, STRIP CENTER • 20,121 SF
      405 Slide Rd, Lubbock, TX 79416-4356
      View Details
    • Value Estimation by Request
      9,450 SF

      5707 4th St

      SHOPPING CENTER, STRIP CENTER • 9,450 SF
      5707 4th St, Lubbock, TX 79416-4243
      View Details
    • Value Estimation by Request
      7,140 SF

      5718 4th St

      SHOPPING CENTER, STRIP CENTER • 7,140 SF
      5718 4th St, Lubbock, TX 79416-4242
      View Details
    • Value Estimation by Request
      13,474 SF

      5409 4th St

      SHOPPING CENTER, STRIP CENTER • 13,474 SF
      5409 4th St, Lubbock, TX 79416-4347
      View Details
    • Value Estimation
      $715,000
      17,510 SF

      417 Frankford Ave

      SHOPPING CENTER, STRIP CENTER • 17,510 SF
      417 Frankford Ave, Lubbock, TX 79416-4188
      View Details
    • Value Estimation by Request
      9,903 SF

      5407 4th St

      SHOPPING CENTER, STRIP CENTER • 9,903 SF
      5407 4th St, Lubbock, TX 79416-4348
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      70,479 SF

      Grocery-Anchored Shopping Center in Lubbock

      70,479 SF shopping center near Texas Tech University.
      405 Slide Rd, Lubbock, TX 79416
      View Details
    • $850,000
      4,800 SF

      Remodeled Commercial Building on Slide Road

      Remodeled 4,800 SF commercial building with flexible space.
      5211 13Th St, Lubbock, TX 79416
      View Details
    • Contact for pricing
      71,020 SF

      Lubbock Pad Site Opportunity

      Prime 1.63-acre pad site in a high-traffic retail corridor.
      4 & Milwaukee Ave, Lubbock, TX 79416
      View Details
    • Contact for pricing
      1,860 SF

      Retail Space Available For Rent

      Retail space available for lease in Lubbock, Texas.
      6309 4Th St, Lubbock, TX 79416
      View Details
    • Contact for pricing
      38,580 SF

      Versatile Commercial Property on Clovis Road

      38,580 SF building on 3.39 acres near Stars & Stripes.
      5013 Clovis Rd, Lubbock, TX 79416
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr

      Retail Space Near Texas Tech

      Retail space for sale near a busy Lubbock intersection.
      305 Frankford Ave, Lubbock, TX 79416
      View Details
    • $18 SF/Yr
      2,806 SF

      New Retail Space in Lubbock

      New retail space in high-traffic Lubbock shopping center.
      4525 Milwaukee Ave, Lubbock, TX 79416
      View Details
    • Contact for pricing

      Premier Retail Destination in Lubbock

      Retail space in high-traffic area with diverse tenant mix.
      417 Frankford Ave, Lubbock, TX 79416
      View Details
    • Contact for pricing

      New Shopping Center in Lubbock

      Newly constructed shopping center in high-traffic area available for lease.
      6006 4Th St, Lubbock, TX 79416
      View Details
    • $22 SF/Yr
      1,243 SF

      Retail Space in West Wind Center

      Retail space in high-traffic shopping center, suitable for any retail.
      5510 4Th St, Lubbock, TX 79416
      View Details
    • $15 SF/Yr
      9,806 SF

      New Retail Development For Lease

      New retail development with high visibility in growing neighborhood.
      804 N Frankford Ave, Lubbock, TX 79416
      View Details

    Property Visit Statistics

    • Visits by month
      3.4k
    • Visitors by month
      4.8k
    • Avg Time on site
      25 min
    View Listing
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    Lubbock, TX 79416
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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