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Property profile & analytics
OFF-MARKET
Estimated value
$1,390,000
Warehouses
3211 116th St Lubbock, TX 79423-6540
Entity Owned
6-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US82-6481051
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
2011
Total area
30,600 SF
Lot
10 ac (435,469 SF)
Zoning code
19
APN
R54929
UPID
US82-6481051
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
806 Storage Solutions Storage Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.39M
Owner & transaction history
806 Storage Solutions LLC · 6 yrs held
806 Storage Solutions LLC
since 2019
6 recorded transactions
Zoning & alternative use
19 · Lubbock, TX
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.9M
+25.9%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Lubbock submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lubbock submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,480,000
Current use
RETAIL STORES
$1,865,000
Change: +26% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$1,225,000
Change: -17% · Conversion: Moderate
Blend value · Realmo final
$1.39M
Range $1.25M – $1.53M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$45 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$35,019
Tax year 2023
Assessed value
$1,750,000
Assessed 2024
Previous assessed
$1,750,000
+0.0% YoY
Effective rate
2.00%
On assessed value
Assessed land
$951,394
Assessed improvement
$798,606
Land market value
$951,394
Improvement market value
$798,606
Total market value
$1,750,000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
2011
Heating
NONE
Total area
30,600 SF
Lot
10 ac (435,469 SF)
Zoning code
19
APN
R54929
UPID
US82-6481051
Jurisdiction
LUBBOCK
Zoning & alternative use
19 · Lubbock, TX
Zoning 19 · permitted uses
19 · Lubbock, TX
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lubbock. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$1.5M
RETAIL STORES
Est. value
$1.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.2M
WAREHOUSE, STORAGE Current
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2011
Heating
NONE
Lot
10 ac
Current owner
From public records · entity-resolved
806 Storage Solutions LLC
Entity
Mailing address
2529 74TH ST, LUBBOCK, TX 79423-1405
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 2, 2022
—
806 Storage Solutions LLC
—
Deed
related
$328,529 · Lubbock National Bank
Sep 26, 2019
—
806 Storage Solutions LLC
Msb Communications LLC
Warranty Deed
$1,280,000 · Lubbock Nat'l Bk
Oct 16, 2018
—
Msb Communications LLC
—
Grant Deed
related
$1,500,000 · Access Asset Management INC
Sep 14, 2018
—
Msb Communications LLC
Lubbock Radio Paging Svc INC
Trustees Deed
$2,000,000 · Bank Of Austin
—
—
Lubbock Radio Paging Service
—
Deed Of Trust
related
$700,000 · Plains Capital Bank
—
—
Lubbock Bridge Properties LLC
—
Deed Of Trust
related
$315,000 · Aimbank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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