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Property profile & analytics
OFF-MARKET
Estimated value
$1,300,000
Strip malls
3407 98th St Lubbock, TX 79423-3850
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US82-6963019
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2018
Total area
31,000 SF
Lot
3.66 ac (159,248 SF)
Zoning code
20
APN
R96303
UPID
US82-6963019
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
-
Hair by Krista Hair Salon
-
The Co-Op Bakery and Bistro Bakery Specialty Food Shop
-
Cross Roads Real Estate Services Real Estate Agency
-
Kwality Liquor Beer & Wine (Bike/Boat/Book/etc) Store Wine and Liquor Store
-
Vito’s Pizzeria & Ice Cream Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.30M
Owner & transaction history
Pengau Holdings LLC · 4 yrs held
Pengau Holdings LLC
since 2021
7 recorded transactions
Zoning & alternative use
20 · Lubbock, TX
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.9M
+52.1%
Warehouse, storage
$1.5M
+20.8%
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
NEIGHBORHOOD: SHOPPING CENTER
$1,240,000
Current use
RETAIL STORES
$1,890,000
Change: +52% · Conversion: Easy
WAREHOUSE, STORAGE
$1,500,000
Change: +21% · Conversion: Difficult
Blend value · Realmo final
$1.30M
Range $1.17M – $1.43M · ±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
$42 / 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
$70,492
Tax year 2023
Assessed value
$3,500,000
Assessed 2024
Previous assessed
$3,350,000
+4.5% YoY
Effective rate
2.01%
On assessed value
Assessed land
$716,616
Assessed improvement
$2,783,384
Land market value
$716,616
Improvement market value
$2,783,384
Total market value
$3,500,000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
2018
Heating
NONE
Total area
31,000 SF
Lot
3.66 ac (159,248 SF)
Zoning code
20
APN
R96303
UPID
US82-6963019
Jurisdiction
LUBBOCK
Zoning & alternative use
20 · Lubbock, TX
Zoning 20 · permitted uses
20 · 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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$1.2M
RETAIL STORES
Est. value
$1.9M
WAREHOUSE, STORAGE
Est. value
$1.5M
NEIGHBORHOOD: SHOPPING CENTER Current
RETAIL STORES
WAREHOUSE, STORAGE
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
2018
Heating
NONE
Lot
3.66 ac
Current owner
From public records · entity-resolved
Pengau Holdings LLC
Entity
Mailing address
4241 SUNNYSIDE AVE, LOS ANGELES, CA 90066-5609
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 28, 2021
—
Pengau Holdings LLC
S & S Commercial Properties Ltd
Venders Lien
$2,957,500 · Lone Star State Bank Of West Texas
Feb 11, 2020
—
S & S Coml Prop Ltd
—
Deed
related
$2,880,000 · Butler W W Trust (pt)
Jan 24, 2020
—
S & S Coml Prop Ltd
—
Deed
related
$500,000 · Aimbank
Dec 8, 2014
—
S & S Commercial Properties Ltd
—
Trustees Deed
related
$249,500 · Aimbank
Dec 28, 2012
—
S&s Commercial Properties Ltd
Danbe Partners Ltd
Venders Lien
$245,000 · Alliance FCU
Jan 20, 2004
—
Danbe Ptrs Ltd
Liman Ents LLP
Warranty Deed
related
—
—
—
S & S Coml Prop Ltd
—
Deed Of Trust
related
$2,880,000 · Butler W W Trust (pt)
—
—
S & S Coml Prop Ltd
—
Deed Of Trust
related
$500,000 · Aimbank
—
—
S & S Commercial Properties Ltd
—
Deed Of Trust
related
$500,000 · 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.
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