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Property profile & analytics
OFF-MARKET
Estimated value
$665,000
Strip malls
3502 Slide Rd, Lubbock, TX 79414-2500
Entity Owned
13-yr Hold
Free & Clear
Property ID
US82-1187856
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1977
Total area
29,610 SF
Lot
2.89 ac (125,712 SF)
Zoning code
38
APN
R91248
UPID
US82-1187856
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
-
Area Wide Medical Production Facility
-
A Beautiful Child Development Center Daycare Center
-
160 Driving Academy of Lubbock Vocational School
-
Healthy house Alternative Medicine Practice Spa & Massage Center
-
Lantern Tavern Bar & Pub
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$610k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$716k
Blend (final)
Blend
$665k
Owner & transaction history
Isom Sp LLC · 13 yrs held
Isom Sp LLC
since 2013
7 recorded transactions
Zoning & alternative use
38 · Lubbock, TX
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$610,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$755,000
Current use
INDUSTRIAL (GENERAL)
$675,000
Change: -10% · Conversion: Difficult
Blend value · Realmo final
$665k
Range $599k – $732k · ±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
$22 / 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
$26,953
Tax year 2023
Assessed value
$1,550,000
Assessed 2024
Previous assessed
$1,450,000
+6.9% YoY
Effective rate
1.74%
On assessed value
Assessed land
$377,136
Assessed improvement
$1,172,864
Land market value
$377,136
Improvement market value
$1,172,864
Total market value
$1,550,000
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
1977
Heating
NONE
Total area
29,610 SF
Lot
2.89 ac (125,712 SF)
Zoning code
38
APN
R91248
UPID
US82-1187856
Jurisdiction
LUBBOCK
Zoning & alternative use
38 · Lubbock, TX
Zoning 38 · permitted uses
38 · 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
$755,000
INDUSTRIAL (GENERAL)
Est. value
$675,000
NEIGHBORHOOD: SHOPPING CENTER Current
INDUSTRIAL (GENERAL)
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
1977
Heating
NONE
Lot
2.89 ac
Current owner
From public records · entity-resolved
Isom Sp LLC
Entity
Free & Clear · 13 yrs held
Mailing address
PO BOX 246, LUBBOCK, TX 79408-0246
Ownership since
2013
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 31, 2019
—
Isom Sp LLC
—
Deed
related
$7,162,114 · Western Bk
Dec 1, 2017
—
Isom Sp LLC
—
Deed
related
$1,800,000 · Happy Sts Bk
Mar 19, 2013
—
Isom Sp LLC
Conder,tony
Warranty Deed
—
May 1, 2004
—
Tony Conder
Musgrave Kenneth L Ltd
Warranty Deed
related
—
—
—
Isom Sp LLC
—
Deed Of Trust
related
$7,162,114 · Western Bk
—
—
Isom Sp LLC
—
Deed Of Trust
related
$1,250,000 · Happy Sts Bk
—
—
Isom Sp LLC
—
Deed Of Trust
related
$1,800,000 · Happy Sts Bk
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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