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Property profile & analytics
FOR LEASE
Strip malls
4505 98Th St, Lubbock, TX 79424
Individually Owned
20-yr Hold
~
Est. High Equity
Property ID
US82-2436917
For Lease
1 / 5
$36 SF/Yr
4505 98Th St, Lubbock, TX 79424
View Listing →
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2006
Total area
25,434 SF
Lot
3.18 ac (138,347 SF)
APN
R310066
UPID
US82-2436917
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
-
Lakeridge Commons Shopping Center & Mall
-
ATM American State Ba Bank Bank Or Atm
-
RockBox Fitness Lubbock Gym & Fitness Center Sports School
-
Gristy's Dry Cleaning & Laundry (Bike/Boat/Book/etc) Store
-
Nature's Tonic Lubbock (Bike/Boat/Book/etc) Store Pharmacy
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$535k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.20M
Blend (final)
Blend
$870k
Owner & transaction history
Lakeridge Commons Ltd · 20 yrs held
Lakeridge Commons Ltd
since 2006
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$1.3M
+44.0%
Retail stores
$1.1M
+20.4%
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
$535,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$930,000
Current use
WAREHOUSE, STORAGE
$1,340,000
Change: +44% · Conversion: Difficult
RETAIL STORES
$1,120,000
Change: +20% · Conversion: Easy
Blend value · Realmo final
$870k
Range $783k – $957k · ±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
$34 / 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
$73,648
Tax year 2023
Assessed value
$4,567,963
Assessed 2024
Previous assessed
$3,500,000
+30.5% YoY
Effective rate
1.61%
On assessed value
Assessed land
$968,429
Assessed improvement
$3,599,534
Land market value
$968,429
Improvement market value
$3,599,534
Total market value
$4,567,963
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
For Lease
Year built
2006
Heating
NONE
Total area
25,434 SF
Lot
3.18 ac (138,347 SF)
APN
R310066
UPID
US82-2436917
Jurisdiction
LUBBOCK
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$930,000
WAREHOUSE, STORAGE
Est. value
$1.3M
RETAIL STORES
Est. value
$1.1M
NEIGHBORHOOD: SHOPPING CENTER Current
WAREHOUSE, STORAGE
RETAIL STORES
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
2006
Heating
NONE
Lot
3.18 ac
Current owner
From public records · entity-resolved
Lakeridge Commons Ltd
Individual
Mailing address
PO BOX 65207, LUBBOCK, TX 79464-5207
Ownership since
2006
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 30, 2017
—
Lakeridge Commons Ltd
—
Grant Deed
related
$5,550,000 · Argentic R/e Fin LLC
Jan 6, 2006
—
Lakeridge Commons Ltd
98th & Quaker Ltd
Warranty Deed
related
—
—
—
Lakeridge Commons Ltd
—
Deed Of Trust
related
$4,000,000 · Lasalle National Bank
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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