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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    5002 Milwaukee Ave Lubbock, TX 79407

    • Turn key restaurants
    • 5,934 SF
    • 1.26 lot acres
    OFF-MARKET
    Value Estimations
    $505,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-5498896
    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.

    Current Use by Public Records

    • Braum's Ice Cream & Dairy Store / Grocery & Convenience Store / Specialty Food Shop

    Property Details for 5002 Milwaukee Ave

    Year built
    2020
    Lot size
    1.26 lot acres
    Property size
    5,934 SF
    Property type
    Turn key restaurants
    APN
    R334282
    APU
    R334282

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $400,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $610,000
      Market price range: $342k - $837k

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $570,000
      Current use
      AUTO REPAIR, GARAGE
      $520,000
      Change: -8% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $470,000
      Change: -17% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Lubbock
    County
    Lubbock
    State
    Texas
    Longitude
    -101.958
    Latitude
    33.5483
    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
    $30,259
    $416,472
    $1,274,174
    $1,690,646
    -
    $416,472
    $1,274,174
    $1,690,646

    Comparable in this City

    • Value Estimation by Request
      560 SF

      7729 19th St

      RESTAURANT • 560 SF
      7729 19th St, Lubbock, TX 79407-4205
      View Details
    • Value Estimation
      $760,000
      8,192 SF

      2630 Loop 289

      RESTAURANT • 8,192 SF
      2630 Loop 289, Lubbock, TX 79407-1651
      View Details
    • Value Estimation
      $600,000
      6,631 SF

      6012 Marsha Sharp Fwy

      RESTAURANT • 6,631 SF
      6012 Marsha Sharp Fwy, Lubbock, TX 79407-3726
      View Details
    • Value Estimation
      $525,000
      10,666 SF

      5018 Milwaukee Ave

      RESTAURANT • 10,666 SF
      5018 Milwaukee Ave, Lubbock, TX 79407-3807
      View Details
    • Value Estimation
      $550,000
      6,730 SF

      5020 Milwaukee Ave

      RESTAURANT • 6,730 SF
      5020 Milwaukee Ave, Lubbock, TX 79407-3807
      View Details
    • Value Estimation by Request
      2,400 SF

      6410 19th St

      RESTAURANT • 2,400 SF
      6410 19th St, Lubbock, TX 79407-1406
      View Details

    Similar Nearby for Sale

    • $250,000
      1,850 SF

      Turn-Key Restaurant in Lubbock, TX

      Restaurant ready for new owner in a high-traffic area.
      6313 19Th St, Lubbock, TX 79407
      View Details
    • $2,646,600
      4,411 SF

      Lubbock Retail Building For Sale

      4,411 SF retail building on 0.57 acres available.
      6425 19Th St, Lubbock, TX 79407
      View Details
    • $700,000
      4,245 SF

      West Lubbock Storefront - 13 Acres

      Prime Retail Space, High Traffic Area
      8116 19Th St, Lubbock, TX 79407
      View Details
    • $2,646,600
      4,411 SF

      Prime Corner Retail Opportunity

      High-visibility retail building in a high-growth area.
      1903 Milwaukee Ave, Lubbock, TX 79407
      View Details
    • $400,000
      3,200 SF

      Lubbock Retail Property on 1.5 Acres

      3,200 sq ft retail space on 1.5 acres.
      8118 West 19Th St, Lubbock, TX 79407
      View Details
    • $400,000
      1.72 Acres

      Commercial Building: Lubbock, TX

      1.72-acre lot, 5,000 sq ft metal building.
      9607 Tx-114, Lubbock, TX 79407
      View Details

    Similar Nearby for Lease

    • $21 SF/Yr
      100,200 SF

      4525 Milwaukee Ave

      Lifestyle centers • 100,200 SF
      4525 Milwaukee Ave, Lubbock, TX 79407
      View Details
    • $26 SF/Yr
      4,083 SF

      Retail/Office Space with Drive-Thru

      Vacant unit suitable for financial, office, medical, or retail use.
      4206 19Th St, Lubbock, TX 79407
      View Details
    • Contact for pricing
      184,259 SF

      Loop 289 & 19th Street Land

      High-traffic Lubbock retail land. Excellent visibility.
      0 19Th St, Lubbock, TX 79407
      View Details
    • $35 SF/Yr
      1,380 SF

      Retail Space on W Loop

      Well-maintained retail space with high visibility and ample parking.
      2910 Loop 289 W, Lubbock, TX 79407
      View Details
    • Contact for pricing
      8,000 SF

      Retail Space on W Loop

      Prime retail location with customizable space and high visibility.
      3008 Loop 289 W, Lubbock, TX 79407
      View Details
    • $15 SF/Yr
      9,812 SF

      Remodeled Retail Center Near Freeway

      Recently remodeled retail center with high visibility and modern suites.
      5001 Marsha Sharp Fwy, Lubbock, TX 79407
      View Details
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    5002 Milwaukee Ave
    Lubbock, TX 79407
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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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