Individually Owned Property summary
AI-generated overview
This exceptional 3,066-square-foot creative office space is ideally situated in Lubbock, Texas, within Lubbock County, at 5064 50th St, zip code 79414. The single-tenant property is housed in a single-story, Class B building constructed in 1998, sitting on a substantial 61,910-square-foot lot. The interior boasts a spacious reception area, a convenient storage closet, and an oversized conference room. Three offices with natural light are complemented by a large room featuring four built-in desk units extending nearly to the ceiling. Additional space includes a filing room (or small office), a restroom, and a sizable vinyl composition tile (VCT) room with a commercial sink, suitable for use as a lab or breakroom. The property's location offers excellent visibility and accessibility, with nearby businesses including BASE Jiu Jitsu, SONIC, Red Lobster, Wrap it up Lubbock, Stanton Optical, and the 50th St. Caboose. This property presents a unique opportunity for a business seeking a well-appointed and functional office space in a vibrant Lubbock location. The property is conveniently located just north of the 50th Street intersection, behind a Walgreens.
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1969
Total area
18,577 SF
Lot
1.42 ac (61,770 SF)
Zoning code
38
APN
R87214
UPID
US82-2096775
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Training Center Sports School
-
Business Management Consultant
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$460k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$935k
Blend (final)
Blend
$460k
Owner & transaction history
Zoning & alternative use
38 · Lubbock, TX
Top alternative use upside
Commercial (general)
$1.1M
+17.2%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
2 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
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Summary
1
Valuation conclusion
Included free
Estimated market value
$460k
Value range
$414k – $506k
±10% around blend
Estimated value / SF
$25 / SF
Confidence
Property data
88
Comparable evidence
60
$414k
blend $460k
$506k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
18,577 SF
Lot area
1.42 ac
Year built
1969
APN
R87214
Zoning
38
Assessed value
$656,680
Annual tax
$11,765
3
Income approach: direct capitalization
Partial preview
Not enough income data on file for a CAP-approach estimation.
4
Sales comparison
Partial preview
Sales approach indication
$935k
Range $479k – $1.41M
Evidence
6 found
Recent peer sales in this city
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$460k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Alternative use screening
Partial preview
Top alternative use
Commercial (general)
Gross theoretical uplift
+17%
vs current-use indication
Warehouse, Storage · current use
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Not available
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: replacement-cost inputs are not on file.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Market rates by use type
PDF export
Professional Plan · 30 reports
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from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$657k
Move the market yield to see immediate price impact.
Value / SF
$35
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$41k
$827k
$591k
$460k
$46k
$919k
$657k
$511k
$51k
$1.01M
$722k
$562k
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$11,765
Tax year 2023
Assessed value
$656,680
Assessed 2024
Previous assessed
$656,680
+0.0% YoY
Effective rate
1.79%
On assessed value
Assessed land
$308,850
Assessed improvement
$347,830
Land market value
$308,850
Improvement market value
$347,830
Total market value
$656,680
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1969
Heating
NONE
Total area
18,577 SF
Lot
1.42 ac (61,770 SF)
Zoning code
38
APN
R87214
UPID
US82-2096775
Jurisdiction
LUBBOCK
Zoning & alternative use
38 · Lubbock, TXZoning 38 · permitted uses
38 · Lubbock, TX
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1969
Heating
NONE
Lot
1.42 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
38
Jurisdiction
Lubbock, TX
Recorded code
38
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for 38 in Lubbock, TX.
What opens after registration
Zoning profile
2 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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