Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    516 42nd St Lubbock, TX 79404-3410
    Property profile & analytics

    516 42nd St Lubbock, TX 79404-3410

    View on Map
    • Flex space
    • 39,100 SF
    • 2.30 lot acres
    Off-Market
    Property ID
    US82-4087621
    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.
    Value Estimations
    $640,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Wylie Implement, Lubbock / Big Box & Wholesale Store / Agricultural Supply
    • Wylie Manufacturing DOT / Big Box & Wholesale Store / Agricultural Supply

    Property Details for 516 42nd St

    Year built
    1995
    Lot size
    2.30 lot acres
    Property size
    39,100 SF
    Zone code
    38
    Property type
    Flex space
    APN
    R139218
    APU
    R139218

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $495,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $781,000
      Market price range: $716k - $1.01M

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $860,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Lubbock
    County
    Lubbock
    State
    Texas
    Longitude
    -101.83
    Latitude
    33.5556
    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
    $15,614
    $25,004
    $864,996
    $890,000
    -
    $25,004
    $864,996
    $890,000

    Comparable in this City

    • Value Estimation by Request

      10610 County Road 2500

      Flex space
      10610 County Road 2500, Lubbock, TX 79404
      View Details
    • Value Estimation by Request
      1.20 Acres

      311-405 19Th St

      Distribution properties • 1.20 Acres
      311-405 19Th St, Lubbock, TX 79404
      View Details
    • Value Estimation by Request
      7,800 SF

      1102 50th St

      LIGHT INDUSTRIAL • 7,800 SF
      1102 50th St, Lubbock, TX 79404-3830
      View Details
    • Value Estimation
      $550,000
      21,589 SF

      515 50th St

      LIGHT INDUSTRIAL • 21,589 SF
      515 50th St, Lubbock, TX 79404-3725
      View Details
    • Value Estimation by Request
      20,725 SF

      6803 Martin L King Blvd

      LIGHT INDUSTRIAL • 20,725 SF
      6803 Martin L King Blvd, Lubbock, TX 79404
      View Details
    • Value Estimation
      $1,285,000
      54,190 SF

      111 County Rd 7200

      LIGHT INDUSTRIAL • 54,190 SF
      111 County Rd 7200, Lubbock, TX 79404-7917
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      21,700 SF

      Versatile Industrial Property in Lubbock

      21,700 SF industrial property on 2.9 acres for sale.
      3118 Slaton Rd, Lubbock, TX 79404
      View Details
    • $625,000
      1,120 SF

      Visible I-27 Interchange Flex Space

      Flex space with high visibility and access on I-27.
      6015 N Interstate 27, Lubbock, TX 79404
      View Details
    • $650,000
      1.20 Acres

      Lubbock Industrial Flex Space Investment

      High-yield flex space, fully leased.
      311-405 19Th St, Lubbock, TX 79404
      View Details
    • $625,000

      Lubbock Industrial Property For Sale

      Industrial property with visibility and access at I-27 & Hwy 84.
      5906 Avenue A, Lubbock, TX 79404
      View Details
    • $225,000
      5,200 SF

      Versatile Industrial Shop/Hangar/Flex Space

      5200 SF property near Lubbock Executive Airpark.
      1813 E Private Road 7330, Lubbock, TX 79404
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Modern Office Warehouse Space

      2,000 sq ft office/warehouse in Southeast Lubbock.
      11602 County Road 2360, Lubbock, TX 79404
      View Details
    • Contact for pricing
      1,500 SF

      Industrial Units for Lease

      Flex spaces with secure access and convenient highway location.
      9505 Highway 87, Lubbock, TX 79404
      View Details
    • $1,550 /Mo
      6,400 SF

      Lubbock Flex Space For Rent

      Flex space with drive-through doors available for rent in Lubbock.
      8509 Ash Ave, Lubbock, TX 79404
      View Details
    • $10 SF/Yr

      New Industrial Development in Lubbock

      Customizable office warehouses with flexible options for sale or lease.
      10610 County Road 2500, Lubbock, TX 79404
      View Details
    • $4 SF/Yr

      Dock High Industrial Sublease

      Industrial building with office space available for sublease.
      1333 E 44Th St, Lubbock, TX 79404
      View Details
    • $700 /Mo
      4,000 SF

      Lubbock Flex Space For Rent

      Flex space with office, restroom, and overhead door.
      8403 Ash Ave, Lubbock, TX 79404
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    516 42nd St
    Lubbock, TX 79404-3410
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    516 42nd St, Lubbock, TX, 79404
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!