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

    5302 Ave Q Q Lubbock, TX 79412-2722

    • Strip malls
    • 58,370 SF
    • 11.03 lot acres
    OFF-MARKET
    Last Sale
    Sep 24, 2024
    Value Estimations
    $1,145,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-3295288
    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

    • Lux Event / Event Venue

    Property Details for 5302 Ave Q Q

    Year built
    1966
    Lot size
    11.03 lot acres
    Property size
    58,370 SF
    Zone code
    38
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    R124638
    APU
    R124638

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $835,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,459,000
      Market price range: $1.46M - $3.58M

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

    Location Insight

    • Map
    • Local Demand
    City
    Lubbock
    County
    Lubbock
    State
    Texas
    Longitude
    -101.855
    Latitude
    33.5464
    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
    $21,917
    $720,621
    $679,379
    $1,400,000
    -
    $720,621
    $679,379
    $1,400,000

    Comparable in this City

    • Value Estimation by Request
      16,000 SF

      1302 35th St

      SHOPPING CENTER, STRIP CENTER • 16,000 SF
      1302 35th St, Lubbock, TX 79412-1301
      View Details
    • Value Estimation by Request
      11,552 SF

      2323 66th St

      SHOPPING CENTER, STRIP CENTER • 11,552 SF
      2323 66th St, Lubbock, TX 79412-3835
      View Details
    • Value Estimation
      $630,000
      25,978 SF

      4020 Ave Q Q

      SHOPPING CENTER, STRIP CENTER • 25,978 SF
      4020 Ave Q Q, Lubbock, TX 79412-1640
      View Details
    • Value Estimation by Request
      3,839 SF

      2110 50th St

      SHOPPING CENTER, STRIP CENTER • 3,839 SF
      2110 50th St, Lubbock, TX 79412
      View Details
    • Value Estimation by Request
      4,468 SF

      2108 50th St

      SHOPPING CENTER, STRIP CENTER • 4,468 SF
      2108 50th St, Lubbock, TX 79412-2603
      View Details
    • Value Estimation by Request
      18,768 SF

      4802 Ave Q Q

      SHOPPING CENTER, STRIP CENTER • 18,768 SF
      4802 Ave Q Q, Lubbock, TX 79412-2210
      View Details

    Similar Nearby for Sale

    • $725,000
      19,336 SF

      East Central Lubbock Retail Center

      Retail strip center with 11 tenants in East Central Lubbock.
      4802 Avenue Q, Lubbock, TX 79412
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    • $199,000
      3,059 SF

      High-Visibility Corner Redevelopment Opportunity

      Redevelopment opportunity near Texas Tech and retail/dining.
      2167 50Th St, Lubbock, TX 79412
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    • $400,000
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      Lubbock Liquor Store Investment

      High-volume, profitable liquor store.
      4302 Avenue Q, Lubbock, TX 79412
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    • $199,000
      3,798 SF

      Former Church and Adjacent Property

      High-visibility corner location with redevelopment potential near Texas Tech.
      2163 50Th St, Lubbock, TX 79412
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    • New
      $125,000
      1.84 Acres

      Lubbock Commercial Land For Sale

      High-visibility corner lot ideal for service-based businesses near 34th Street.
      1301 42Nd St, Lubbock, TX 79412
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    • $400,000
      950 SF

      Retail Property in Lubbock, TX

      Retail property for sale in Lubbock, Texas.
      4302 Avenue Q, Lubbock, TX 79412
      View Details

    Similar Nearby for Lease

    • $6 SF/Yr
      1,600 SF

      Retail Space in Briercroft Center

      Retail space for lease in a remodeled shopping center.
      5302 Avenue Q, Lubbock, TX 79412
      View Details
    • $14 SF/Yr
      1,500 SF

      High-Traffic Retail/Office End-Cap Unit

      Adaptable 1,500 SF retail or office space in high-traffic location.
      6309 66Th St, Lubbock, TX 79412
      View Details
    • $15 SF/Yr
      2,500 SF

      Retail Space off Milwaukee Avenue

      Retail, restaurant, or office space for lease in Lubbock.
      6305 66Th St, Lubbock, TX 79412
      View Details
    • $6 SF/Yr
      58,370 SF

      Briercroft Center: Office & Retail Space

      Prime location, multiple suites available.
      5302 Avenue Q, Lubbock, TX 79412
      View Details
    • $1,000 /Mo
      1,800 SF

      Office Warehouse Space Available

      Office warehouse space for rent with overhead door access.
      1300 35Th St, Lubbock, TX 79412
      View Details
    • Contact for pricing
      58,806 SF

      Briercroft Center Pad Sites

      Prime Lubbock County Commercial Land
      5302 Avenue Q, Lubbock, TX 79412
      View Details
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    5302 Ave Q Q
    Lubbock, TX 79412-2722
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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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