Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    5601 138Th St Lubbock, TX 79424

    • Commercial real estate
    • 156.97 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-7179817
    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

    • Commercial real estate

    Property Details for 5601 138Th St

    Lot size
    156.97 lot acres
    Property type
    Commercial real estate

    Description

    Exceptional 156.97-acre development opportunity in southwest Lubbock, Texas, is available for $6,043,345. This prime parcel is situated less than one mile from the new Loop 88, offering unparalleled access and visibility. Located within Lubbock city limits and within the Cooper ISD school district, this property presents a unique chance for residential, retail, or multifamily development. The land is ideally positioned across from Sundance Estates, a new Betenbough development, and just north of Highland Oaks, indicating a thriving and desirable neighborhood. This is one of the few remaining large development parcels in this rapidly growing area. The property boasts paved road access on three sides, enhancing accessibility and infrastructure. While sewer and water are currently available at the north end, city engineers are actively collaborating with developers to extend water and sewer mains down Frankford to 148th Street, directly adjacent to the property, further enhancing its development potential. The property is zoned SF-2, making it suitable for a variety of development projects. This is a rare opportunity to acquire a significant land holding in a high-growth area of Lubbock.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Lubbock
    County
    Lubbock
    State
    Texas
    Longitude
    -101.935159
    Latitude
    33.465162

    Comparable in this City

    • Contact for pricing
      1.00 Acre

      South Lubbock Commercial Land

      Prime Lubbock location, ideal for development.
      0 114Th St, Lubbock, TX 79424
      View Details
    • $1,449,241
      11.09 Acres

      11-Acre Lubbock Residential Land

      Prime Lubbock land, 65-lot potential.
      10902 Oak Ridge Ave, Lubbock, TX 79424
      View Details
    • $190,000
      Pending

      Updated Duplex in Southwest Lubbock

      Updated duplex with private yards, ready for easy sale.
      9603 Elmwood Ave, Lubbock, TX 79424
      View Details
    • $370,500
      3,750 SF

      Remodeled Duplex with Rental Income

      Remodeled duplex with basement, shop, and consistent rental income.
      4806 76Th St, Lubbock, TX 79424
      View Details
    • $395,000
      2,781 SF

      Modern Duplex in Southwest Lubbock

      Built in 2022, duplex with income potential in Lubbock.
      5508 122Nd St, Lubbock, TX 79424
      View Details
    • $1,371,280
      4,496 SF

      South Lubbock Duplex Smart Garden Office

      Versatile duplex in South Lubbock, ideal for professionals and entrepreneurs.
      10921 Wayne Ave, Lubbock, TX 79424
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1.00 Acre

      South Lubbock Commercial Land

      Prime Lubbock location, ideal for development.
      0 114Th St, Lubbock, TX 79424
      View Details
    • $1,449,241
      11.09 Acres

      11-Acre Lubbock Residential Land

      Prime Lubbock land, 65-lot potential.
      10902 Oak Ridge Ave, Lubbock, TX 79424
      View Details
    • $190,000
      Pending

      Updated Duplex in Southwest Lubbock

      Updated duplex with private yards, ready for easy sale.
      9603 Elmwood Ave, Lubbock, TX 79424
      View Details
    • $370,500
      3,750 SF

      Remodeled Duplex with Rental Income

      Remodeled duplex with basement, shop, and consistent rental income.
      4806 76Th St, Lubbock, TX 79424
      View Details
    • $395,000
      2,781 SF

      Modern Duplex in Southwest Lubbock

      Built in 2022, duplex with income potential in Lubbock.
      5508 122Nd St, Lubbock, TX 79424
      View Details
    • $1,371,280
      4,496 SF

      South Lubbock Duplex Smart Garden Office

      Versatile duplex in South Lubbock, ideal for professionals and entrepreneurs.
      10921 Wayne Ave, Lubbock, TX 79424
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      29-Acre Development Site For Rent

      29-acre development site near Lubbock's southern growth corridor.
      11915 Quaker Ave, Lubbock, TX 79424
      View Details
    • Contact for pricing

      Lubbock Land for Lease

      Land available for lease in developing south Lubbock area.
      11200 Quaker Ave, Lubbock, TX 79424
      View Details
    • Contact for pricing
      72,100 SF

      Commercial Land on Quaker Avenue

      6.36 acres of commercial land in South Lubbock.
      12410 Quaker Ave, Lubbock, TX 79424
      View Details
    • $3 SF/Yr
      26,600 SF

      Prime Lubbock Retail Pad Site

      Grocery-anchored outparcel, high traffic location.
      11310 Slide Rd, Lubbock, TX 79424
      View Details
    • $34 SF/Yr
      2,700 SF

      Lubbock Land Ready For Development

      Prime commercial land available for ground lease or build-to-suit.
      11401 Slide Rd, Lubbock, TX 79424
      View Details
    • $23 SF/Yr
      7,225 SF

      Upland Ave Retail Center - Lubbock, TX

      Brand new retail space, South Lubbock.
      8333 Upland Ave, Lubbock, TX 79424
      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.
    5601 138Th St
    Lubbock, TX 79424
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.