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Property profile & analytics
FOR LEASE
Retail space
5819 4Th St Lubbock, TX 79416
Individually Owned
10-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US82-2132582
For Lease
1 / 18
$12 SF/Yr
5819 4Th St, Lubbock, TX 79416
View Listing →
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2002
Total area
6,753 SF
Lot
0.92 ac (40,221 SF)
Zoning code
17
APN
R82504
UPID
US82-2132582
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Advance Auto Parts Auto Parts Store
-
UPS Access Point location Courier Service Postal Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$643k
Blend (final)
Blend
$670k
Owner & transaction history
Michael L Strickland · 10 yrs held
Michael L Strickland
since 2016
2 recorded transactions
Zoning & alternative use
17 · Lubbock, TX
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$895,000
+108.6%
Restaurant
$740,000
+71.7%
Auto repair, garage
$595,000
+38.3%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Lubbock submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lubbock submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$430,000
Current use
COMMERCIAL (GENERAL)
$895,000
Change: +109% · Conversion: Easy
RESTAURANT
$740,000
Change: +72% · Conversion: Easy
AUTO REPAIR, GARAGE
$595,000
Change: +38% · Conversion: Difficult
OFFICE BUILDING
$450,000
Change: +4% · Conversion: Easy
Blend value · Realmo final
$670k
Range $603k – $737k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$99 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$16,423
Tax year 2023
Assessed value
$784,270
Assessed 2024
Previous assessed
$784,270
+0.0% YoY
Effective rate
2.09%
On assessed value
Assessed land
$201,105
Assessed improvement
$583,165
Land market value
$201,105
Improvement market value
$583,165
Total market value
$784,270
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
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
For Lease
Year built
2002
Heating
NONE
Total area
6,753 SF
Lot
0.92 ac (40,221 SF)
Zoning code
17
APN
R82504
UPID
US82-2132582
Jurisdiction
LUBBOCK
Zoning & alternative use
17 · Lubbock, TX
Zoning 17 · permitted uses
17 · Lubbock, TX
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lubbock. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$430,000
COMMERCIAL (GENERAL)
Est. value
$895,000
RESTAURANT
Est. value
$740,000
AUTO REPAIR, GARAGE
Est. value
$595,000
OFFICE BUILDING
Est. value
$450,000
RETAIL STORES Current
COMMERCIAL (GENERAL)
RESTAURANT
AUTO REPAIR, GARAGE
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2002
Heating
NONE
Lot
0.92 ac
Current owner
From public records · entity-resolved
Michael L Strickland
Individual
Mailing address
5824 EMORY ST, LUBBOCK, TX 79416-3338
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 20, 2016
—
Michael L Strickland
Jasr Investments LLC
Warranty Deed
$188,000 · American Bk/commerce
Jan 22, 2016
—
Jasr Investments LLC
Rar Real Estate Psp Of Tr
Warranty Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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