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Property profile & analytics
OFF-MARKET
Warehouses
615 Belmont Ave Lubbock, TX 79416
Entity Owned
9-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US82-3377791
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
2004
Total area
9,800 SF
Lot
0.34 ac (14,785 SF)
APN
R303560
UPID
US82-3377791
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Grassano Duplexes 3 LLC · 9 yrs held
Grassano Duplexes 3 LLC
since 2016
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$4,554
Tax year 2023
Assessed value
$243,971
Assessed 2024
Previous assessed
$243,971
+0.0% YoY
Effective rate
1.87%
On assessed value
Assessed land
$29,570
Assessed improvement
$214,401
Land market value
$29,570
Improvement market value
$214,401
Total market value
$243,971
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
2004
Heating
NONE
Total area
9,800 SF
Lot
0.34 ac (14,785 SF)
APN
R303560
UPID
US82-3377791
Jurisdiction
LUBBOCK
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
2004
Heating
NONE
Lot
0.34 ac
Current owner
From public records · entity-resolved
Grassano Duplexes 3 LLC
Entity
Mailing address
7676 E POLO DR, WICHITA, KS 67206-3876
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 28, 2016
—
Grassano Duplexes 3 LLC
Vickie L Wisian
Trustees Deed
$14,928,000 · Lubbock Nat'l Bk
Mar 13, 2013
—
Vickie L Wisian
Wisian Elroy E JR
Quit Claim Deed
related
—
—
—
Vickie Wisian
—
Loan Modification, Consolidation And Extension
related
$762,795 · Platinum Bk
—
—
Elroy Wisian
—
Deed Of Trust
related
$1,163,000 · Platinum Bank
—
—
Elroy Wisian
—
Deed Of Trust
related
$1,163,000 · Platinum Bank
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.
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