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Property profile & analytics
FOR LEASE
Strip malls
8215 University Ave, Lubbock, TX 79423
Entity Owned
20-yr Hold
Absentee Owner
Free & Clear
Property ID
US82-2169273
For Lease
1 / 3
$540,000
8215 University Ave, Lubbock, TX 79423
View Listing →
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2004
Total area
10,434 SF
Lot
1.03 ac (44,838 SF)
Zoning code
38
APN
R34417
UPID
US82-2169273
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
-
Palm Beach Tan Tanning Salon
-
Miracle-Ear Hearing Aid Center Hearing Aid Store Hearing Aid Repair Service
-
GameStop Electronics & Wireless Store
-
Poshe Nails & Spa Nail Salon
-
Cold Stone Creamery Grocery & Convenience Store Specialty Food Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$435k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$640k
Blend (final)
Blend
$540k
Owner & transaction history
Barock Invest LLC · 20 yrs held
Barock Invest LLC
since 2005
3 recorded transactions
Zoning & alternative use
38 · Lubbock, TX
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$635,000
+52.1%
Warehouse, storage
$505,000
+20.8%
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
$435,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$420,000
Current use
RETAIL STORES
$635,000
Change: +52% · Conversion: Easy
WAREHOUSE, STORAGE
$505,000
Change: +21% · Conversion: Difficult
Blend value · Realmo final
$540k
Range $486k – $594k · ±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
$52 / 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
$23,700
Tax year 2023
Assessed value
$1,715,271
Assessed 2024
Previous assessed
$1,275,000
+34.5% YoY
Effective rate
1.38%
On assessed value
Assessed land
$403,542
Assessed improvement
$1,311,729
Land market value
$403,542
Improvement market value
$1,311,729
Total market value
$1,715,271
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
For Lease
Year built
2004
Heating
NONE
Total area
10,434 SF
Lot
1.03 ac (44,838 SF)
Zoning code
38
APN
R34417
UPID
US82-2169273
Jurisdiction
LUBBOCK
Zoning & alternative use
38 · Lubbock, TX
Zoning 38 · permitted uses
38 · 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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$420,000
RETAIL STORES
Est. value
$635,000
WAREHOUSE, STORAGE
Est. value
$505,000
NEIGHBORHOOD: SHOPPING CENTER Current
RETAIL STORES
WAREHOUSE, STORAGE
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
2004
Heating
NONE
Lot
1.03 ac
Current owner
From public records · entity-resolved
Barock Invest LLC
Entity
Free & Clear · 20 yrs held
Mailing address
161 TOWNES CT, DRIPPING SPRINGS, TX 78620-2120
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2005
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 25, 2016
—
Tucorp INC
—
Deed
related
$1,515,683 · Interbank
Nov 30, 2005
—
Barock Invest LLC
Southeast Lubbock Ltd
Warranty Deed
related
—
—
—
Tucorp INC
—
Deed Of Trust
related
$1,515,683 · Interbank
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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