3712 22Nd StLubbock, TX 79410

Property Details for 3712 22Nd St

Year built

1985

Lot size

0.23 AC

Property size (Sq ft)

2,475 SF

Zone code

38

Property type

Commercial real estate

APN

R100727

APU

R100727

Description

This exceptional 2,429-square-foot medical office building is available for purchase at $350,000 ($144.09/sq ft). Located at 3712 22nd St, Lubbock, TX 79410, in Lubbock County, this Class C property boasts a convenient location within the city's medical district. Built in 1985, the building sits on a 19,996-square-foot lot and is zoned HDR (High Density Residential). The property's previous use as a physician's private practice highlights its suitability for similar medical ventures. The interior layout includes two private offices, seven exam or treatment rooms, a reception area, and a waiting room. Plumbing is installed throughout the building. While a portion of the property falls within a flood zone, the building itself is not situated in the flood plain. Potential buyers should note that some specific use permits are approved within HDR districts as a limited use. Interested parties are encouraged to contact the City of Lubbock at 806-775-2108 to determine if their intended use qualifies under an approved specific use permit. This presents a unique opportunity to acquire a well-positioned medical office building in a thriving Texas market.

• CAP approach

  CAP return

  Valuation

  6%

  $416,147

  6.5%

  $384,135

  7%

  $356,697

• Comparable approach

  Method

  Valuation

  Relative Method

  $220,810

  Geo Method

  $297,792

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $728,470

  Retail / Commercial

  $378,999

  Mixed-Use / Specialty

  $381,937

  Hospitality / Lodging

  $285,799

  Office

  $384,135

  Institutional / Educational

  $398,593

  Residential Income

  $466,354

  Multifamily

  $535,542

  Automotive / Energy

  $341,652

  Parking / Income-Based Land

  $113,662

  Restaurant / Food Service

  $207,802

  Healthcare / Senior Housing

  $387,271

Location Insight

City

Lubbock

County

Lubbock

State

Texas

Latitude

33.5753

Longitude

-101.896

CBSA code

31180

CBSA name

LUBBOCK, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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