5929 50Th StLubbock, TX 79424

Property Details for 5929 50Th St

Year built

2004

Lot size

0.49 AC

Property size (Sq ft)

4,684 SF

Zone code

17

Property type

Office buildings

APN

R33406

APU

R33406

Description

This exceptional Class A commercial property, totaling 4,684 square feet, seamlessly blends office and warehouse space. Built in 1977 and renovated in 2004, the single-story building sits on a 21,466 square foot lot and boasts a convenient single-tenant occupancy. The office area features a reception area and five individual offices, ideal for a variety of businesses. The warehouse component includes two 10' x 10' overhead doors, facilitating efficient loading and unloading. Adding to its functionality is a secure, fenced stackyard, perfect for storage or equipment. The property offers ample parking with 20 spaces available. Its prime location on 50th St provides excellent access to the Marsha Sharp Freeway and West Loop 289, ensuring easy commutes throughout Lubbock and the surrounding areas. The property is zoned commercial and is available for lease beginning February 15, 2025. This property is perfect for service providers, contractors, wholesalers, or any business requiring both office and warehouse space with secure outdoor storage.

• CAP approach

  CAP return

  Valuation

  6%

  $694,913

  6.5%

  $641,458

  7%

  $595,640

• Comparable approach

  Method

  Valuation

  Relative Method

  $417,889

  Geo Method

  $563,579

• Alternative Use

  Use

  Valuation

  Residential

  $795,408

  Hospitality

  $728,590

  Educational

  $606,178

  Medical

  $627,025

  Retail

  $942,944

Location Insight

City

Lubbock

County

Lubbock

State

Texas

Latitude

33.5491

Longitude

-101.945

CBSA code

31180

CBSA name

LUBBOCK, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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