1213 Crickets AveLubbock, TX 79401

Property Details for 1213 Crickets Ave

Year built

1943

Lot size

0.15 AC

Property size (Sq ft)

6,500 SF

Zone code

38

Property type

Retail space

APN

R111403

APU

R111403

Description

This exceptional 6,500-square-foot executive office space, located at 1213 Crickets Ave in Lubbock, Texas, presents a unique investment opportunity. The single-tenant building, situated on a 0.15-acre lot, boasts a prime location directly across from the Greyhound Bus Station, offering unparalleled visibility and accessibility. Built in 1943 and renovated in 1977, this one-story structure is zoned CB-2 and is currently entirely vacant. Its strategic position just off Broadway provides easy access to major transportation routes, including I-27 and US 62/82, ensuring convenient access for clients and employees. The interior is a blank canvas, ready for customization to suit any business needs. A tenant improvement allowance is available, offering flexibility in designing the perfect workspace. This property represents a chance to establish a presence in Lubbock's thriving downtown area, benefiting from high traffic and visibility. The building's history adds character and charm, making it an ideal location for a business seeking a unique and prominent address. The entire 6,500 square feet is available for lease. This is a rare opportunity to secure a significant space in a highly desirable location.

• CAP approach

  CAP return

  Valuation

  6%

  $1,417,569

  6.5%

  $1,308,525

  7%

  $1,215,059

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,461,362

  Geo Method

  $1,970,842

• Alternative Use

  Use

  Valuation

  Residential

  $1,103,790

  Hospitality

  $1,011,066

  Educational

  $841,195

  Medical

  $870,125

  Retail

  $1,308,525

Location Insight

City

Lubbock

County

Lubbock

State

Texas

Latitude

33.584

Longitude

-101.843

CBSA code

31180

CBSA name

LUBBOCK, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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