5633 Villa DrLubbock, TX 79412

Property Details for 5633 Villa Dr

Year built

1972

Lot size

0.65 AC

Property size (Sq ft)

5,769 SF

Zone code

38

Property type

Office properties

Property subtype

Office buildings

APN

R110563

APU

R110563

Description

This exceptional 5,769 square foot office building, situated on a 0.65-acre lot (approximately 28,314 square feet), presents a compelling owner-user investment opportunity in Lubbock, Texas. Located at 5633 Villa Dr, this Class B property boasts convenient access to major thoroughfares including I-27, US-84, US-87, Loop 289, and Marsha Sharpe Freeway, placing it minutes from Lubbock's downtown area, the airport, and US 87. Built in 1960, the building features a modified lease type and is currently vacant, offering flexibility for immediate occupancy. The property is zoned C-4 and includes 12 free surface parking spaces. The asking price is $199,000, translating to a price per square foot of $34.49. While the building's total square footage is 5,769, lease options for spaces ranging from 500 to 3,000 square feet are available. This versatile property is suitable for various office uses, including executive, medical, and traditional office settings, making it an ideal investment for businesses seeking a strategic location with excellent accessibility and ample parking. The property's Avenue Q frontage provides high visibility and strong curb appeal. The APN is R110563.

• CAP approach

  CAP return

  Valuation

  6%

  $855,882

  6.5%

  $790,045

  7%

  $733,613

• Comparable approach

  Method

  Valuation

  Relative Method

  $514,688

  Geo Method

  $694,126

• Alternative Use

  Use

  Valuation

  Residential

  $979,656

  Hospitality

  $897,360

  Educational

  $746,593

  Medical

  $772,269

  Retail

  $1,161,366

Location Insight

City

Lubbock

County

Lubbock

State

Texas

Latitude

33.5426

Longitude

-101.849

CBSA code

31180

CBSA name

LUBBOCK, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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