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$331,030

NAL Estimated Property Value

2422 Fm 1294, Lubbock, TX, 79403

Off MarketInfo
CommercialInfo
Baths0 Bath
Baths6,064 Sq Ft
price_per_sqft$49.14 / sqft
Year BuiltBuilt in 1978

Highlights

Interior

Bathrooms 0Bathrooms 0
FlooringOther

Exterior

Lot Size3 acres

Building Information

Year Built1978

Land Information

APNR35221
Lot Number50400
Land UseCommercial
Legal DescriptionBLK D SEC 40 AB 717 TR Y4 SW/4 ACS: 3
Census Tract010201
Assessed Land Value$27,000
Assessed Improvement Value$304,030
Assessment Year2025

About this property

3 Acres of OPPORTUNITY are screaming on the corner of FM 1294 and North University. The Farmer's Depot building has a history of bustling trade and has housed retail shopping, hair stylists, feed supplies and multiple restaurants. This 7,500 sf warehouse is full of potential for mixed use with a semi-truck loading dock, multiple overhead doors, full electricity and water, and partial ductwork to install a new HVAC system. This 3 acres in a quickly developing area could be your next mechanic shop, feed store, gas station, RV & storage building business and so much more. Just 10 minutes North of Texas Tech is the perfect place to invest and dream.

Investor Tools

Property Icon
$331,030
Estimated Property Value
$47,594Estimated Mortgage Balance
$283,436Estimated Equity
85% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$1,986 /month
Positive
Cash Flow Estimate:
$662 /month

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$476/month
No HOA
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$4,060
$331,030
2025
$27,000
$304,030
$331,030
No

Tax History

Year
Tax Paid
Assessed Value
2024
$4,060
$331,030

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
City Bank Texas
Commercial
$85,000
No
First
Oct 10, 2008
N/A

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$47,594
$283,436
85%
14%
$510/mo

Learn About the Market: Opportunity in Texas

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Explore

Texas

Living in Texas means access to four of the nation’s most dynamic metro economies — Dallas–Fort Worth’s corporate and logistics powerhouse, Houston’s global energy and medical hub, Austin’s tech-driven and culturally iconic Live Music Capital of the World, and San Antonio’s historic yet steadily expanding military and healthcare center. The state blends economic scale with cultural significance, rooted in independence, entrepreneurship, and a strong sense of place — from Friday night football to world-renowned barbecue and music festivals. For homebuyers, Texas offers comparatively attainable housing, no personal income tax, and master-planned communities built around space and convenience; for investors, continued population growth, business relocation, and diversified industries create sustained demand across urban cores, suburbs, and emerging secondary markets.

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Population Growth

Population Growth

~1.3% annually

Net Migration

Net Migration

Positive

Median Home Price

Median Home Price

$283,800

Unemployment Rate

Unemployment Rate

4.3%

Price Trend

Price Trend

Flat

New Permits

New Permits

158,121

City: Lubbock

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2422 Fm 1294 | Property Details | No Agent List