Office property in Lubbock, TX — Sale in Lubbock, TX

  • Price: $2.5M
  • Listing type: For sale
  • Asset type: Office
  • Location: Lubbock, TX 79424
  • Size: 6,630 SF
  • Year built: 2015

Photos

Office property in Lubbock, TX — Sale in Lubbock, TX, photo 1 of 3
Office property in Lubbock, TX — Sale in Lubbock, TX, photo 2 of 3
Office property in Lubbock, TX — Sale in Lubbock, TX, photo 3 of 3

Investment Figures

Cap rate
7.20%
Price per square foot
$370

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

NNN investment opportunity in SW Lubbock with a new seven-year lease (Covenant Medical Center). This 6,630 SF medical urgent care, previously licensed as a Texas free-standing emergency room, boasts versatile usage options, including urgent care medical facilities, outpatient surgery, physical therapy, chemotherapy treatment, and more. The property enjoys high visibility with about 33,000 (VPD), surrounded by retail centers, restaurants, and offices. This property has a land lease with 30 years remaining on the lease. Financials on p.2 of flyer; 7.2% cap rate on average NOI over 7 years. Building SF: 6630 | Year Built: 2015 | Listing Type: FOR SALE

Market Context

This office in Lubbock, TX is listed for sale at $2,450,000 across 6,630 SF ($370/SF). It is offered at an approximate 7.2% capitalization rate, a key benchmark for income-producing office assets. The building dates to 2015. Compare it against other office listings for sale in Lubbock, TX — view the full market.

Estimated Price per SF

$111.57/SF – $811.39/SF

Mid: $338.08/SF

Estimated price for 6,630 SF: $2,241,470 (range $739,709 – $5,379,516)

About 8 in 10 recent recorded sales fell within a range this wide around the estimate. An automated estimate, not an appraisal.

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