Office Building with Private
For Sale
$1,250,000
10210 Frankford Avenue, Lubbock, TX 79424
Commercial Sale, Lubbock, TX
Property Size7,224 SF
Lot Size0.39 Acres
Price / SF$173.03
Days on Market357
Property Features for 10210 Frankford Avenue
General Information
Property type
Commercial Sale
Property subtype
Office
Elementary school district
Lubbock-Cooper ISD
Middle school district
Lubbock-Cooper ISD
High school district
Lubbock-Cooper ISD
Subdivision
7
Standard status
Active
Size
7,224 SF
Lot size
0.39 Acres
Amenities
18 private offices
dedicated network cabling
conference room
entry foyer with fireplace
three private unisex bathrooms
private employee courtyard
Tesla charger
new roof
Building Details
Year built
2017
Listing Agency:
eXp Realty LLC
(888) 519-7431
Listed By:
Jacoby Madewell · License #0637317
(512) 777-9581
Added: Sep 26, 2025
Changed: Sep 5
Last Checked: Sep 17 at 9:06AM
MLS# 202561112
Copyright © 2026 Lubbock Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 7,224-square-foot office building, constructed in 2017, is arranged with 18 private offices, each featuring dedicated network cabling. A conference room supports meetings, while the entry foyer includes a fireplace that adds a defined reception setting. Three private unisex bathrooms serve the building, and a private employee courtyard provides outdoor break space. Additional features include a Tesla charger and a new roof noted as coming soon.
The property occupies 0.39 acres at 10210 Frankford Avenue in Lubbock, Texas 79424. Its office-focused layout combines individual work areas with shared meeting, reception, restroom, and outdoor amenities.
The property occupies 0.39 acres at 10210 Frankford Avenue in Lubbock, Texas 79424. Its office-focused layout combines individual work areas with shared meeting, reception, restroom, and outdoor amenities.
Key Highlights
- 18 private offices with dedicated network cabling
- 7,224 square feet on 0.39 acres
- Conference room and fireplace‑equipped entry foyer
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$94,436
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.55%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,888,720
$1.9M
Cap Rate 7%
$1,349,086
$1.3M
Cap Rate 9%
$1,049,289
$1.0M
Market Conditions
NOI Build-Up for 7,224 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$151.7K $21.00/SF
− Vacancy
−$25.8K −$3.57/SF
EGI
$125.9K $17.43/SF
− OpEx
−$31.5K −$4.36/SF
NOI
$94.4K $13.07/SF
Area
Lubbock, TX
Vacancy
17.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,888,720
Cap Rate 7%
$1,349,086
Cap Rate 9%
$1,049,289
Alternative Uses
Best Use
Office B
$1.35M
$1.18M – $1.57M
NOI $94,436 @ 7.0% cap · market cap 7.55%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.82M
$1.59M – $2.12M
NOI $127,483 @ 7.0% cap · market cap 10.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
164
Businesses Nearby
Explore this area
Business Placement
Demographics for 79424, TX
53,479
Population
22,800
Households
2.3
Avg Household Size
38
Median Age
47%
College-Educated
95%
High-School Grad
41.6 sq mi
ZIP Area
1,286
Density / Sq Mi
$94,703
Median Household Income
$52,417
Median Earnings
$1,151
Median Rent
$279,600
Median Home Value
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - Professional configuration includes dedicated network cabling, meeting space, and a private employee courtyard.
Where is this office building located?
The property is located at 10210 Frankford Avenue Lubbock, TX.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 18 private offices with dedicated network cabling; 7,224 square feet on 0.39 acres; Conference room and fireplace‑equipped entry foyer
