Fully Leased Multi-Tenant Office
For Sale
$1,300,000
13037 Quaker Avenue, Lubbock, TX 79423
Commercial Sale, Lubbock, TX
Property Size4,660 SF
Lot Size0.52 Acres
Price / SF$278.97
Days on Market161
Property Features for 13037 Quaker Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Lot features
Paved, Level
Subdivision
11
Standard status
Active
APN
R324878
Size
4,660 SF
Lot size
0.52 Acres
Taxes and HOA fees
Tax Description
Kelsey Park Tr J
Tax Annual Amount
21309
Legal Description
Kelsey Park Tr J
Utilities
Heating system
Central
Cooling system
Central Air
Building Details
Year built
2016
Floors in Building
1
Roof type
Composition
Listing Agency:
Reside Real Estate Co.
(806) 646-6423
Listed By:
Lauren Egert · License #0776312
(214) 287-9631
Added: Apr 1
Changed: Sep 6
Last Checked: Sep 8 at 12:06PM
MLS# 202604211
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.
Located at 13037 Quaker Avenue in Lubbock, this office building contains 4,660 square feet on a 0.52-acre site. Completed in 2016, the property includes 14 office suites arranged for multi-tenant occupancy, with all suites currently leased. A primary tenant occupies most of the building, while additional occupants comprise a varied tenancy profile across the remaining suites.
The property is equipped with central heating and central air conditioning and has a composition roof. Its fully occupied configuration, established office layout, and contemporary construction provide a straightforward commercial asset for an owner seeking an existing leased property. The building is situated in Lubbock County, Texas, within the 79423 postal area.
The property is equipped with central heating and central air conditioning and has a composition roof. Its fully occupied configuration, established office layout, and contemporary construction provide a straightforward commercial asset for an owner seeking an existing leased property. The building is situated in Lubbock County, Texas, within the 79423 postal area.
Key Highlights
- 14 office suites within a 4,660‑square‑foot building
- All suites are currently leased
- Built in 2016 on a 0.52‑acre site
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
$60,918
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
4.69%
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%
$1,218,360
$1.2M
Cap Rate 7%
$870,257
$870.3K
Cap Rate 9%
$676,867
$676.9K
Market Conditions
NOI Build-Up for 4,660 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
$97.9K $21.00/SF
− Vacancy
−$16.6K −$3.57/SF
EGI
$81.2K $17.43/SF
− OpEx
−$20.3K −$4.36/SF
NOI
$60.9K $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%
$1,218,360
Cap Rate 7%
$870,257
Cap Rate 9%
$676,867
Alternative Uses
Best Use
Office B
$870.3K
$761.5K – $1.02M
NOI $60,918 @ 7.0% cap · market cap 4.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.17M
$1.03M – $1.37M
NOI $82,236 @ 7.0% cap · market cap 6.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
14
Office units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
65
Businesses Nearby
Explore this area
Business Placement
Demographics for 79423, TX
42,311
Population
18,463
Households
2.3
Avg Household Size
35
Median Age
38%
College-Educated
94%
High-School Grad
64.2 sq mi
ZIP Area
659
Density / Sq Mi
$82,906
Median Household Income
$45,520
Median Earnings
$1,284
Median Rent
$222,500
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Modern office asset with occupied suites, central heating, and central air conditioning.
Where is this office building located?
The property is located at 13037 Quaker Avenue Lubbock, TX.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: 14 office suites within a 4,660‑square‑foot building; All suites are currently leased; Built in 2016 on a 0.52‑acre site
