Well-Appointed Office Building in
3214 140th Street Lubbock, TX 79423
For Sale
$1,150,000
COMMERCIAL - Lubbock, TX
Property Size4,043 SF
Lot Size0.42 Acres
Price / SF$284.44
Days on Market185
Property Features for 3214 140th Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Office
- Standard status
- Active
- APN
- R332884
- Size
- 4,043 SF
- Lot size
- 0.42 Acres
Taxes and HOA fees
- Tax Description
- Viridian Estates Tr G
- Tax Annual Amount
- 9362
Building Details
- Year built
- 2023
Listing Agency:
Reside Real Estate Co.
(806) 646-6423
Listed By:
Lauren Egert · License #0776312
(214) 287-9631
Added: Jan 20
Changed: May 7
Last Checked: Jul 24 at 8:06AM
MLS# 202600906
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 off 140th & Indiana and minutes from Loop 88, this office building is situated in a fast-growing corridor of Lubbock, surrounded by new residential development and key municipal services. The area's expansion and demographics support investors and owner-users. The property features a functional layout, including 13 private offices, a large conference room, a reception area with front desk, two restrooms, and a kitchenette. The design supports a range of uses including medical, professional, and service-based businesses, while also allowing flexibility for multi-tenant configurations. Built with modern construction and designed for low maintenance, the building offers curb appeal and operational efficiency. Ample parking and convenient access enhance the experience for both employees and clientele. The property is 4043 square feet and sits on a 0.42-acre lot.
Key Highlights
- High‑growth location near 140th & Indiana, minutes from Loop 88.
- Projected $84,903 NOI and a 7.4% stabilized cap rate based on market lease rates.
- Efficient layout with 13 private offices and a large conference room.
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $84.9k | $21.00 |
| − Vacancy | −$14.4k | −$3.57 |
| EGI | $70.5k | $17.43 |
| − OpEx | −$17.6k | −$4.36 |
| NOI | $52.9k | $13.07 |
4,043 SF · lease $21.00/SF/yr · vacancy 17.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$755.0K
$660.7K – $880.9K
NOI $52,852 @ 7.0% cap · market cap 4.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.02M
$891.9K – $1.19M
NOI $71,348 @ 7.0% cap · market cap 6.20%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Office buildings
FAQs
What type of property is this?
Office building - Office building in a fast-growing corridor near residential development.
Where is this office building located?
The property is located at 3214 140th Street Lubbock, TX.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: High‑growth location near 140th & Indiana, minutes from Loop 88.; Projected $84,903 NOI and a 7.4% stabilized cap rate based on market lease rates.; Efficient layout with **13 private offices and a large conference room**.
