Lubbock Medical Office
3508 22nd Place Lubbock, TX 79410
For Sale
$480,000
COMMERCIAL - Lubbock, TX
Property Size2,135 SF
Lot Size0.22 Acres
Price / SF$224.82
Days on Market184
Property Features for 3508 22nd Place
General Information
- Property type
- Commercial Sale
- Property subtype
- Office
- Standard status
- Active
- APN
- R25899
- Size
- 2,135 SF
- Lot size
- 0.22 Acres
Taxes and HOA fees
- Tax Description
- Ridgelawn Blk 2 L 15 &E4'of 14
- Tax Annual Amount
- 4327
Building Details
- Year built
- 1984
Listing Agency:
Keller Williams Realty
(806) 771-7710
Listed By:
Stacey Rogers · License #0588927
(806) 368-1066
Added: Jan 22
Changed: May 14
Last Checked: Jul 25 at 4:06AM
MLS# 202601095
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 well-maintained, single-story medical office building is located in a convenient area of Central Lubbock. The property is suitable for medical, therapy, or professional office use. The layout features a spacious reception and waiting area with abundant natural light, updated flooring, and a fireplace. The floor plan includes 6 offices, a large nurses' station, a kitchenette/break room, and a storage closet. The property also features back covered private parking, easy patient access, and excellent visibility just off 22nd Place. Recent updates and neutral finishes make the 2,135 square foot space turnkey for a variety of healthcare or professional users. The lot size is 0.22 acres.
Key Highlights
- Prime Central Lubbock location with excellent visibility off 22nd Place.
- Functional layout ideal for medical, therapy, or professional office use.
- Spacious reception/waiting area with abundant natural light and fireplace.
Financial Insights For Healthcare Medical
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 | $52.5k | $24.60 |
| − Vacancy | −$4.7k | −$2.21 |
| EGI | $47.8k | $22.39 |
| − OpEx | −$19.1k | −$8.95 |
| NOI | $28.7k | $13.43 |
2,135 SF · lease $24.60/SF/yr · vacancy 9.00% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$409.7K
$358.5K – $477.9K
NOI $28,676 @ 7.0% cap · market cap 5.97%
Second Best
Office B
$398.7K
$348.9K – $465.2K
NOI $27,910 @ 7.0% cap · market cap 5.81%
Theoretical Best
Office A
$538.2K
$471.0K – $628.0K
NOI $37,677 @ 7.0% cap · market cap 7.85%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Brown Cynthia R ...
Physician
Koteswaramma Narra MD
Physician
FAQs
What type of property is this?
Medical Office Space - Well-maintained medical office in Central Lubbock, ideal for healthcare.
Where is this medical office space located?
The property is located at 3508 22nd Place Lubbock, TX.
What is the asking price?
The asking price for this property is $480,000.
What are key features of this property?
This property features: Prime Central Lubbock location with excellent visibility off 22nd Place.; Functional layout ideal for medical, therapy, or professional office use.; Spacious reception/waiting area with abundant natural light and fireplace.
