Two-Suite Medical Office
For Sale
$1,399,999
6102 82nd Street, Lubbock, TX 79424
COMMERCIAL - Lubbock, TX
Property Size4,300 SF
Lot Size0.22 Acres
Price / SF$325.58
Days on Market164
Property Features for 6102 82nd Street
General Information
Property type
Commercial Sale
Property subtype
Other
Elementary school district
Frenship ISD
Middle school district
Frenship ISD
High school district
Frenship ISD
Subdivision
7
Standard status
Active
APN
R303766
Size
4,300 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Description
CASCADA PROFESSIONAL OFFICE PARK L 12
Legal Description
CASCADA PROFESSIONAL OFFICE PARK L 12
Amenities
spacious break room
ADA-compliant restroom
professional landscaping
Building Details
Year built
2014
Listing Agency:
ALL Real Estate, LLC
(806) 543-6095
Listed By:
Amy Cox · License #0667992
(806) 939-4201
Added: Mar 26
Changed: Aug 4
Last Checked: Sep 5 at 8:06AM
MLS# 202603950
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.
Built in 2014, this 4,300-square-foot medical office property is arranged as two distinct suites. The 3,292-square-foot Suite A is configured for orthodontic services. Suite B measures 1,007 square feet and includes four private offices, a break room, and an ADA-compliant restroom; it is currently leased.
The building occupies a 0.22-acre site within Stone Crest Office Park at the northwest corner of 82nd Street and Iola Avenue in Lubbock. Exterior materials include stone, stucco, and wood beam accents, with professional landscaping completing the site improvements. Access to the Marsha Sharp Freeway and Loop 289 supports connectivity to the surrounding business district.
The building occupies a 0.22-acre site within Stone Crest Office Park at the northwest corner of 82nd Street and Iola Avenue in Lubbock. Exterior materials include stone, stucco, and wood beam accents, with professional landscaping completing the site improvements. Access to the Marsha Sharp Freeway and Loop 289 supports connectivity to the surrounding business district.
Key Highlights
- 4,300 SF medical office property built in 2014
- Two suites measuring 3,292 SF and 1,007 SF
- Suite A configured as an orthodontic office
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
$57,756
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
4.13%
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%
$1,155,120
$1.2M
Cap Rate 7%
$825,086
$825.1K
Cap Rate 9%
$641,733
$641.7K
Market Conditions
NOI Build-Up for 4,300 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
$105.8K $24.60/SF
− Vacancy
−$9.5K −$2.21/SF
EGI
$96.3K $22.39/SF
− OpEx
−$38.5K −$8.95/SF
NOI
$57.8K $13.43/SF
Area
Lubbock, TX
Vacancy
9.00%
Lease Rate
$24.60 /SF/Yr
Expense Ratio
40.00%
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%
$1,155,120
Cap Rate 7%
$825,086
Cap Rate 9%
$641,733
Alternative Uses
Best Use
Healthcare Medical
$825.1K
$722.0K – $962.6K
NOI $57,756 @ 7.0% cap · market cap 4.13%
Second Best
Office B
$803.0K
$702.7K – $936.9K
NOI $56,212 @ 7.0% cap · market cap 4.02%
Theoretical Best
Office A
$1.08M
$948.5K – $1.26M
NOI $75,883 @ 7.0% cap · market cap 5.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Office units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
649
Businesses Nearby
Under-served
Demand for This Use
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Medical Office Space - Includes an orthodontic suite and a separately leased office suite.
Where is this medical office space located?
The property is located at 6102 82nd Street Lubbock, TX.
What is the asking price?
The asking price for this property is $1,399,999.
What are key features of this property?
This property features: 4,300 SF medical office property built in 2014; Two suites measuring 3,292 SF and 1,007 SF; Suite A configured as an orthodontic office
