Medical and Professional Office
For Sale
$1,450,000
10933 Wayne Ave, Lubbock, TX 79424
Built in 2025, this office building offers 12 private offices or exam rooms with reception, waiting, and staff support space.
Property Size4,570 SF
Price / SF$317.29
Days on Market75
Property Features for 10933 Wayne Ave
General Information
Standard status
Active
Size
4,570 SF
Additional Details
Office Units
12
Taxes and HOA fees
Annual Taxes
$2,535
Amenities
central nurses' station
reception and waiting area
executive office with private restroom
two public restrooms
dedicated employee restroom
staff break lounge
Building Details
Year Built
2025
Listing Agency:
eXp Realty LLC
(888) 519-7431
Listed By:
Benjamin Hargrove · License #0672833
(806) 786-5838
Source:
Exprealty
Added: Jul 2
Changed: Aug 20
Last Checked: Sep 14 at 5:13AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of eXp Realty LLC
Investment Insights
Based on property information with market context.
Built in 2025, this professional office building is designed for medical, wellness, and other client-facing services. The interior layout includes 12 private offices or exam rooms, a centrally located nurses’ station, a reception area, and a spacious waiting room. A dedicated executive office suite with a private restroom adds space for ownership or senior leadership, while two public restrooms, a dedicated employee restroom, and a staff break lounge support day-to-day operations.
The property is located near the new UMC Hospital, positioned for accessibility by patients, clients, and staff. It is intended to serve medical specialists, wellness providers, and other professional office users seeking a turnkey, modern setting.
With its combination of private treatment or office rooms, centralized clinical workflow space, and supportive staff amenities, the building offers a functional configuration for multi-room practices and coordinated appointments.
The property is located near the new UMC Hospital, positioned for accessibility by patients, clients, and staff. It is intended to serve medical specialists, wellness providers, and other professional office users seeking a turnkey, modern setting.
With its combination of private treatment or office rooms, centralized clinical workflow space, and supportive staff amenities, the building offers a functional configuration for multi-room practices and coordinated appointments.
Key Highlights
- Built in 2025: 4,500+ SF professional office building near the new UMC Hospital
- 12 private offices and/or exam rooms plus reception and a waiting area
- Central nurses' station to support clinical workflow
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
$61,382
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
4.23%
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%
$1,227,640
$1.2M
Cap Rate 7%
$876,886
$876.9K
Cap Rate 9%
$682,022
$682.0K
Market Conditions
NOI Build-Up for 4,570 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
$112.4K $24.60/SF
− Vacancy
−$10.1K −$2.21/SF
EGI
$102.3K $22.39/SF
− OpEx
−$40.9K −$8.95/SF
NOI
$61.4K $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%
$1,227,640
Cap Rate 7%
$876,886
Cap Rate 9%
$682,022
Alternative Uses
Best Use
Healthcare Medical
$876.9K
$767.3K – $1.02M
NOI $61,382 @ 7.0% cap · market cap 4.23%
Second Best
Office B
$853.4K
$746.8K – $995.7K
NOI $59,741 @ 7.0% cap · market cap 4.12%
Theoretical Best
Office A
$1.15M
$1.01M – $1.34M
NOI $80,648 @ 7.0% cap · market cap 5.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
12
Office units
Location Intelligence
Trade Area within ½ mile
449
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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Cap Rate, Value Estimation, Potential NOI and more
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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?
Medical center - Built in 2025, this office building offers 12 private offices or exam rooms with reception, waiting, and staff support space.
Where is this medical center located?
The property is located at 10933 Wayne Ave Lubbock, TX.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: Built in 2025: 4,500+ SF professional office building near the new UMC Hospital; 12 private offices and/or exam rooms plus reception and a waiting area; Central nurses' station to support clinical workflow
