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    Medical Office Building with 2025 Build Title is generated by Realmo AI

    10933 Wayne Avenue, Lubbock, TX 79424

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    Claim this Listing
    New
    For Sale
    $1,450,000

    COMMERCIAL - Lubbock, TX

    Property size:
    4,570 SF
    Lot size:
    0.40 Acres
    Price / SF:
    $317/SF
    Added:
    Jun 3, 2026
    Days on Market:
    3
    Last Refresh:
    Jun 5 at 5:06 pm

    Property Features for 10933 Wayne Avenue

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Property condition
    Under Construction
    Parking features
    Parking Lot
    Security features
    Security System
    Standard status
    Active
    APN
    R353416
    Size
    4,570 SF
    Lot size
    0.40 Acres

    Taxes and HOA fees

    Tax Description
    Epic North Tr K
    Tax Annual Amount
    2536

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Central
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    2025
    Flooring type
    Vinyl
    Building materials
    Brick, Stone
    Roof type
    Composition

    We can help!

    Listing Contact
    Benjamin Hargrove
    Benjamin Hargrove

    Listing agent Benjamin Hargrove License #0672833

    Listing office eXp Realty LLC 5605 N MacArthur Blvd 10th Flr, Austin, TX

    Listing date Jun 3, 2026

    MLS# 202607720

    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.

    HighLights

    • Built in 2025: 4,500+ SF professional office building near new UMC Hospital
    • Floor plan includes 12 private offices/exam rooms plus centrally located nurses’ station
    • Reception and spacious waiting area for clients/patients
    • Executive office suite with private restroom
    • Two public restrooms, a dedicated employee restroom, and a staff break lounge
    • Central heating and central air; brick and stone exterior; vinyl flooring; composition roof

    Overview

    Built in 2025, this approximately 4,570-square-foot medical and professional office building is designed for healthcare- and service-oriented practices. The interior layout includes 12 private offices and/or exam rooms, a central nurses’ station, and a reception area supported by a spacious waiting room. An executive office suite with a private restroom provides an additional enclosed workspace for ownership or senior leadership. The building is also improved with two public restrooms, a dedicated employee restroom, and a staff break lounge.

    Located near the new UMC Hospital in Lubbock, the property is positioned to serve medical and wellness-related users seeking a nearby base for patient and client traffic. The site includes a 0.4-acre lot, providing room for the building within a compact parcel setting.

    This facility fits medical specialists, wellness providers, and professional service users who want a functional mix of private rooms and shared intake and support space. The central nurses’ station and multiple restroom options help accommodate both staff workflows and client needs, while the reception and waiting areas support consistent front-of-house operations for multi-provider practices or single-tenant ownership.
    Property Profile Location Intelligence

    Current Use by Public Records

    Medical Office Space

    Suggested Use

    Law Firm Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Animal Medical Center — 10209 Quaker Ave, Lubbock, TX 79424
    • Schwede Gary DVM — slide rd, lubbock, tx 79410

    Location Insight

    • Map
    • Local Demand
    City
    Lubbock
    County
    Lubbock
    State
    Texas
    Longitude
    -101.918274
    Latitude
    33.494684

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    FAQs

    What type of property is this?
    Medical Office Space - Newly built professional office offering private exam and office rooms, reception, and centralized nursing support areas.
    Where is this medical office space located?
    The property is located at 10933 Wayne Avenue 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 new UMC Hospital; Floor plan includes 12 private offices/exam rooms plus centrally located nurses’ station; Reception and spacious waiting area for clients/patients
    (806) 786-5838
    We can help!
    Listing Contact
    Benjamin Hargrove
    Benjamin Hargrove
    Real Estate License ID: 0672833
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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