New Office Space For
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6305 79th St, Lubbock, TX
Newly constructed office space designed for productivity and collaboration.
Property Size2,353 SF
Lot Size1.29 Acres
Price / SF$285
Days on Market597
Property Features for 6305 79th St
General Information
Standard status
Active
Size
2,353 SF
Lot size
1.29 Acres
Property subtype
OFFICE
Lease Type
NNN
Properties For Sale
at 6305 79th St Contact us- Size
- 2,353 SF
- Type
- OFFICE
- Lease Type
- NNN
- Availability
- AVAILABLE
6305 79th Street
Step into this newly constructed office space designed to foster productivity and...
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Listing Agency:
WestMark Commercial | TCN Worldwide
(806) 794-3300
Listed By:
Karen Higgins, CCIM · License ##0331521-B
(806) 781-3875
Source:
Moodyscre
Added: Jan 13, 2025
Changed: Aug 27
Last Checked: Sep 1 at 10:53PM
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 WestMark Commercial | TCN Worldwide
Investment Insights
Based on property information with market context.
This newly constructed office space is designed to foster productivity and collaboration. The office features six private offices and a larger conference room located at the front, providing easy access to the lobby and reception area. A fully equipped break room is situated at the rear of the office, offering ample space for employees. The layout includes two separate restrooms and a centrally located copy/work room. The property is located in Lubbock, TX. The office space contains 2353 square feet. This office is suitable for businesses seeking a professional environment with necessary amenities.
Key Highlights
- Newly constructed office space.
- 6 Private Offices and a large conference room.
- Excellent location.
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
$30,760
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
4.59%
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%
$615,200
$615.2K
Cap Rate 7%
$439,429
$439.4K
Cap Rate 9%
$341,778
$341.8K
Market Conditions
NOI Build-Up for 2,353 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
$49.4K $21.00/SF
− Vacancy
−$8.4K −$3.57/SF
EGI
$41.0K $17.43/SF
− OpEx
−$10.3K −$4.36/SF
NOI
$30.8K $13.07/SF
Area
Lubbock, TX
Vacancy
17.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
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%
$615,200
Cap Rate 7%
$439,429
Cap Rate 9%
$341,778
Alternative Uses
Best Use
Office B
$439.4K
$384.5K – $512.7K
NOI $30,760 @ 7.0% cap · market cap 4.59%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$593.2K
$519.1K – $692.1K
NOI $41,524 @ 7.0% cap · market cap 6.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
469
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Newly constructed office space designed for productivity and collaboration.
Where is this office units located?
The property is located at 6305 79th St Lubbock, TX.
What is the asking price?
The asking price for this property is $670,605.
What are key features of this property?
This property features: Newly constructed office space.; 6 Private Offices and a large conference room.; Excellent location.
