Pool-View Office
New
For Sale
$295,000
12002 Trafalgar Avenue Unit #202, Lubbock, TX 79424
Second-floor space within Vintage Market Hall is zoned Broadway MU-2 and may be vacated by the tenant with 60 days’ notice.
Property Size1,734 SF
Price / SF$170.13
Days on Market5
Property Features for 12002 Trafalgar Avenue Unit #202
General Information
Standard status
Active
Size
1,734 SF
Property subtype
Office
Zoning
BroadwayMU-2
Additional Details
Floor
2
Building Details
Building Size
1,734 SF
Year Built
2009
Listing Agency:
Coldwell Banker Commercial | Lubbock
(806) 787-4779
Listed By:
Jef Conn
(806) 787-4779
Source:
Cbcworldwide
Added: Aug 20
Changed: Aug 24
Last Checked: Aug 23 at 2:28AM
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 Coldwell Banker Commercial | Lubbock
Investment Insights
Based on property information with market context.
Suite 202 is a 1,734 SF office unit on the second floor of Vintage Market Hall within Vintage Township. Constructed in 2009, the space overlooks the pool and is configured for office use. The existing tenant may vacate with 60 days notice, offering flexibility for continued occupancy or future owner use.
The property is positioned between Trafalgar Avenue and Topeka Avenue, off 120th Boulevard, in Lubbock. Broadway MU-2 zoning applies to the unit. Its location within Vintage Market Hall provides a defined commercial setting for an office user or purchaser seeking space in an established development.
The property is positioned between Trafalgar Avenue and Topeka Avenue, off 120th Boulevard, in Lubbock. Broadway MU-2 zoning applies to the unit. Its location within Vintage Market Hall provides a defined commercial setting for an office user or purchaser seeking space in an established development.
Key Highlights
- 1,734 SF second‑floor office unit
- Pool‑facing view from Suite 202
- Located within Vintage Market Hall at Vintage Township
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
$22,668
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
7.68%
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%
$453,360
$453.4K
Cap Rate 7%
$323,829
$323.8K
Cap Rate 9%
$251,867
$251.9K
Market Conditions
NOI Build-Up for 1,734 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
$36.4K $21.00/SF
− Vacancy
−$6.2K −$3.57/SF
EGI
$30.2K $17.43/SF
− OpEx
−$7.6K −$4.36/SF
NOI
$22.7K $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%
$453,360
Cap Rate 7%
$323,829
Cap Rate 9%
$251,867
Alternative Uses
Best Use
Office B
$323.8K
$283.4K – $377.8K
NOI $22,668 @ 7.0% cap · market cap 7.68%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$437.1K
$382.5K – $510.0K
NOI $30,600 @ 7.0% cap · market cap 10.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
364
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
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?
Office units - Second-floor space within Vintage Market Hall is zoned Broadway MU-2 and may be vacated by the tenant with 60 days’ notice.
Where is this office units located?
The property is located at 12002 Trafalgar Avenue Unit #202 Lubbock, TX.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: 1,734 SF second‑floor office unit; Pool‑facing view from Suite 202; Located within Vintage Market Hall at Vintage Township
