Office Suites in Stone Crest
For Sale
$1,399,999
6102 82nd St Unit 12, Lubbock, TX 79424
Two leased office suites feature orthodontic space, private offices, and an ADA-compliant restroom within a professionally landscaped building.
Property Size4,300 SF
Price / SF$325.58
Days on Market48
Property Features for 6102 82nd St Unit 12
General Information
Standard status
Active
Size
4,300 SF
Additional Details
Highway Access
Yes
Office Units
2
Building Details
Year Built
2014
Tenancy
Multi
Listing Agency:
ALL Real Estate, LLC
Listed By:
Amy Cox · License #0667992
(806) 543-6095
Source:
Raftercrossrealty
Added: Jul 20
Changed: Sep 3
Last Checked: Sep 4 at 8:36AM
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 ALL Real Estate, LLC
Investment Insights
Based on property information with market context.
This property consists of two well-appointed office suites within a single building. Suite A is set up as an orthodontic office. Suite B is configured with four private offices, a spacious break room, and an ADA-compliant restroom, and it is currently leased.
The building exterior features a blend of stone, stucco, and wooden beam accents, complemented by professional landscaping. The property is located in Stone Crest Office Park at the northwest corner of 82nd Street and Iola Avenue, with convenient access to the Marsha Sharp Freeway and Loop 289 for connectivity and visibility in the business district.
With two distinct office-suite configurations, the property can fit an owner-user looking to occupy one suite while retaining the benefit of existing leasing within the other.
The building exterior features a blend of stone, stucco, and wooden beam accents, complemented by professional landscaping. The property is located in Stone Crest Office Park at the northwest corner of 82nd Street and Iola Avenue, with convenient access to the Marsha Sharp Freeway and Loop 289 for connectivity and visibility in the business district.
With two distinct office-suite configurations, the property can fit an owner-user looking to occupy one suite while retaining the benefit of existing leasing within the other.
Key Highlights
- Two leased office suites in a 2014‑built Stone Crest Office Park building
- Suite A: 3,292 SF orthodontic office suite (currently leased)
- Suite B: 1,007 SF with four private offices, a break room, and an ADA‑compliant restroom (currently leased)
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
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
586
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 - Two leased office suites feature orthodontic space, private offices, and an ADA-compliant restroom within a professionally landscaped building.
Where is this office units located?
The property is located at 6102 82nd St Unit 12 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: Two leased office suites in a 2014‑built Stone Crest Office Park building; Suite A: 3,292 SF orthodontic office suite (currently leased); Suite B: 1,007 SF with four private offices, a break room, and an ADA‑compliant restroom (currently leased)
