Move-In-Ready Office
For Sale
$540,000
Pending
8009 Genoa Ave, Lubbock, TX 79424
Office suite includes reception, private offices, a conference room, restroom, and storage, currently leased through February 2027.
Property Size2,457 SF
Days on Market48
Property Features for 8009 Genoa Ave
General Information
Standard status
Pending
Size
2,457 SF
Amenities
reception area
private offices
conference room
on-site restroom
storage
Building Details
Year Built
2019
Listing Agency:
ALL Real Estate, LLC
Listed By:
Amy Cox · License #0667992
(806) 543-6095
Source:
Raftercrossrealty
Added: Jul 20
Changed: Aug 8
Last Checked: Sep 4 at 10:35AM
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 move-in-ready office suite is designed for day-to-day business operations, with a welcoming reception area, private offices, and a dedicated conference room. The suite also includes an on-site restroom and ample storage to support a functional workflow.
The property is positioned with easy access and ample parking, and it benefits from visibility in a surrounding mix of established neighborhoods, retail, and major thoroughfares.
The suite is currently leased through February 2027, offering continuity for an investor and potential timing flexibility for an owner-occupant planning ahead.
The property is positioned with easy access and ample parking, and it benefits from visibility in a surrounding mix of established neighborhoods, retail, and major thoroughfares.
The suite is currently leased through February 2027, offering continuity for an investor and potential timing flexibility for an owner-occupant planning ahead.
Key Highlights
- Office suite built in 2019 with reception, private offices, a dedicated conference room, restroom, and ample storage
- Currently leased through February 2027
- Move‑in‑ready office layout designed for professional use with reception, conference, and private office spaces
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
$32,119
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
5.95%
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%
$642,380
$642.4K
Cap Rate 7%
$458,843
$458.8K
Cap Rate 9%
$356,878
$356.9K
Market Conditions
NOI Build-Up for 2,457 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
$51.6K $21.00/SF
− Vacancy
−$8.8K −$3.57/SF
EGI
$42.8K $17.43/SF
− OpEx
−$10.7K −$4.36/SF
NOI
$32.1K $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%
$642,380
Cap Rate 7%
$458,843
Cap Rate 9%
$356,878
Alternative Uses
Best Use
Office B
$458.8K
$401.5K – $535.3K
NOI $32,119 @ 7.0% cap · market cap 5.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$619.4K
$542.0K – $722.7K
NOI $43,359 @ 7.0% cap · market cap 8.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
415
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
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Frequently Asked Questions
What type of property is this?
Office units - Office suite includes reception, private offices, a conference room, restroom, and storage, currently leased through February 2027.
Where is this office units located?
The property is located at 8009 Genoa Ave Lubbock, TX.
What is the asking price?
The asking price for this property is $540,000.
What are key features of this property?
This property features: Office suite built in 2019 with reception, private offices, a dedicated conference room, restroom, and ample storage; Currently leased through February 2027; Move‑in‑ready office layout designed for professional use with reception, conference, and private office spaces
