Office-Retail Property with
For Sale
Contact for pricing
7402 University Ave, Lubbock, TX 79423
3,085 sf office/retail property with parking and visibility just off South Loop 289.
Property Size3,085 SF
Price / SF$155.59
Days on Market149
Property Features for 7402 University Ave
General Information
Standard status
Active
Size
3,085 SF
Property subtype
OFFICE
Amenities
great parking
Listing Agency:
McDougal, REALTORS
(806) 215-7023
Listed By:
Carrigan Williams · License #773761
(806) 215-7023
Source:
Moodyscre
Added: Mar 3
Changed: Jul 23
Last Checked: Jul 23 at 11:14AM
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 McDougal, REALTORS
Investment Insights
Based on property information with market context.
This 3,085 sf office/retail property is located just off South Loop 289 and is described as having exceptional visibility and easy access. The site is positioned next to Target and near one of the largest electric vehicle charging stations in Lubbock.
The offering includes great parking, supporting customer-facing office or retail use. The property is presented as an opportunity for an owner-user or investor seeking exposure along one of Lubbock’s primary retail corridors.
The offering includes great parking, supporting customer-facing office or retail use. The property is presented as an opportunity for an owner-user or investor seeking exposure along one of Lubbock’s primary retail corridors.
Key Highlights
- 3,085 SF office/retail property just off South Loop 289
- Exceptional visibility with easy access along a primary retail corridor
- Located next to Target and adjacent to one of Lubbock’s largest electric vehicle charging stations
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $64.8k | $21.00 |
| − Vacancy | −$11.0k | −$3.57 |
| EGI | $53.8k | $17.43 |
| − OpEx | −$13.4k | −$4.36 |
| NOI | $40.3k | $13.07 |
3,085 SF · lease $21.00/SF/yr · vacancy 17.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$576.1K
$504.1K – $672.2K
NOI $40,329 @ 7.0% cap · market cap 8.40%
Second Best
Retail
$425.7K
$372.5K – $496.7K
NOI $29,801 @ 7.0% cap · market cap 6.21%
Theoretical Best
Office A
$777.7K
$680.5K – $907.4K
NOI $54,442 @ 7.0% cap · market cap 11.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
404
Businesses Nearby
Explore this area
Business Placement
Demographics for 79423, TX
42,311
Population
18,463
Households
2.3
Avg Household Size
35
Median Age
38%
College-Educated
94%
High-School Grad
64.2 sq mi
ZIP Area
659
Density / Sq Mi
$82,906
Median Household Income
$45,520
Median Earnings
$1,284
Median Rent
$222,500
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 building - 3,085 sf office/retail property with parking and visibility just off South Loop 289.
Where is this office building located?
The property is located at 7402 University Ave Lubbock, TX.
What is the asking price?
The asking price for this property is $480,000.
What are key features of this property?
This property features: 3,085 SF office/retail property just off South Loop 289; Exceptional visibility with easy access along a primary retail corridor; Located next to Target and adjacent to one of Lubbock’s largest electric vehicle charging stations
