Medical-Inspired Office
For Sale
Contact for pricing
5004 122nd St, Lubbock, TX 79424
Office space includes multiple private offices, exam rooms, and ADA restrooms, plus reception areas and central cubicle workstations.
Property Size5,535 SF
Price / SF$271
Days on Market573
Property Features for 5004 122nd St
General Information
Standard status
Active
Size
5,535 SF
Property subtype
OFFICE
Listing Agency:
Coldwell Banker Commercial Capital Advisors
(806) 787-4779
Listed By:
Jef Conn CCIM SIOR
(806) 787-4779
Source:
Moodyscre
Added: Jan 6, 2025
Changed: Jul 25
Last Checked: Aug 2 at 1:55PM
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 Capital Advisors
Investment Insights
Based on property information with market context.
Available for sale, this newer office building space is located along 122nd Street just east of Slide Road in south Lubbock. The interior features two front desk/reception areas with east and west entrance doors, along with 8 private offices, a large conference room, a break room, a work room, and central open space served by 9 cubicle workstations. There are 3 ADA restrooms throughout the suite.
The space was formerly used as a medical office and includes 3 exam rooms with water supply, plus multiple storage areas that could be converted to other uses as needed. The layout includes both employee and customer-style entries, supporting flexible day-to-day operations.
It may be possible to split the space into two offices with approximately 1,500 square feet on the west side and approximately 4,035 square feet on the east side. Contact broker to discuss the split configuration or schedule a tour.
The space was formerly used as a medical office and includes 3 exam rooms with water supply, plus multiple storage areas that could be converted to other uses as needed. The layout includes both employee and customer-style entries, supporting flexible day-to-day operations.
It may be possible to split the space into two offices with approximately 1,500 square feet on the west side and approximately 4,035 square feet on the east side. Contact broker to discuss the split configuration or schedule a tour.
Key Highlights
- Office space on 122nd Street just east of Slide Road in south Lubbock, near Oakmont Estates, Vintage Township, The Falls, Orchard Park, and Kelsey Park.
- Reception and front desk areas with east and west entrance doors (employee/customer entrances).
- 8 private offices plus a large conference room and central open area with 9 cubicle workstations.
Financial Insights For Healthcare Medical
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 | $136.2k | $24.60 |
| − Vacancy | −$12.3k | −$2.21 |
| EGI | $123.9k | $22.39 |
| − OpEx | −$49.6k | −$8.95 |
| NOI | $74.3k | $13.43 |
5,535 SF · lease $24.60/SF/yr · vacancy 9.00% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$1.06M
$929.3K – $1.24M
NOI $74,344 @ 7.0% cap · market cap 4.96%
Second Best
Office B
$1.03M
$904.5K – $1.21M
NOI $72,356 @ 7.0% cap · market cap 4.82%
Theoretical Best
Office A
$1.40M
$1.22M – $1.63M
NOI $97,677 @ 7.0% cap · market cap 6.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
368
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 building - Office space includes multiple private offices, exam rooms, and ADA restrooms, plus reception areas and central cubicle workstations.
Where is this office building located?
The property is located at 5004 122nd St Lubbock, TX.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Office space on 122nd Street just east of Slide Road in south Lubbock, near Oakmont Estates, Vintage Township, The Falls, Orchard Park, and Kelsey Park.; Reception and front desk areas with east and west entrance doors (employee/customer entrances).; 8 private offices plus a large conference room and central open area with 9 cubicle workstations.
