Modern Single-Tenant Office
For Sale
$940,000
5312 114th Street, Lubbock, TX 79424
Completed in 2021, this single-tenant office building is fully leased under a recently renewed two-year term.
Property Size4,179 SF
Price / SF$224.93
Days on Market12
Property Features for 5312 114th Street
General Information
Standard status
Active
Size
4,179 SF
Class
A
Property subtype
Office
Occupancy
100%
Building Details
Year Built
2019
Tenancy
Single
Listing Agency:
WestMark Commercial | TCN Worldwide
(806) 776-2833
Listed By:
Karen Higgins, CCIM · License #TX #0331521-B
Source:
Westmarkcommercial
Added: Jul 24
Changed: Jul 25
Last Checked: Aug 4 at 5:48AM
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 WestMark Commercial | TCN Worldwide
Investment Insights
Based on property information with market context.
Completed in 2021, this Class A, single-tenant office building totals 4,179 square feet and is fully leased. The property includes a recently renewed two-year lease and built-in rental escalations designed to support income growth.
Located on 114th Street just west of Slide Road, the building is positioned within a surrounding mix of professional offices, retail, restaurants, and rapidly growing residential development.
With its completed modern design and current occupancy, the asset presents a straightforward, leased office investment opportunity centered on one tenant.
Located on 114th Street just west of Slide Road, the building is positioned within a surrounding mix of professional offices, retail, restaurants, and rapidly growing residential development.
With its completed modern design and current occupancy, the asset presents a straightforward, leased office investment opportunity centered on one tenant.
Key Highlights
- 4,179 SF single‑tenant Class A office building completed in 2021
- 100% leased; recently renewed two‑year lease in place
- Built‑in rental escalations provide income growth
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 | $87.8k | $21.00 |
| − Vacancy | −$14.9k | −$3.57 |
| EGI | $72.8k | $17.43 |
| − OpEx | −$18.2k | −$4.36 |
| NOI | $54.6k | $13.07 |
4,179 SF · lease $21.00/SF/yr · vacancy 17.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$780.4K
$682.9K – $910.5K
NOI $54,630 @ 7.0% cap · market cap 5.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.05M
$921.9K – $1.23M
NOI $73,748 @ 7.0% cap · market cap 7.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
326
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 - Completed in 2021, this single-tenant office building is fully leased under a recently renewed two-year term.
Where is this office building located?
The property is located at 5312 114th Street Lubbock, TX.
What is the asking price?
The asking price for this property is $940,000.
What are key features of this property?
This property features: 4,179 SF single‑tenant Class A office building completed in 2021; 100% leased; recently renewed two‑year lease in place; Built‑in rental escalations provide income growth
