Built-2016 Multi-Tenant Office
For Sale
$1,200,000
13037 Quaker Ave, Lubbock, TX 79423
Fully leased multi-tenant office building with 14 suites and modern construction, providing immediate income potential for owners.
Property Size4,660 SF
Price / SF$257.51
Days on Market126
Property Features for 13037 Quaker Ave
General Information
Standard status
Active
Size
4,660 SF
Occupancy
100%
Additional Details
Cap Rate
7.77%
Office Units
14
Building Details
Year Built
2016
Tenancy
Multi
Listing Agency:
Reside Real Estate Co.
Listed By:
Lauren Egert · License #0776312
(214) 287-9631
Source:
Raftercrossrealty
Added: Jun 10
Changed: Oct 10
Last Checked: Oct 7 at 3:12PM
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 Reside Real Estate Co.
Investment Insights
Based on property information with market context.
Built in 2016, this multi-tenant office investment at 13037 Quaker Ave, Lubbock, TX features 14 office suites designed to serve a range of business needs. The property is fully occupied, with an anchor tenant currently occupying a majority of the space. The remaining suites are leased to a diverse tenant mix, creating a stable, consistent operating base within a modern, purpose-built office configuration.
Situated in a highly desirable Lubbock business corridor, the asset benefits from a tenant-ready setup intended for straightforward operations. With all spaces occupied, the property is positioned as a turnkey acquisition for buyers looking to avoid leasing downtime or re-tenanting efforts.
For investors and owner-operators, this offering provides a stabilized office income profile backed by current occupancy. Reported annual gross income is $135,792, with approximately $101,025 in Net Operating Income. It is presented for sale at $1,300,000, reflecting the stated financial performance at the time of listing. The combination of a larger anchor suite and fully leased secondary spaces makes it well-suited to buyers seeking an income-producing office asset with modern construction.
Situated in a highly desirable Lubbock business corridor, the asset benefits from a tenant-ready setup intended for straightforward operations. With all spaces occupied, the property is positioned as a turnkey acquisition for buyers looking to avoid leasing downtime or re-tenanting efforts.
For investors and owner-operators, this offering provides a stabilized office income profile backed by current occupancy. Reported annual gross income is $135,792, with approximately $101,025 in Net Operating Income. It is presented for sale at $1,300,000, reflecting the stated financial performance at the time of listing. The combination of a larger anchor suite and fully leased secondary spaces makes it well-suited to buyers seeking an income-producing office asset with modern construction.
Key Highlights
- Built in 2016: fully leased, multi‑tenant office building with 14 office suites
- Strong tenant stability with one anchor tenant occupying a majority of the space
- Current annual gross income of $135,792 and approximately $101,025 in Net Operating Income
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$60,918
Cap Rate
5.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,218,360
$1.2M
Cap Rate 7%
$870,257
$870.3K
Cap Rate 9%
$676,867
$676.9K
Market Conditions
NOI Build-Up for 4,660 SF
Gross rent
$97.9K $21.00/SF
− Vacancy
−$16.6K −$3.57/SF
EGI
$81.2K $17.43/SF
− OpEx
−$20.3K −$4.36/SF
NOI
$60.9K $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 Rate 5%
$1,218,360
Cap Rate 7%
$870,257
Cap Rate 9%
$676,867
Alternative Uses
Best Use
Office B
$870.3K
$761.5K – $1.02M
NOI $60,918 @ 7.0% cap · market cap 5.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.17M
$1.03M – $1.37M
NOI $82,236 @ 7.0% cap · market cap 6.85%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
14
Office units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
65
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
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office units - Fully leased multi-tenant office building with 14 suites and modern construction, providing immediate income potential for owners.
Where is this office units located?
The property is located at 13037 Quaker Ave Lubbock, TX.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Built in 2016: fully leased, multi‑tenant office building with 14 office suites; Strong tenant stability with one anchor tenant occupying a majority of the space; Current annual gross income of $135,792 and approximately $101,025 in Net Operating Income
