New Construction Office Park
For Sale
Contact for pricing
13916-14102 Indiana Ave, Lubbock, TX 79423
Newly developed office building with 7 private offices, breakroom, and workroom/copy room plus front and back door parking.
Property Size2,232 SF
Price / SF$285
Days on Market646
Property Features for 13916-14102 Indiana Ave
General Information
Standard status
Active
Size
2,232 SF
Property subtype
OFFICE
Listing Agency:
WestMark Commercial | TCN Worldwide
(806) 794-3300
Listed By:
Karen Higgins, CCIM · License ##0331521-B
(806) 781-3875
Source:
Moodyscre
Added: Dec 10, 2024
Changed: Sep 17
Last Checked: Sep 16 at 8:50PM
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.
Introducing a newly developed office park in South Lubbock, featuring a newly constructed office building with approximately 2,232 square feet of modern, flexible workspace. The suite includes seven private offices, a workroom/copy room, a breakroom, and two restrooms, designed to support day-to-day professional operations.
Access is supported by front and back door parking for convenient entry to the building. The office park is located at 13916–14102 Indiana Ave in Lubbock, Texas, and the estimated completion is Summer of 2025.
This offering is currently planned as a new construction office park, with the space configuration centered on private offices and supporting rooms for shared and administrative functions.
Access is supported by front and back door parking for convenient entry to the building. The office park is located at 13916–14102 Indiana Ave in Lubbock, Texas, and the estimated completion is Summer of 2025.
This offering is currently planned as a new construction office park, with the space configuration centered on private offices and supporting rooms for shared and administrative functions.
Key Highlights
- Newly developed office building in South Lubbock with 2,232 SF of flexible office space
- Features 7 private offices for individual work or team collaboration
- Includes a workroom/copy room, breakroom, and two restrooms
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
$29,178
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
4.59%
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%
$583,560
$583.6K
Cap Rate 7%
$416,829
$416.8K
Cap Rate 9%
$324,200
$324.2K
Market Conditions
NOI Build-Up for 2,232 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
$46.9K $21.00/SF
− Vacancy
−$8.0K −$3.57/SF
EGI
$38.9K $17.43/SF
− OpEx
−$9.7K −$4.36/SF
NOI
$29.2K $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%
$583,560
Cap Rate 7%
$416,829
Cap Rate 9%
$324,200
Alternative Uses
Best Use
Office B
$416.8K
$364.7K – $486.3K
NOI $29,178 @ 7.0% cap · market cap 4.59%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$562.7K
$492.4K – $656.5K
NOI $39,389 @ 7.0% cap · market cap 6.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
30
Businesses Nearby
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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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Cap Rate, Value Estimation, Potential NOI and more
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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 building - Newly developed office building with 7 private offices, breakroom, and workroom/copy room plus front and back door parking.
Where is this office building located?
The property is located at 13916-14102 Indiana Ave Lubbock, TX.
What is the asking price?
The asking price for this property is $636,120.
What are key features of this property?
This property features: Newly developed office building in South Lubbock with 2,232 SF of flexible office space; Features 7 private offices for individual work or team collaboration; Includes a workroom/copy room, breakroom, and two restrooms
