Leased Custom Office
For Sale
Contact for pricing
Pending
7710 Milwaukee Ave, Lubbock, TX 79424
Fully leased NNN office space with 10 private offices, reception, conference room, workrooms, and break room.
Property Size4,049 SF
Days on Market826
Property Features for 7710 Milwaukee Ave
General Information
Standard status
Pending
Size
4,049 SF
Property subtype
OFFICE
Occupancy
100%
Financials
Cap Rate
7.27%
Business Included
No
Listing Agency:
WestMark Commercial | TCN Worldwide
(806) 781-3875
Listed By:
Karen Higgins, CCIM · License ##0331521-B
(806) 781-3875
Source:
Moodyscre
Added: May 1, 2024
Changed: Jul 28
Last Checked: Aug 3 at 10:48AM
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.
This fully leased, custom office space is offered as an NNN property and is configured with 10 private offices plus a spacious reception area. The interior also includes a conference room, two workrooms, two restrooms, and a break room.
The property is located in a professional office park, just west of Milwaukee Avenue.
Per the provided terms, the current lease has a 5-year structure with 2+ years remaining, includes rent escalation in 2025, and the deal is presented with a stated 7.27 cap rate.
The property is located in a professional office park, just west of Milwaukee Avenue.
Per the provided terms, the current lease has a 5-year structure with 2+ years remaining, includes rent escalation in 2025, and the deal is presented with a stated 7.27 cap rate.
Key Highlights
- Fully leased custom office space with a 5‑year lease and 2+ years remaining
- NNN lease with rent escalation in 2025
- 7.27 cap rate
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 | $85.0k | $21.00 |
| − Vacancy | −$14.5k | −$3.57 |
| EGI | $70.6k | $17.43 |
| − OpEx | −$17.6k | −$4.36 |
| NOI | $52.9k | $13.07 |
4,049 SF · lease $21.00/SF/yr · vacancy 17.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$756.2K
$661.6K – $882.2K
NOI $52,931 @ 7.0% cap · market cap 4.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.02M
$893.2K – $1.19M
NOI $71,454 @ 7.0% cap · market cap 6.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
211
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 units - Fully leased NNN office space with 10 private offices, reception, conference room, workrooms, and break room.
Where is this office units located?
The property is located at 7710 Milwaukee Ave Lubbock, TX.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Fully leased custom office space with a 5‑year lease and 2+ years remaining; NNN lease with rent escalation in 2025; 7.27 cap rate
