Office Unit with Private
New
For Sale
$1,107,800
13912 Indiana Ave, Lubbock, TX 79424
Includes a conference room, break room, copy room, and substantial storage.
Property Size3,887 SF
Days on Market2
Property Features for 13912 Indiana Ave
General Information
Standard status
Active
Size
3,887 SF
Class
A
Property subtype
Office
Building Details
Building Size
3,887 SF
Year Built
2023
Listing Agency:
WestMark Commercial | TCN Worldwide
Listed By:
Karen Higgins, CCIM · License #TX #0331521-B
(806) 776-2833
Source:
Westmarkcommercial
Added: Sep 18
Last Checked: Sep 19 at 6:14AM
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.
Built in 2023, this 3,887-square-foot office unit offers a practical configuration for professional operations, with tall ceilings and an efficient interior plan. The layout includes 10 private offices, a conference room, break room, copy room, and ample storage.
The property fronts Indiana Avenue near Kelsey Park in South Lubbock. Its office-oriented improvements and dedicated support areas provide a functional setting for a range of business operations.
The property fronts Indiana Avenue near Kelsey Park in South Lubbock. Its office-oriented improvements and dedicated support areas provide a functional setting for a range of business operations.
Key Highlights
- 3,887 SF office unit built in 2023
- 10 private offices plus a conference room
- Tall ceilings and efficient interior layout
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
$50,813
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%
$1,016,260
$1.0M
Cap Rate 7%
$725,900
$725.9K
Cap Rate 9%
$564,589
$564.6K
Market Conditions
NOI Build-Up for 3,887 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
$81.6K $21.00/SF
− Vacancy
−$13.9K −$3.57/SF
EGI
$67.8K $17.43/SF
− OpEx
−$16.9K −$4.36/SF
NOI
$50.8K $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%
$1,016,260
Cap Rate 7%
$725,900
Cap Rate 9%
$564,589
Alternative Uses
Best Use
Office B
$725.9K
$635.2K – $846.9K
NOI $50,813 @ 7.0% cap · market cap 4.59%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$979.9K
$857.4K – $1.14M
NOI $68,595 @ 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
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
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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 units - Includes a conference room, break room, copy room, and substantial storage.
Where is this office units located?
The property is located at 13912 Indiana Ave Lubbock, TX.
What is the asking price?
The asking price for this property is $1,107,800.
What are key features of this property?
This property features: 3,887 SF office unit built in 2023; 10 private offices plus a conference room; Tall ceilings and efficient interior layout
