New Office Building in
13918 Indiana Ave, Lubbock, TX 79423
For Sale
Contact for pricing
Class A office building under construction, completion estimated Summer 2025.
Property Size2,262 SF
Price / SF$285
Days on Market703
Property Features for 13918 Indiana Ave
General Information
Standard status
Size
Class
Property subtype
Zoning
Building Details
Year Built
Buildings
Stories
Listing Agency:
WestMark Commercial
Listed By:
Kelsey Zickefoose · License TX #0724914
(806) 696-3863
Source:
Crexi
Added: Dec 10, 2024
Changed: Nov 3
Last Checked: Nov 12 at 8:17AM
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
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
An office building is currently under construction in a newly developed office park in South Lubbock. This Class A office space, being built by Clearview, is anticipated to be ready for occupancy in the Summer of 2025. The layout includes 7 private offices, a centrally located workroom, 2 restrooms, and a break room. The 2,262 square foot office is designed to facilitate an efficient workflow for various types of businesses.
Key Highlights
- New Class A office building.
- Located in a newly developed office park in South Lubbock.
- Completion estimated for Summer 2025.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,570
Cap Rate
4.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$591,400
$591.4K
Cap Rate 7%
$422,429
$422.4K
Cap Rate 9%
$328,556
$328.6K
Market Conditions
NOI Build-Up for 2,262 SF
Gross rent
$47.5K $21.00/SF
− Vacancy
−$8.1K −$3.57/SF
EGI
$39.4K $17.43/SF
− OpEx
−$9.9K −$4.36/SF
NOI
$29.6K $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%
$591,400
Cap Rate 7%
$422,429
Cap Rate 9%
$328,556
Alternative Uses
Best Use
Office B
$422.4K
$369.6K – $492.8K
NOI $29,570 @ 7.0% cap · market cap 4.59%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$570.3K
$499.0K – $665.3K
NOI $39,918 @ 7.0% cap · market cap 6.19%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
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
$222,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Office buildings in Lubbock, TX
Properties on Market for Office buildings in Lubbock
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - Class A office building under construction, completion estimated Summer 2025.
Where is this office building located?
The property is located at 13918 Indiana Ave Lubbock, TX.
What is the asking price?
The asking price for this property is $644,670.
What are key features of this property?
This property features: New Class A office building.; Located in a newly developed office park in South Lubbock.; Completion estimated for Summer 2025.
