Single-Story Office
2709 81st St, Lubbock, TX 79423
For Sale
$900,000
Partially leased office property with multiple offices, reception space, and on-site parking.
Property Size5,074 SF
Price / SF$177.37
Days on Market97
Property Features for 2709 81st St
General Information
Standard status
Size
Property subtype
Zoning
Building Details
Building Size
Year Built
Buildings
Stories
Listing Agency:
Coldwell Banker Commercial Capital Advisors
Listed By:
Alex Eberhardt
(806) 793-0888
Source:
Cbcworldwide
Added: Aug 8
Changed: Nov 11
Last Checked: Nov 12 at 4:13AM
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 Coldwell Banker Commercial Capital Advisors
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Investment Insights
Based on property information with market context.
This 5,074-square-foot, single-story office building was constructed in 1998 and includes multiple private offices, a reception area, and on-site parking. A metal roof and established landscaping with mature trees and shrubs are part of the property’s physical improvements.
Located at 2709 81st St in Lubbock, the building has one occupied suite under a triple-net lease extending through October 2027. The remaining space provides an existing office configuration for an owner-user, while the occupied suite contributes ongoing rental income.
Located at 2709 81st St in Lubbock, the building has one occupied suite under a triple-net lease extending through October 2027. The remaining space provides an existing office configuration for an owner-user, while the occupied suite contributes ongoing rental income.
Key Highlights
- 5,074 SF single‑story office building constructed in 1998
- Multiple offices, reception area, and on‑site parking
- One occupied suite leased on a triple‑net basis through October 2027
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$66,330
Cap Rate
7.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,326,600
$1.3M
Cap Rate 7%
$947,571
$947.6K
Cap Rate 9%
$737,000
$737.0K
Market Conditions
NOI Build-Up for 5,074 SF
Gross rent
$106.6K $21.00/SF
− Vacancy
−$18.1K −$3.57/SF
EGI
$88.4K $17.43/SF
− OpEx
−$22.1K −$4.36/SF
NOI
$66.3K $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%
$1,326,600
Cap Rate 7%
$947,571
Cap Rate 9%
$737,000
Alternative Uses
Best Use
Office B
$947.6K
$829.1K – $1.11M
NOI $66,330 @ 7.0% cap · market cap 7.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.28M
$1.12M – $1.49M
NOI $89,542 @ 7.0% cap · market cap 9.95%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,244
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
$222,500
Median Home Value
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Market
Average Price Trend$/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 - Partially leased office property with multiple offices, reception space, and on-site parking.
Where is this office building located?
The property is located at 2709 81st St Lubbock, TX.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: 5,074 SF single‑story office building constructed in 1998; Multiple offices, reception area, and on‑site parking; One occupied suite leased on a triple‑net basis through October 2027
