Updated Office Condo
2811 74th Street Unit B Lubbock, TX 79423
For Sale
$200,000
Office condo with reception area, multiple private offices, two bathrooms, and kitchenette, offering an efficient professional layout.
Property Size1,325 SF
Price / SF$150.94
Days on Market480
Property Features for 2811 74th Street Unit B
General Information
- Standard status
- Active
- Size
- 1,325 SF
- Property subtype
- Commercial/Industrial
Building Details
- Year Built
- 1983
Listing Agency:
Steadfast Realty, LLC
(806) 786-4407
Listed By:
Jim Archer · License #0693553
(806) 786-4407
Source:
Exitrealty
Added: Apr 1, 2025
Changed: Jul 20
Last Checked: Jul 24 at 5:42AM
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 Steadfast Realty, LLC
Investment Insights
Based on property information with market context.
This updated office condo suite is laid out for professional use and includes a reception area, four 8' x 8' private offices, and two 11' x 14' executive suites/conference rooms. The unit also features two private bathrooms and a kitchenette, providing practical in-suite convenience for daily operations.
The property is located on 74th Street in Lubbock, with access right off South Loop 289 for convenient travel to other parts of the city and I-27.
As an office condo, the space is designed to support a focused, self-contained work environment with dedicated rooms for meetings and private work.
The property is located on 74th Street in Lubbock, with access right off South Loop 289 for convenient travel to other parts of the city and I-27.
As an office condo, the space is designed to support a focused, self-contained work environment with dedicated rooms for meetings and private work.
Key Highlights
- Updated professional office condo, built in 1983
- Reception area plus four 8' x 8' private offices
- Two 11' x 14' executive suites/conference rooms
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 | $27.8k | $21.00 |
| − Vacancy | −$4.7k | −$3.57 |
| EGI | $23.1k | $17.43 |
| − OpEx | −$5.8k | −$4.36 |
| NOI | $17.3k | $13.07 |
1,325 SF · lease $21.00/SF/yr · vacancy 17.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$247.4K
$216.5K – $288.7K
NOI $17,321 @ 7.0% cap · market cap 8.66%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$334.0K
$292.3K – $389.7K
NOI $23,383 @ 7.0% cap · market cap 11.69%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Pension Concepts & Administration ...
Insurance Agency
Brittain Company
Advertising Agency
Brittain Co
Department Store
FAQs
What type of property is this?
Office units - Office condo with reception area, multiple private offices, two bathrooms, and kitchenette, offering an efficient professional layout.
Where is this office units located?
The property is located at 2811 74th Street Unit B Lubbock, TX.
What is the asking price?
The asking price for this property is $200,000.
What are key features of this property?
This property features: Updated professional office condo, built in 1983; Reception area plus four 8' x 8' private offices; Two 11' x 14' executive suites/conference rooms
