Smart Brick Medical Office
For Sale
Contact for pricing
3204 140th St, Lubbock, TX 79423
New construction office building on a large corner lot with fenced covered patio and extensive secure, fire-rated interior offices.
Property Size3,869 SF
Price / SF$285.09
Days on Market529
Property Features for 3204 140th St
General Information
Standard status
Active
Size
3,869 SF
Total Parking Spaces
25
Property subtype
OFFICE
Additional Details
Highway Access
Yes
Amenities
reception
conference room
lobby
ADA restrooms
break area with kitchenette
IT storage closet
Nest thermostats
Cat 6 cabling
covered back patio
Building Details
Construction
brick farmhouse style
Listing Agency:
Murphy & Martin Real Estate
Listed By:
Murphy Coon TACS
(806) 891-3195
Source:
Moodyscre
Added: May 22, 2025
Changed: Oct 25
Last Checked: Nov 1 at 9:08AM
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 Murphy & Martin Real Estate
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Investment Insights
Based on property information with market context.
Brand new construction smart brick office designed for professional and medical-oriented use. The building includes a reception area, lobby with upper wall TV-ready plug-in points, 11 lockable executive offices, and one large conference room. Interior improvements also feature two ADA restrooms, a break area with kitchenette, a lockable IT storage closet, Nest thermostats, Cat 6 cabling, granite countertops, and black, white, and natural wood finishes. Solid core, private-lock fire-rated doors are provided throughout, and the north-facing fenced covered back patio supports office overflow or client-friendly outdoor space.
The property sits on a large corner lot at 3204 140th St. Public remarks note nearby Lubbock Copper ISD administration offices and the Lubbock Police South Station, with the Outer Loop 88 located just to the north.
Additional office configuration includes 2X6 plumbed walls around eight offices plus the multi-use conference room, which may support water needs upon request. On-site parking includes 25 spaces for employees and clients.
The property sits on a large corner lot at 3204 140th St. Public remarks note nearby Lubbock Copper ISD administration offices and the Lubbock Police South Station, with the Outer Loop 88 located just to the north.
Additional office configuration includes 2X6 plumbed walls around eight offices plus the multi-use conference room, which may support water needs upon request. On-site parking includes 25 spaces for employees and clients.
Key Highlights
- Smart garden office on a large corner lot at Indiana and 140th Street
- Farmhouse‑style smart brick office with reception, lobby TV‑ready upper wall plugs, and a north‑facing fenced covered back patio
- 11 lockable executive offices plus 1 large conference room and additional multi‑use conference space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$51,967
Cap Rate
4.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,039,340
$1.0M
Cap Rate 7%
$742,386
$742.4K
Cap Rate 9%
$577,411
$577.4K
Market Conditions
NOI Build-Up for 3,869 SF
Gross rent
$95.2K $24.60/SF
− Vacancy
−$8.6K −$2.21/SF
EGI
$86.6K $22.39/SF
− OpEx
−$34.6K −$8.95/SF
NOI
$52.0K $13.43/SF
Area
Lubbock, TX
Vacancy
9.00%
Lease Rate
$24.60 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,039,340
Cap Rate 7%
$742,386
Cap Rate 9%
$577,411
Alternative Uses
Best Use
Healthcare Medical
$742.4K
$649.6K – $866.1K
NOI $51,967 @ 7.0% cap · market cap 4.71%
Second Best
Office B
$722.5K
$632.2K – $843.0K
NOI $50,578 @ 7.0% cap · market cap 4.59%
Theoretical Best
Office A
$975.4K
$853.5K – $1.14M
NOI $68,277 @ 7.0% cap · market cap 6.19%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
80
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
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - New construction office building on a large corner lot with fenced covered patio and extensive secure, fire-rated interior offices.
Where is this office building located?
The property is located at 3204 140th St Lubbock, TX.
What is the asking price?
The asking price for this property is $1,103,000.
What are key features of this property?
This property features: Smart garden office on a large corner lot at Indiana and 140th Street; Farmhouse‑style smart brick office with reception, lobby TV‑ready upper wall plugs, and a north‑facing fenced covered back patio; 11 lockable executive offices plus 1 large conference room and additional multi‑use conference space
