Smart Garden Office on Corner
For Sale
$1,103,000
3204 140th Street, Lubbock, TX 79423
COMMERCIAL - Lubbock, TX
Property Size3,869 SF
Lot Size0.54 Acres
Price / SF$285.09
Days on Market518
Property Features for 3204 140th Street
General Information
Property type
Commercial Sale
Property subtype
Office
Property condition
Under Construction
Zoning
GO
Parking
25
Parking features
Parking Lot
Fencing
Fenced
Lot features
Landscaped
Elementary school district
Lubbock-Cooper ISD
Middle school district
Lubbock-Cooper ISD
High school district
Lubbock-Cooper ISD
Subdivision
11
Standard status
Active
APN
R332887
Size
3,869 SF
Lot size
0.54 Acres
Taxes and HOA fees
Tax Annual Amount
1721
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Heating system
Natural Gas, Central
Cooling system
Central Air, Electric
Water source
Public
Amenities
reception
conference room
lobby
break area with kitchenette
IT storage closet
Nest thermostats
Cat 6 cables
granite countertops
fenced covered back patio
Building Details
Year built
2025
Flooring type
Vinyl, Plank
Building materials
Brick, Masonite
Roof type
Composition
Listing Agency:
Murphy & Martin Real Estate
(806) 891-3195
Listed By:
Murphy Coon · License #0669982
(806) 891-3195
Added: Mar 4, 2025
Changed: Aug 3
Last Checked: Aug 4 at 5:06AM
MLS# 202551224
Copyright © 2026 Lubbock Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Brand-new smart garden office building under construction on a large corner lot at Indiana and 140th Street. The property is designed for flexible professional uses, with a reception area, lobby, and a layout that includes 11 twenty-minute fire rated lockable executive offices, one large conference room, a break area with a kitchenette, and a lockable IT storage closet.
The interior is supported by Nest thermostats and Cat 6 cabling for fast internet. Finishes include black, white, and natural wood elements, granite countertops, and state of the art solid core twenty-minute fire rated doors with private locks. There are two ADA restrooms and upper-wall TV-ready plugs in the lobby area. A north-facing fenced covered back patio complements the office environment.
Construction materials include brick and Masonite with plank and vinyl flooring, a composition roof, and central heating and cooling with natural gas availability. The lot size is 0.54 acres and the property size is 3,869 square feet. Zoning is GO.
The interior is supported by Nest thermostats and Cat 6 cabling for fast internet. Finishes include black, white, and natural wood elements, granite countertops, and state of the art solid core twenty-minute fire rated doors with private locks. There are two ADA restrooms and upper-wall TV-ready plugs in the lobby area. A north-facing fenced covered back patio complements the office environment.
Construction materials include brick and Masonite with plank and vinyl flooring, a composition roof, and central heating and cooling with natural gas availability. The lot size is 0.54 acres and the property size is 3,869 square feet. Zoning is GO.
Key Highlights
- 0.54‑acre corner lot office building under construction
- 3,869 SF office building with reception, 11 executive offices, and conference room
- Two ADA restrooms plus break area with kitchenette and lockable IT storage closet
Financial Insights For Healthcare Medical
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 | $95.2k | $24.60 |
| − Vacancy | −$8.6k | −$2.21 |
| EGI | $86.6k | $22.39 |
| − OpEx | −$34.6k | −$8.95 |
| NOI | $52.0k | $13.43 |
3,869 SF · lease $24.60/SF/yr · vacancy 9.00% · expense 40.00%
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.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
36
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Brand-new office building under construction on a corner lot with reception, 11 offices, conference room, and ADA restrooms.
Where is this office building located?
The property is located at 3204 140th Street 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: 0.54‑acre corner lot office building under construction; 3,869 SF office building with reception, 11 executive offices, and conference room; Two ADA restrooms plus break area with kitchenette and lockable IT storage closet
