Office Building with 13 Private
For Sale
$1,150,000
3214 140th St, Lubbock, TX 79423
Well-appointed office building includes reception, 13 private offices, large conference room, two restrooms, and kitchenette.
Property Size4,043 SF
Price / SF$284.44
Days on Market93
Property Features for 3214 140th St
General Information
Standard status
Active
Size
4,043 SF
Additional Details
Cap Rate
7.4%
Highway Access
Yes
Building Details
Year Built
2023
Listing Agency:
Reside Real Estate Co.
Listed By:
Lauren Egert · License #0776312
(214) 287-9631
Source:
Raftercrossrealty
Added: Jul 16
Changed: Oct 15
Last Checked: Oct 7 at 5:17PM
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 Reside Real Estate Co.
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Investment Insights
Based on property information with market context.
This well-appointed office building features an efficient, functional layout with 13 private offices, a large conference room, and a welcoming reception area with a front desk. The space also includes two restrooms and a kitchenette, supporting a variety of professional and service-based configurations, including multi-tenant use if desired.
Located at 3214 140th St in Lubbock, the property sits just off 140th & Indiana and is minutes from Loop 88. The surrounding area includes new residential development, Lubbock-Cooper ISD, and key municipal services. Ample parking and convenient access are included, enhancing day-to-day operations for employees and visitors.
Located at 3214 140th St in Lubbock, the property sits just off 140th & Indiana and is minutes from Loop 88. The surrounding area includes new residential development, Lubbock-Cooper ISD, and key municipal services. Ample parking and convenient access are included, enhancing day-to-day operations for employees and visitors.
Key Highlights
- Built in 2023 modern office building with a functional layout and low‑maintenance design
- Includes welcoming reception with front desk, 13 private offices, and a large conference room
- Two restrooms and a kitchenette provide full in‑suite functionality
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$54,304
Cap Rate
4.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,086,080
$1.1M
Cap Rate 7%
$775,771
$775.8K
Cap Rate 9%
$603,378
$603.4K
Market Conditions
NOI Build-Up for 4,043 SF
Gross rent
$99.5K $24.60/SF
− Vacancy
−$9.0K −$2.21/SF
EGI
$90.5K $22.39/SF
− OpEx
−$36.2K −$8.95/SF
NOI
$54.3K $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%
$1,086,080
Cap Rate 7%
$775,771
Cap Rate 9%
$603,378
Alternative Uses
Best Use
Healthcare Medical
$775.8K
$678.8K – $905.1K
NOI $54,304 @ 7.0% cap · market cap 4.72%
Second Best
Office B
$755.0K
$660.7K – $880.9K
NOI $52,852 @ 7.0% cap · market cap 4.60%
Theoretical Best
Office A
$1.02M
$891.9K – $1.19M
NOI $71,348 @ 7.0% cap · market cap 6.20%
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
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - Well-appointed office building includes reception, 13 private offices, large conference room, two restrooms, and kitchenette.
Where is this office building located?
The property is located at 3214 140th St Lubbock, TX.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Built in 2023 modern office building with a functional layout and low‑maintenance design; Includes welcoming reception with front desk, 13 private offices, and a large conference room; Two restrooms and a kitchenette provide full in‑suite functionality
