Modern Office Building with Private
For Sale
$1,150,000
3214 140th Street, Lubbock, TX 79423
Commercial Sale, Lubbock, TX
Property Size4,043 SF
Lot Size0.42 Acres
Price / SF$284.44
Days on Market261
Property Features for 3214 140th Street
General Information
Property type
Commercial Sale
Property subtype
Office
Subdivision
11
Standard status
Active
APN
R332884
Size
4,043 SF
Lot size
0.42 Acres
Taxes and HOA fees
Tax Description
Viridian Estates Tr G
Tax Annual Amount
9362
Legal Description
Viridian Estates Tr G
Building Details
Year built
2023
Listing Agency:
Reside Real Estate Co.
(806) 646-6423
Listed By:
Lauren Egert · License #0776312
(214) 287-9631
Added: Jan 20
Changed: Oct 2
Last Checked: Oct 8 at 6:06AM
MLS# 202600906
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.
This 4,043-square-foot office building was completed in 2023 and arranged for efficient day-to-day operations. The interior includes 13 private offices, a large conference room, reception and front-desk areas, two restrooms, and a kitchenette. The layout is identified as suitable for medical, professional, and service-based businesses, with flexibility for a multi-tenant configuration.
The property is located at 3214 140th Street, just off 140th and Indiana in Lubbock. Access to Loop 88 is minutes away, while the surrounding area includes new residential development, Lubbock-Cooper ISD, and municipal services. The site encompasses 0.42 acres and includes ample parking.
The property is located at 3214 140th Street, just off 140th and Indiana in Lubbock. Access to Loop 88 is minutes away, while the surrounding area includes new residential development, Lubbock-Cooper ISD, and municipal services. The site encompasses 0.42 acres and includes ample parking.
Key Highlights
- 4,043 SF office building on 0.42 acres
- 13 private offices plus a large conference room
- Reception area with front desk, kitchenette, and 2 restrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$52,852
Cap Rate
4.60%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,057,040
$1.1M
Cap Rate 7%
$755,029
$755.0K
Cap Rate 9%
$587,244
$587.2K
Market Conditions
NOI Build-Up for 4,043 SF
Gross rent
$84.9K $21.00/SF
− Vacancy
−$14.4K −$3.57/SF
EGI
$70.5K $17.43/SF
− OpEx
−$17.6K −$4.36/SF
NOI
$52.9K $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%
$1,057,040
Cap Rate 7%
$755,029
Cap Rate 9%
$587,244
Alternative Uses
Best Use
Office B
$755.0K
$660.7K – $880.9K
NOI $52,852 @ 7.0% cap · market cap 4.60%
Second Best
—
—
no second resolved use
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.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
44
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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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - Built in 2023 with a reception area, conference room, kitchenette, and two restrooms.
Where is this office building located?
The property is located at 3214 140th Street 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: 4,043 SF office building on 0.42 acres; 13 private offices plus a large conference room; Reception area with front desk, kitchenette, and 2 restrooms
