Office Investment Opportunity in
For Sale
Contact for pricing
3303 67th St, Lubbock, TX 79413
Two well-maintained office buildings with lease-up upside.
Property Size16,173 SF
Lot Size1.90 Acres
Price / SF$148.40
Days on Market224
Property Features for 3303 67th St
General Information
Standard status
Active
Size
16,173 SF
Lot size
1.90 Acres
Property subtype
Office
Zoning
Neighborhood Commercial (NC)
Occupancy
76%
Lease Type
Gross
Investment Type
Value Add
Building Details
Year Built
1973
Year Renovated
2016
Units
28
Tenancy
Multi
Listing Agency:
McDougal Realtors
Listed By:
Carrigan Williams · License #TX 773761
(806) 797-3162
Source:
Crexi
Added: Feb 26
Changed: Oct 2
Last Checked: Oct 7 at 10:47AM
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 McDougal Realtors
Investment Insights
Based on property information with market context.
Two office buildings located off South Loop 289 and Indiana Ave offer accessibility in a Lubbock commercial corridor. One building, located at 3303 67th St, has 7,199 square feet and is situated on 0.94 acres. It is currently 100% occupied, providing income. The second building, located at 3309 67th St, has 8,974 square feet and is situated on 0.96 acres. It is 54% occupied, offering lease-up upside. The properties share a parking lot. Both buildings were renovated in 2016 with updated flooring and paint. The total property size is 16,173 square feet. This is an opportunity for an investor seeking a stabilized asset with value-add potential through increased occupancy.
Key Highlights
- Two well‑maintained office buildings in a primary commercial corridor with strong accessibility.
- Immediate lease‑up upside with 3309 67th St at 54% occupancy.
- Stable in‑place income from 3303 67th St, which is 100% occupied.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$211,422
Cap Rate
8.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,228,440
$4.2M
Cap Rate 7%
$3,020,314
$3.0M
Cap Rate 9%
$2,349,133
$2.3M
Market Conditions
NOI Build-Up for 16,173 SF
Gross rent
$339.6K $21.00/SF
− Vacancy
−$57.7K −$3.57/SF
EGI
$281.9K $17.43/SF
− OpEx
−$70.5K −$4.36/SF
NOI
$211.4K $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%
$4,228,440
Cap Rate 7%
$3,020,314
Cap Rate 9%
$2,349,133
Alternative Uses
Best Use
Office B
$3.02M
$2.64M – $3.52M
NOI $211,422 @ 7.0% cap · market cap 8.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.08M
$3.57M – $4.76M
NOI $285,408 @ 7.0% cap · market cap 11.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,149
Businesses Nearby
Explore this area
Business Placement
Demographics for 79413, TX
20,962
Population
9,590
Households
2.2
Avg Household Size
35
Median Age
35%
College-Educated
91%
High-School Grad
4.7 sq mi
ZIP Area
4,460
Density / Sq Mi
$67,062
Median Household Income
$38,004
Median Earnings
$1,325
Median Rent
$195,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Two well-maintained office buildings with lease-up upside.
Where is this office building located?
The property is located at 3303 67th St Lubbock, TX.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: Two well‑maintained office buildings in a primary commercial corridor with strong accessibility.; Immediate lease‑up upside with 3309 67th St at 54% occupancy.; Stable in‑place income from 3303 67th St, which is 100% occupied.
