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    Lubbock Office Duplex For Sale Title is generated by Realmo AI

    3402 110th Street, Lubbock, TX 79423

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    For Sale
    $999,500

    COMMERCIAL - Lubbock, TX

    Type:Office
    Property size:
    8,194 SF
    Lot size:
    0.45 Acres
    Price / SF:
    $121/SF
    Added:
    Mar 5, 2024
    Days on Market:
    807
    Last Refresh:
    May 21 at 9:06 pm

    Property Features for 3402 110th Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Office
    Standard status
    Active
    APN
    R83423
    Size
    8,194 SF
    Lot size
    0.45 Acres

    Taxes and HOA fees

    Tax Description
    LAKEVIEW HTS L 88 & 89
    Tax Annual Amount
    13783

    Building Details

    Year built
    2013
    Building materials
    Brick
    Roof type
    Composition

    We can help!

    Listing Contact
    Hacee Hughes
    Hacee Hughes

    Listing agent Hacee Hughes License #0643931

    Listing office eXp Realty LLC 5605 N MacArthur Blvd 10th Flr, Austin, TX

    Listing date Mar 5, 2024

    MLS# 202403194

    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.

    HighLights

    • Prime owner‑user or investment opportunity with flexible use options.
    • Two suites: South Suite (2,259 SF, available for lease) and North Suite (1,838 SF, currently leased and income‑producing).
    • Total building size of 4,097 SF on a 19,430 SF lot, built in 2013.
    • South Suite features 6 private offices, reception area, file/copy room, break room, and two ADA restrooms.
    • On‑site well and septic system for utility savings.
    • Ample front and rear parking and secure locking mailbox.

    Overview

    This office duplex presents an opportunity for an owner-occupant, investor, or a hybrid approach. The property, built in 2013, has a total building size of 4,097 square feet and sits on a 19,430 square foot lot (0.45 acres). The South Suite, with 2,259 square feet, is available for lease and includes a reception area, a file/copy room, six private offices, a break room, and two ADA-compliant restrooms. It also features two HVAC units and access to a shared outdoor patio. The North Suite, currently leased and income-producing, consists of 1,838 square feet and includes a reception area, five private offices, two large executive offices that can function as conference rooms, a kitchenette, and one ADA-compliant restroom. The property also features an on-site well and septic system, ample front and rear parking, attic storage with blown insulation, and a secure locking mailbox.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Tim Futrell Loan Service Hometrust Mortgage Company Loan Service Gerald W. Hudson ... Accounting Firm Becky Hudson Financial ... Tax Preparation

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lubbock
    County
    Lubbock
    State
    Texas
    Longitude
    -101.8879782
    Latitude
    33.4946566

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    FAQs

    What type of property is this?
    Office building - Office duplex ideal for owner-user or investment with income potential.
    Where is this office building located?
    The property is located at 3402 110th Street Lubbock, TX.
    What is the asking price?
    The asking price for this property is $999,500.
    What are key features of this property?
    This property features: Prime owner‑user or investment opportunity with flexible use options.; Two suites: South Suite (2,259 SF, available for lease) and North Suite (1,838 SF, currently leased and income‑producing).; Total building size of 4,097 SF on a 19,430 SF lot, built in 2013.
    (806) 319-0670
    We can help!
    Listing Contact
    Hacee Hughes
    Hacee Hughes
    Real Estate License ID: 0643931
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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