Lubbock Office Duplex For
3402 110th St, Lubbock, TX 79423
For Sale
Contact for pricing
Pending
Well-designed office duplex, ideal for owner-user or investment.
Property Size4,097 SF
Lot Size0.45 Acres
Days on Market983
Property Features for 3402 110th St
General Information
Standard status
Size
Class
Lot size
Property subtype
Occupancy
Lease Type
Building Details
Year Built
Stories
Listing Agency:
eXp Realty
Listed By:
Hacee Hughes · License TX #0643931
(806) 319-0670
Source:
Crexi
Added: Mar 6, 2024
Changed: Nov 10
Last Checked: Nov 12 at 8:19AM
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 eXp Realty
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Investment Insights
Based on property information with market context.
This well-designed office duplex presents a prime opportunity for owner-occupants, investors, or a combination of both. Built in 2013, the property offers immediate income and future flexibility. The total building size is 4,097 square feet on a 19,430 square foot lot. The south suite, comprising 2,259 square feet, is currently available for lease and is ideal for an owner-user or new tenant. It features an inviting reception area, a dedicated file/copy room, six private offices, a spacious break room, two ADA-compliant restrooms, and access to a shared outdoor patio. Two HVAC units ensure comfort and efficiency. The north suite, currently leased, provides an income-producing opportunity with 1,838 square feet. It includes a reception area, five private offices, two large executive offices suitable as conference rooms, a kitchenette, and one ADA-compliant restroom. The property benefits from on-site well and septic, offering utility savings. Generous front and rear parking is available, along with attic storage with blown insulation and a secure locking mailbox.
Key Highlights
- Prime opportunity for owner‑user or investor, occupy one suite and lease the other for income.
- Building offers 4,097 SF built in 2013 on a 19,430 SF lot.
- South suite with 2,259 SF available for lease, featuring 6 private offices, reception, break room, and shared patio.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$53,558
Cap Rate
5.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,071,160
$1.1M
Cap Rate 7%
$765,114
$765.1K
Cap Rate 9%
$595,089
$595.1K
Market Conditions
NOI Build-Up for 4,097 SF
Gross rent
$86.0K $21.00/SF
− Vacancy
−$14.6K −$3.57/SF
EGI
$71.4K $17.43/SF
− OpEx
−$17.9K −$4.36/SF
NOI
$53.6K $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%
$1,071,160
Cap Rate 7%
$765,114
Cap Rate 9%
$595,089
Alternative Uses
Best Use
Office B
$765.1K
$669.5K – $892.6K
NOI $53,558 @ 7.0% cap · market cap 5.36%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.03M
$903.8K – $1.21M
NOI $72,301 @ 7.0% cap · market cap 7.23%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
152
Businesses Nearby
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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
$222,500
Median Home Value
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Market
Average Price Trend$/SF for Office buildings in Lubbock, TX
Properties on Market for Office buildings in Lubbock
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - Well-designed office duplex, ideal for owner-user or investment.
Where is this office building located?
The property is located at 3402 110th St 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 opportunity for owner‑user or investor, occupy one suite and lease the other for income.; Building offers 4,097 SF built in 2013 on a 19,430 SF lot.; South suite with 2,259 SF available for lease, featuring 6 private offices, reception, break room, and shared patio.
