Single-Story Medical
For Sale
$480,000
3508 22nd Place, Lubbock, TX 79410
Commercial Sale, Lubbock, TX
Property Size2,135 SF
Lot Size0.22 Acres
Price / SF$224.82
Days on Market260
Property Features for 3508 22nd Place
General Information
Property type
Commercial Sale
Property subtype
Office
Elementary school district
Lubbock ISD
Middle school district
Lubbock ISD
High school district
Lubbock ISD
Subdivision
3
Standard status
Active
APN
R25899
Size
2,135 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Description
Ridgelawn Blk 2 L 15 &E4'of 14
Tax Annual Amount
4327
Legal Description
Ridgelawn Blk 2 L 15 &E4'of 14
Amenities
fireplace
kitchenette/break room
covered parking
Building Details
Year built
1984
Listing Agency:
Keller Williams Realty
(806) 771-7710
Listed By:
Stacey Rogers · License #0588927
(806) 368-1066
Added: Jan 22
Changed: Sep 30
Last Checked: Oct 9 at 7:06AM
MLS# 202601095
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 2,135-square-foot medical office property occupies a single-story building constructed in 1984. The interior includes a reception and waiting area with natural light, updated flooring, and a fireplace, along with six offices, a large nurses’ station, kitchenette, break room, and storage closet. Recent updates and neutral finishes contribute to a clean, adaptable presentation for medical, therapy, or professional office use.
Located at 3508 22nd Place in Lubbock, the property provides covered private parking at the rear and convenient access for patients. Its position just off 22nd Place supports straightforward arrival while maintaining a professional office environment.
Located at 3508 22nd Place in Lubbock, the property provides covered private parking at the rear and convenient access for patients. Its position just off 22nd Place supports straightforward arrival while maintaining a professional office environment.
Key Highlights
- 2,135‑square‑foot single‑story medical office building
- Six offices plus a large nurses’ station
- Reception and waiting area with natural light, updated flooring, and fireplace
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,676
Cap Rate
5.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$573,520
$573.5K
Cap Rate 7%
$409,657
$409.7K
Cap Rate 9%
$318,622
$318.6K
Market Conditions
NOI Build-Up for 2,135 SF
Gross rent
$52.5K $24.60/SF
− Vacancy
−$4.7K −$2.21/SF
EGI
$47.8K $22.39/SF
− OpEx
−$19.1K −$8.95/SF
NOI
$28.7K $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%
$573,520
Cap Rate 7%
$409,657
Cap Rate 9%
$318,622
Alternative Uses
Best Use
Healthcare Medical
$409.7K
$358.5K – $477.9K
NOI $28,676 @ 7.0% cap · market cap 5.97%
Second Best
Office B
$398.7K
$348.9K – $465.2K
NOI $27,910 @ 7.0% cap · market cap 5.81%
Theoretical Best
Office A
$538.2K
$471.0K – $628.0K
NOI $37,677 @ 7.0% cap · market cap 7.85%
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
1,461
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 79410, TX
8,615
Population
4,736
Households
1.8
Avg Household Size
29
Median Age
47%
College-Educated
91%
High-School Grad
2.4 sq mi
ZIP Area
3,590
Density / Sq Mi
$48,350
Median Household Income
$29,637
Median Earnings
$1,315
Median Rent
$211,300
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
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Updated professional office setting with reception, private parking, and a flexible healthcare-oriented layout.
Where is this medical office space located?
The property is located at 3508 22nd Place Lubbock, TX.
What is the asking price?
The asking price for this property is $480,000.
What are key features of this property?
This property features: 2,135‑square‑foot single‑story medical office building; Six offices plus a large nurses’ station; Reception and waiting area with natural light, updated flooring, and fireplace
