Lubbock Office Building for
For Sale
Contact for pricing
3805 146th St, Lubbock, TX 79423
High-end, meticulously designed 7,761 sq ft office building on 1-acre lot.
Property Size7,761 SF
Lot Size1.00 Acre
Price / SF$334.36
Days on Market182
Property Features for 3805 146th St
General Information
Standard status
Active
Size
7,761 SF
Lot size
1.00 Acre
Property subtype
Office
Zoning
NC
Building Details
Year Built
2023
Buildings
1
Stories
2
Listing Agency:
Coldwell Banker Commercial Capital Advisors
(806) 784-3216
Listed By:
Jef Conn · License #TX
Source:
Crexi
Added: Feb 23
Changed: Aug 18
Last Checked: Aug 23 at 12:25PM
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 Coldwell Banker Commercial Capital Advisors
Investment Insights
Based on property information with market context.
This 7,761 sq ft office building in Lubbock presents a rare opportunity for purchase. The property, designed by HOME by Lyons, features elevated finishes, wall coverings, and a functional layout. The office includes multiple conference rooms, private offices, and clusters of private workspaces, accommodating over 25 employees in its current configuration. Situated on a 1-acre lot, the property offers the potential to add approximately 4,000 sq ft of additional office space at the back, suitable for expansion or leasing for additional income. The current owner is relocating to a new office. The property is intended for use as an office building.
Key Highlights
- Meticulously designed 7,761 sq ft office space with elevated finishes and custom home‑like amenities.
- Large 1‑acre lot with potential to add approximately 4,000 sq ft of additional office space or lease it out for extra income.
- Functional layout with multiple conference rooms, private offices, and clustered workspaces to accommodate 25+ employees.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$101,456
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.91%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,029,120
$2.0M
Cap Rate 7%
$1,449,371
$1.4M
Cap Rate 9%
$1,127,289
$1.1M
Market Conditions
NOI Build-Up for 7,761 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$163.0K $21.00/SF
− Vacancy
−$27.7K −$3.57/SF
EGI
$135.3K $17.43/SF
− OpEx
−$33.8K −$4.36/SF
NOI
$101.5K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,029,120
Cap Rate 7%
$1,449,371
Cap Rate 9%
$1,127,289
Alternative Uses
Best Use
Office B
$1.45M
$1.27M – $1.69M
NOI $101,456 @ 7.0% cap · market cap 3.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.96M
$1.71M – $2.28M
NOI $136,960 @ 7.0% cap · market cap 5.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
33
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
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 - High-end, meticulously designed 7,761 sq ft office building on 1-acre lot.
Where is this office building located?
The property is located at 3805 146th St Lubbock, TX.
What is the asking price?
The asking price for this property is $2,595,000.
What are key features of this property?
This property features: Meticulously designed 7,761 sq ft office space with elevated finishes and custom home‑like amenities.; Large 1‑acre lot with potential to add approximately 4,000 sq ft of additional office space or lease it out for extra income.; Functional layout with multiple conference rooms, private offices, and clustered workspaces to accommodate 25+ employees.
