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    Medical Office Space For Sale Title is generated by Realmo AI

    4002 22nd St, Lubbock, TX 79410

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    Located in the heart of the medical district.

    Type:Office
    Property size:
    2,587 SF
    Price / SF:
    $164/SF
    Added:
    Apr 8, 2024
    Days on Market:
    805
    Last Refresh:
    May 13 at 8:22 pm

    Property Features for 4002 22nd St

    General Information

    Standard status
    Active
    Size
    2,587 SF
    Property subtype
    Office

    Building Details

    Year Built
    1972

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    Listing Contact
    Kelsey Zickefoose
    Kelsey Zickefoose

    Listing agent Kelsey Zickefoose License #TX 0724914

    Listing office WestMark Commercial

    Listing date Apr 8, 2024

    Source Crexi

    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 WestMark Commercial

    HighLights

    • Prime location in the heart of the medical district.
    • Unparalleled visibility.
    • Accessibility for patients and practitioners.
    • Functional layout.
    • Designed for practicality and workflow optimization.
    • Enables seamless operations for medical professionals.

    Overview

    Located in the heart of the medical district, this property offers visibility and accessibility. The functional layout was designed with a focus on practicality and workflow optimization, enabling seamless operations for medical professionals. The property is suitable for medical office space, general office use, and other commercial real estate purposes. The property has a size of 2587 square feet.

    Local Financial Insights For Healthcare Medical

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $63.6k $24.60
    − Vacancy −$5.7k −$2.21
    EGI $57.9k $22.39
    − OpEx −$23.2k −$8.95
    NOI $34.7k $13.43
    2,587 SF · lease $24.60/SF/yr · vacancy 9.00% · expense 40.00%

    Alternative Uses

    Best Use
    Healthcare Medical
    $496.4K
    $434.4K – $579.1K (±1% cap)
    NOI $34,748 @ 7.0% cap · market cap 8.18%
    Second Best
    Office B
    $483.1K
    $422.7K – $563.7K (±1% cap)
    NOI $33,819 @ 7.0% cap · market cap 7.96%
    Theoretical Best
    Office A
    $652.2K
    $570.7K – $760.9K (±1% cap)
    NOI $45,653 @ 7.0% cap · market cap 10.74%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Dr. Suzelle Moffitt Pediatrician

    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.

    Similar Places Nearby

    • P.E.T.S. Clinic of Lubbock — 2207 34th St, Lubbock, TX 79411

    Location Insight

    • Map
    • Local Demand
    City
    Lubbock
    County
    Lubbock
    State
    Texas
    Longitude
    -101.898836
    Latitude
    33.575322

    FAQs

    What type of property is this?
    Medical Office Space - Located in the heart of the medical district.
    Where is this medical office space located?
    The property is located at 4002 22nd St Lubbock, TX.
    What is the asking price?
    The asking price for this property is $425,000.
    What are key features of this property?
    This property features: Prime location in the heart of the medical district.; Unparalleled visibility.; Accessibility for patients and practitioners.
    (806) 777-8114 Call to check price and availability
    More about this property
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