Medical Center Referral
For Sale
$2,500,000
4324 23rd St, Lubbock, TX 79410
Regional medical referral hub with large-scale healthcare space and clinic network serving over 1.2 million people.
Property Size6,521 SF
Days on Market139
Property Features for 4324 23rd St
General Information
Standard status
Active
Size
6,521 SF
Property subtype
Office
Zoning
HDR
Building Details
Building Size
6,521 SF
Year Built
1971
Listing Agency:
Coldwell Banker Commercial Capital Advisors
Listed By:
Alex Eberhardt
(806) 793-0888
Source:
Cbcworldwide
Added: Jun 4
Changed: Oct 11
Last Checked: Oct 19 at 3:17AM
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
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Investment Insights
Based on property information with market context.
This offering represents a large-scale medical center referral footprint, encompassing more than 5 million square feet of healthcare space, including hospitals, clinics, research centers, and educational facilities. The platform supports broad specialty care delivery tied to a regional patient referral model, with a network that includes more than 30 clinic locations.
Located at 4324 23rd St in Lubbock, Texas, the medical district serves more than 1.2 million people across West Texas, Eastern New Mexico, and the Texas Panhandle. The system draws patients from over 100 counties, functioning as a referral center for specialized care for both urban and rural communities.
For buyers or operators evaluating healthcare-related real estate, the structure and scale reflected in the medical district profile may be well suited to organizations seeking an established regional care delivery platform anchored by prominent healthcare institutions, including UMC and Covenant Health. The depth of uses listed—hospital, clinic, research, and educational facilities—can support multiple healthcare delivery models within a single regional framework.
Located at 4324 23rd St in Lubbock, Texas, the medical district serves more than 1.2 million people across West Texas, Eastern New Mexico, and the Texas Panhandle. The system draws patients from over 100 counties, functioning as a referral center for specialized care for both urban and rural communities.
For buyers or operators evaluating healthcare-related real estate, the structure and scale reflected in the medical district profile may be well suited to organizations seeking an established regional care delivery platform anchored by prominent healthcare institutions, including UMC and Covenant Health. The depth of uses listed—hospital, clinic, research, and educational facilities—can support multiple healthcare delivery models within a single regional framework.
Key Highlights
- Year built: 1971.
- Regional medical referral hub featuring over 5 million SF of medical space.
- Includes hospitals, clinics, research centers, and educational facilities.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$87,587
Cap Rate
3.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,751,740
$1.8M
Cap Rate 7%
$1,251,243
$1.3M
Cap Rate 9%
$973,189
$973.2K
Market Conditions
NOI Build-Up for 6,521 SF
Gross rent
$160.4K $24.60/SF
− Vacancy
−$14.4K −$2.21/SF
EGI
$146.0K $22.39/SF
− OpEx
−$58.4K −$8.95/SF
NOI
$87.6K $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%
$1,751,740
Cap Rate 7%
$1,251,243
Cap Rate 9%
$973,189
Alternative Uses
Best Use
Healthcare Medical
$1.25M
$1.09M – $1.46M
NOI $87,587 @ 7.0% cap · market cap 3.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.64M
$1.44M – $1.92M
NOI $115,077 @ 7.0% cap · market cap 4.60%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,241
Businesses Nearby
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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Frequently Asked Questions
What type of property is this?
Hospital - Regional medical referral hub with large-scale healthcare space and clinic network serving over 1.2 million people.
Where is this hospital located?
The property is located at 4324 23rd St Lubbock, TX.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Year built: 1971.; Regional medical referral hub featuring over 5 million SF of medical space.; Includes hospitals, clinics, research centers, and educational facilities.
