Garden Office Building with
For Sale
Contact for pricing
4529 114 St, Lubbock, TX 79424
Newly constructed 2023 garden office includes 13 private offices, conference room, and ADA-compliant restrooms.
Property Size3,822 SF
Price / SF$279.96
Days on Market58
Property Features for 4529 114 St
General Information
Standard status
Active
Size
3,822 SF
Class
Class A
Property subtype
RETAIL
Additional Details
Office Units
13
Amenities
13 private offices
conference room
two ADA-compliant restrooms
break room
covered back patio
Building Details
Year Built
2023
Listing Agency:
Coldwell Banker Commercial Capital Advisors
(806) 793-0888
Listed By:
Scott Womack · License #437816
(806) 535-0888
Source:
Moodyscre
Added: Jul 22
Changed: Sep 3
Last Checked: Sep 16 at 4:51PM
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.
Constructed in 2023, this Class A garden office building is newly net-leased and positioned for long-term income. The interior features 13 private offices plus a conference room, along with two ADA-compliant restrooms and a break room. A covered back patio overlooks Vintage Township, and the property is fully ADA compliant with upgraded finishes throughout.
The building is located near the high-traffic intersection of 114th Street and Quaker Avenue, in a busy commercial corridor in south Lubbock. It is situated immediately west of H-E-B, providing convenient access and strong local visibility.
The current lease term begins September 1, 2026 and runs for five years, with annual rental increases and two additional five-year extension options.
The building is located near the high-traffic intersection of 114th Street and Quaker Avenue, in a busy commercial corridor in south Lubbock. It is situated immediately west of H-E-B, providing convenient access and strong local visibility.
The current lease term begins September 1, 2026 and runs for five years, with annual rental increases and two additional five-year extension options.
Key Highlights
- Newly constructed in 2023 class A garden office building with 13 private offices plus a conference room.
- Five‑year net lease starts September 1, 2026 with annual rental increases and two additional five‑year extension options.
- Fully ADA compliant with two ADA‑compliant restrooms and a break room.
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
$49,963
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
4.67%
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%
$999,260
$999.3K
Cap Rate 7%
$713,757
$713.8K
Cap Rate 9%
$555,144
$555.1K
Market Conditions
NOI Build-Up for 3,822 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
$80.3K $21.00/SF
− Vacancy
−$13.6K −$3.57/SF
EGI
$66.6K $17.43/SF
− OpEx
−$16.7K −$4.36/SF
NOI
$50.0K $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%
$999,260
Cap Rate 7%
$713,757
Cap Rate 9%
$555,144
Alternative Uses
Best Use
Office B
$713.8K
$624.5K – $832.7K
NOI $49,963 @ 7.0% cap · market cap 4.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$963.5K
$843.1K – $1.12M
NOI $67,448 @ 7.0% cap · market cap 6.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
13
Office units
Location Intelligence
Trade Area within ½ mile
396
Businesses Nearby
Explore this area
Business Placement
Demographics for 79424, TX
53,479
Population
22,800
Households
2.3
Avg Household Size
38
Median Age
47%
College-Educated
95%
High-School Grad
41.6 sq mi
ZIP Area
1,286
Density / Sq Mi
$94,703
Median Household Income
$52,417
Median Earnings
$1,151
Median Rent
$279,600
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?
Office building - Newly constructed 2023 garden office includes 13 private offices, conference room, and ADA-compliant restrooms.
Where is this office building located?
The property is located at 4529 114 St Lubbock, TX.
What is the asking price?
The asking price for this property is $1,070,000.
What are key features of this property?
This property features: Newly constructed in 2023 class A garden office building with 13 private offices plus a conference room.; Five‑year net lease starts September 1, 2026 with annual rental increases and two additional five‑year extension options.; Fully ADA compliant with two ADA‑compliant restrooms and a break room.
