Class A Garden Office
For Sale
$966,500
4529 114th Street, Lubbock, TX 79424
Recently constructed office building with upgraded finishes and full ADA compliance.
Property Size3,822 SF
Lot Size5,600.00 Acres
Days on Market171
Property Features for 4529 114th Street
General Information
Standard status
Active
Size
3,822 SF
Lot size
5,600.00 Acres
Property subtype
Office
Zoning
OF - Office
Building Details
Building Size
3,822 SF
Year Built
2023
Stories
1
Listing Agency:
Coldwell Banker Commercial Capital Advisors
(806) 784-3265
Listed By:
Scott Womack · License #437816
(806) 784-3265
Source:
Cbcworldwide
Added: Mar 5
Changed: Aug 8
Last Checked: Apr 5 at 8:46PM
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 recently constructed Class A garden office building is located near 114th Street. The building features 13 offices, one conference room, and a break room. It also includes two ADA-compliant restrooms and a back patio overlooking Vintage Township. Upgraded finishes are present throughout the building. Constructed in 2023, the property offers full ADA compliance. The property spans 5,600 acres.
Key Highlights
- Recent Construction (2023): Modern building with up‑to‑date features.
- Class A Garden Office: High‑quality office space in an attractive, landscaped setting.
- 13 Offices & Conference Room: Ample office space suitable for various business needs.
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
5.17%
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 5.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$963.5K
$843.1K – $1.12M
NOI $67,448 @ 7.0% cap · market cap 6.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
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 - Recently constructed office building with upgraded finishes and full ADA compliance.
Where is this office building located?
The property is located at 4529 114th Street Lubbock, TX.
What is the asking price?
The asking price for this property is $966,500.
What are key features of this property?
This property features: Recent Construction (2023): Modern building with up‑to‑date features.; Class A Garden Office: High‑quality office space in an attractive, landscaped setting.; 13 Offices & Conference Room: Ample office space suitable for various business needs.
