Garden Office Building with
4529 114th St, Lubbock, TX 79424
For Sale
$1,050,000
Newly net-leased 2023 garden office with 13 private offices, conference room, ADA restrooms, and a covered back patio.
Property Size3,822 SF
Days on Market109
Property Features for 4529 114th St
General Information
Standard status
Size
Class
Property subtype
Amenities
private offices
conference room
ADA-compliant restrooms
break room
covered back patio
Building Details
Building Size
Year Built
Tenancy
Listing Agency:
Coldwell Banker Commercial Capital Advisors
Listed By:
Scott Womack
(806) 784-3265
Source:
Thebrokerlist
Added: Jul 24
Changed: Oct 25
Last Checked: Nov 8 at 2:16AM
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.
Newly net-leased garden office building constructed in 2023. The interior layout includes 13 private offices, a conference room, a break room, and two ADA-compliant restrooms. Upgraded finishes throughout support a Class A presentation, and the building is fully ADA compliant. A covered back patio overlooks Vintage Township.
The property is located near the high-traffic intersection of 114th Street and Quaker Avenue in south Lubbock, and it is immediately west of H-E-B. The surrounding area includes garden office developments and established retail, restaurant, and professional service users. Nearby national and regional retailers listed in the marketing materials include Walmart, Academy Sports + Outdoors, Parry’s Pizzeria & Taphouse, and Chase Bank, with additional shopping, dining, office, and service destinations within approximately one-half mile.
A five-year lease is in place that commences September 1, 2026. The lease includes annual rental increases and two additional five-year extension options.
The property is located near the high-traffic intersection of 114th Street and Quaker Avenue in south Lubbock, and it is immediately west of H-E-B. The surrounding area includes garden office developments and established retail, restaurant, and professional service users. Nearby national and regional retailers listed in the marketing materials include Walmart, Academy Sports + Outdoors, Parry’s Pizzeria & Taphouse, and Chase Bank, with additional shopping, dining, office, and service destinations within approximately one-half mile.
A five-year lease is in place that commences September 1, 2026. The lease includes annual rental increases and two additional five-year extension options.
Key Highlights
- 2023 Class A garden office building with 13 private offices plus a conference room
- Newly signed NNN lease with a national credit tenant in the agricultural industry
- Five‑year lease begins September 1, 2026, with annual rental increases and two additional five‑year extension options
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$49,963
Cap Rate
4.76%
Suggested Prices Based on Cap Rates
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
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 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 4.76%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$963.5K
$843.1K – $1.12M
NOI $67,448 @ 7.0% cap · market cap 6.42%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
396
Businesses Nearby
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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
$279,600
Median Home Value
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Market
Average Price Trend$/SF for Office buildings in Lubbock, TX
Properties on Market for Office buildings in Lubbock
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - Newly net-leased 2023 garden office with 13 private offices, conference room, ADA restrooms, and a covered back patio.
Where is this office building located?
The property is located at 4529 114th St Lubbock, TX.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: 2023 Class A garden office building with 13 private offices plus a conference room; Newly signed NNN lease with a national credit tenant in the agricultural industry; Five‑year lease begins September 1, 2026, with annual rental increases and two additional five‑year extension options
