Garden Office Building with
For Sale
$1,070,000
4529 114th St, Lubbock, TX 79424
Newly net-leased 2023 garden office with 13 private offices, conference room, ADA restrooms, and a covered back patio.
Days on Market10
Property Features for 4529 114th St
General Information
Standard status
Active
Class
A
Property subtype
Multi Tenant Office
Amenities
private offices
conference room
ADA-compliant restrooms
break room
covered back patio
Building Details
Building Size
3,822 SF
Year Built
2023
Tenancy
Single
Listing Agency:
Coldwell Banker Commercial Capital Advisors
(806) 784-3265
Listed By:
Scott Womack · License #437816
(806) 784-3265
Source:
Thebrokerlist
Added: Jul 24
Changed: Jul 25
Last Checked: Aug 1 at 2:14AM
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.
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 For Office B
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 | $80.3k | $21.00 |
| − Vacancy | −$13.6k | −$3.57 |
| EGI | $66.6k | $17.43 |
| − OpEx | −$16.7k | −$4.36 |
| NOI | $50.0k | $13.07 |
3,822 SF · lease $21.00/SF/yr · vacancy 17.00% · expense 25.00%
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
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
326
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 - 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 $1,070,000.
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
