Modern Single-Tenant Office
5312 114th Street Lubbock, TX 79424
New
For Sale
$940,000
Completed in 2021, this single-tenant office building is fully leased under a recently renewed two-year term.
Property Size4,179 SF
Price / SF$224.93
Days on Market3
Property Features for 5312 114th Street
General Information
- Standard status
- Active
- Size
- 4,179 SF
- Property subtype
- Office
Building Details
- Year Built
- 2019
Listing Agency:
WestMark Commercial | TCN Worldwide
(806) 776-2833
Listed By:
Karen Higgins, CCIM · License #TX #0331521-B
Source:
Westmarkcommercial
Added: Jul 24
Changed: Jul 25
Last Checked: Jul 26 at 4:36AM
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 WestMark Commercial | TCN Worldwide
Investment Insights
Based on property information with market context.
Completed in 2021, this Class A, single-tenant office building totals 4,179 square feet and is fully leased. The property includes a recently renewed two-year lease and built-in rental escalations designed to support income growth.
Located on 114th Street just west of Slide Road, the building is positioned within a surrounding mix of professional offices, retail, restaurants, and rapidly growing residential development.
With its completed modern design and current occupancy, the asset presents a straightforward, leased office investment opportunity centered on one tenant.
Located on 114th Street just west of Slide Road, the building is positioned within a surrounding mix of professional offices, retail, restaurants, and rapidly growing residential development.
With its completed modern design and current occupancy, the asset presents a straightforward, leased office investment opportunity centered on one tenant.
Key Highlights
- 4,179 SF single‑tenant Class A office building completed in 2021
- 100% leased; recently renewed two‑year lease in place
- Built‑in rental escalations provide income growth
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 | $87.8k | $21.00 |
| − Vacancy | −$14.9k | −$3.57 |
| EGI | $72.8k | $17.43 |
| − OpEx | −$18.2k | −$4.36 |
| NOI | $54.6k | $13.07 |
4,179 SF · lease $21.00/SF/yr · vacancy 17.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$780.4K
$682.9K – $910.5K
NOI $54,630 @ 7.0% cap · market cap 5.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.05M
$921.9K – $1.23M
NOI $73,748 @ 7.0% cap · market cap 7.85%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Gallagher Insurance, Risk ...
Insurance Agency
FAQs
What type of property is this?
Office building - Completed in 2021, this single-tenant office building is fully leased under a recently renewed two-year term.
Where is this office building located?
The property is located at 5312 114th Street Lubbock, TX.
What is the asking price?
The asking price for this property is $940,000.
What are key features of this property?
This property features: 4,179 SF single‑tenant Class A office building completed in 2021; 100% leased; recently renewed two‑year lease in place; Built‑in rental escalations provide income growth
