Two-Tenant Office
5703 114th Street, Lubbock, TX 79424
For Sale
New
Contact for pricing
Two occupied suites are leased to a financial advisory practice and a pediatric home health provider.
Property Size4,212 SF
Price / SF$276.41
Days on Market5
Property Features for 5703 114th Street
General Information
Standard status
Size
Net Rentable
Property subtype
Net Operating Income
Financials
Asking Price
Cap Rate
Gross Income
Tenancy & Operations
Currently Operating
Tenant in Place
Additional Details
Office Units
Property Use
Building Details
Tenancy
Listing Agency:
Murphy and Martin Real Estate, LLC
Listed By:
Murphy Coon · License TX #669982
(806) 891-3195
Source:
Crexi
Added: Nov 6
Changed: Nov 8
Last Checked: Nov 8 at 3:39PM
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 Murphy and Martin Real Estate, LLC
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Investment Insights
Based on property information with market context.
The two-suite office property at 5703 114th Street in Lubbock contains approximately 4,212 rentable square feet. Suite 100 is occupied by Cumbie Financial, a family-owned financial advisory and planning practice; Suite 200 is leased to Angels of Care Pediatric Home Health, which provides nursing, home health, and therapy services across multiple states.
The leases have staggered expiration dates in 2029. Cumbie Financial’s term runs through December 31, 2029, while Angels of Care’s lease runs through June 30, 2029. Each tenant holds two three-year renewal options, subject to its lease terms. The advertised 6.5% cap rate is based on modeled annual NOI before NNN reconciliation.
The leases have staggered expiration dates in 2029. Cumbie Financial’s term runs through December 31, 2029, while Angels of Care’s lease runs through June 30, 2029. Each tenant holds two three-year renewal options, subject to its lease terms. The advertised 6.5% cap rate is based on modeled annual NOI before NNN reconciliation.
Key Highlights
- Two office suites totaling approximately 4,212 rentable square feet
- Suite 100 leased to Cumbie Financial; Suite 200 leased to Angels of Care Pediatric Home Health
- Cumbie Financial lease runs through December 31, 2029
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$55,061
Cap Rate
4.73%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,101,220
$1.1M
Cap Rate 7%
$786,586
$786.6K
Cap Rate 9%
$611,789
$611.8K
Market Conditions
NOI Build-Up for 4,212 SF
Gross rent
$88.5K $21.00/SF
− Vacancy
−$15.0K −$3.57/SF
EGI
$73.4K $17.43/SF
− OpEx
−$18.4K −$4.36/SF
NOI
$55.1K $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%
$1,101,220
Cap Rate 7%
$786,586
Cap Rate 9%
$611,789
Alternative Uses
Best Use
Office B
$786.6K
$688.3K – $917.7K
NOI $55,061 @ 7.0% cap · market cap 4.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.06M
$929.1K – $1.24M
NOI $74,330 @ 7.0% cap · market cap 6.38%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
264
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 - Two occupied suites are leased to a financial advisory practice and a pediatric home health provider.
Where is this office building located?
The property is located at 5703 114th Street Lubbock, TX.
What is the asking price?
The asking price for this property is $1,164,240.
What are key features of this property?
This property features: Two office suites totaling approximately 4,212 rentable square feet; Suite 100 leased to Cumbie Financial; Suite 200 leased to Angels of Care Pediatric Home Health; Cumbie Financial lease runs through December 31, 2029
