Garden Office Duplex with Two
For Sale
Contact for pricing
6028 4th Street, Lubbock, TX 79416
Duplex garden office includes two suites, each with six private offices, reception space, two restrooms, and a kitchenette.
Property Size3,250 SF
Price / SF$285
Days on Market390
Property Features for 6028 4th Street
General Information
Standard status
Active
Size
3,250 SF
Property subtype
OFFICE
Building Details
Construction
garden offices
Listing Agency:
McDougal, REALTORS
(806) 793-0703
Listed By:
Ethan Quisenberry · License #0758039
(806) 317-0234
Source:
Moodyscre
Added: Aug 25, 2025
Changed: Sep 13
Last Checked: Sep 16 at 8:13PM
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 McDougal, REALTORS
Investment Insights
Based on property information with market context.
A duplex garden office property with two separate suites, offering a professional, efficient layout designed for office and medical office use. Suite 100 provides approximately 1,667 square feet and Suite 200 provides approximately 1,583 square feet. Both suites include six private offices, two restrooms, a welcoming reception area, and a kitchenette.
The property is located on 4th Street between Milwaukee Avenue and Frankford Avenue, with accessibility to Loop 289 and the Marsha Sharp Freeway.
This offering represents new-construction garden office space within the development, with availability for either sale or lease options.
The property is located on 4th Street between Milwaukee Avenue and Frankford Avenue, with accessibility to Loop 289 and the Marsha Sharp Freeway.
This offering represents new-construction garden office space within the development, with availability for either sale or lease options.
Key Highlights
- Duplex garden office at 6028 4th Street with a total of 3,250 SF
- Suite 100: 1,667 SF with six private offices, reception area, two restrooms, and kitchenette
- Suite 200: 1,583 SF with six private offices, reception area, two restrooms, and kitchenette
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
$42,486
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
4.59%
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%
$849,720
$849.7K
Cap Rate 7%
$606,943
$606.9K
Cap Rate 9%
$472,067
$472.1K
Market Conditions
NOI Build-Up for 3,250 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
$68.3K $21.00/SF
− Vacancy
−$11.6K −$3.57/SF
EGI
$56.6K $17.43/SF
− OpEx
−$14.2K −$4.36/SF
NOI
$42.5K $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%
$849,720
Cap Rate 7%
$606,943
Cap Rate 9%
$472,067
Alternative Uses
Best Use
Office B
$606.9K
$531.1K – $708.1K
NOI $42,486 @ 7.0% cap · market cap 4.59%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$819.3K
$716.9K – $955.9K
NOI $57,353 @ 7.0% cap · market cap 6.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
294
Businesses Nearby
Explore this area
Business Placement
Demographics for 79416, TX
36,251
Population
16,094
Households
2.3
Avg Household Size
30
Median Age
39%
College-Educated
93%
High-School Grad
32.1 sq mi
ZIP Area
1,129
Density / Sq Mi
$65,200
Median Household Income
$34,258
Median Earnings
$1,269
Median Rent
$196,900
Median Home Value
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office units - Duplex garden office includes two suites, each with six private offices, reception space, two restrooms, and a kitchenette.
Where is this office units located?
The property is located at 6028 4th Street Lubbock, TX.
What is the asking price?
The asking price for this property is $926,250.
What are key features of this property?
This property features: Duplex garden office at 6028 4th Street with a total of 3,250 SF; Suite 100: 1,667 SF with six private offices, reception area, two restrooms, and kitchenette; Suite 200: 1,583 SF with six private offices, reception area, two restrooms, and kitchenette
