Two-Story Mixed-Use
For Sale
Contact for pricing
612 Broadway, Lubbock, TX 79401
The main floor combines reception, private offices, workrooms, and an open bullpen area.
Property Size10,900 SF
Price / SF$165.14
Days on Market8
Property Features for 612 Broadway
General Information
Standard status
Active
Size
10,900 SF
Property subtype
OFFICE
Amenities
original wood floors
reception area
private offices
workrooms
bullpen area
distinctive view into lower level
large open space
original fully operational safe
private parking lot
Building Details
Buildings
1
Stories
2
Listing Agency:
McDougal, REALTORS
(806) 793-0703
Listed By:
Ethan Quisenberry · License #0758039
(806) 317-0234
Source:
Moodyscre
Added: Oct 6
Changed: Oct 10
Last Checked: Oct 12 at 6:56PM
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.
Dating to the 1920s, this 10,900-square-foot, two-level mixed-use property includes a main floor with original wood flooring, reception space, private offices, workrooms, and a bullpen. An opening at the former elevator shaft provides a view between floors.
The lower level offers a large open area, along with an original safe that remains operational. A private parking lot of approximately ¼ acre occupies the west side of the building.
The lower level offers a large open area, along with an original safe that remains operational. A private parking lot of approximately ¼ acre occupies the west side of the building.
Key Highlights
- 10,900‑square‑foot building constructed in the 1920s
- Two‑story layout with reception, offices, workrooms, and bullpen on the main floor
- Large open lower‑level area and original operational safe
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$143,471
Cap Rate
7.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,869,420
$2.9M
Cap Rate 7%
$2,049,586
$2.0M
Cap Rate 9%
$1,594,122
$1.6M
Market Conditions
NOI Build-Up for 10,900 SF
Gross rent
$255.1K $23.40/SF
− Vacancy
−$25.5K −$2.34/SF
EGI
$229.6K $21.06/SF
− OpEx
−$86.1K −$7.90/SF
NOI
$143.5K $13.16/SF
Area
Lubbock, TX
Vacancy
10.00%
Lease Rate
$23.40 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,869,420
Cap Rate 7%
$2,049,586
Cap Rate 9%
$1,594,122
Alternative Uses
Best Use
Mixed Use
$2.05M
$1.79M – $2.39M
NOI $143,471 @ 7.0% cap · market cap 7.97%
Second Best
Office B
$2.04M
$1.78M – $2.37M
NOI $142,490 @ 7.0% cap · market cap 7.92%
Theoretical Best
Office A
$2.75M
$2.40M – $3.21M
NOI $192,354 @ 7.0% cap · market cap 10.69%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Location Intelligence
Trade Area within ½ mile
1,511
Businesses Nearby
Explore this area
Business Placement
Demographics for 79401, TX
8,775
Population
4,813
Households
1.8
Avg Household Size
26
Median Age
26%
College-Educated
85%
High-School Grad
2.5 sq mi
ZIP Area
3,510
Density / Sq Mi
$27,255
Median Household Income
$20,570
Median Earnings
$1,048
Median Rent
$101,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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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?
Mixed-use property - The main floor combines reception, private offices, workrooms, and an open bullpen area.
Where is this mixed-use property located?
The property is located at 612 Broadway Lubbock, TX.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: 10,900‑square‑foot building constructed in the 1920s; Two‑story layout with reception, offices, workrooms, and bullpen on the main floor; Large open lower‑level area and original operational safe
