Class A Multi-Office
For Sale
Contact for pricing
6121 79th St, Lubbock, TX 79424
Class A office building constructed in 2012 with one leased suite and one vacant suite for future occupancy.
Property Size12,626 SF
Lot Size1.10 Acres
Price / SF$237.60
Days on Market377
Property Features for 6121 79th St
General Information
Standard status
Active
Size
12,626 SF
Class
A
Lot size
1.10 Acres
Property subtype
OFFICE
Zoning
OF
Additional Details
Office Units
2
Building Details
Year Built
2012
Tenancy
Multi
Listing Agency:
The Powell Group
Listed By:
David Powell, CCIM · License #0257988
(806) 239-0804
Source:
Moodyscre
Added: Sep 3, 2025
Changed: Sep 11
Last Checked: Sep 13 at 11:14AM
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 The Powell Group
Investment Insights
Based on property information with market context.
Constructed in 2012, this class A multi-office building totals 12,626 square feet and is zoned for office use (OF). Suite A underwent more than $1 million in improvements during 2022–2023 and is approximately 8,000 square feet, leased under a 60-month agreement that commenced January 1, 2024. Suite B is currently vacant, offering flexibility for an owner-user or additional lease-up.
The property is located near 82nd Street, described as one of the city’s major thoroughfares, and includes ample parking for tenants and visitors.
With recent capital improvements and an established long-term tenant in Suite A, the building presents a current income component alongside available space in Suite B.
The property is located near 82nd Street, described as one of the city’s major thoroughfares, and includes ample parking for tenants and visitors.
With recent capital improvements and an established long-term tenant in Suite A, the building presents a current income component alongside available space in Suite B.
Key Highlights
- Class A office building constructed in 2012 totaling 12,626 SF on 1.1 acres
- Zoned OF (Office)
- Suite A: 8,000 SF leased to a long‑term nationally recognized tenant under a 60‑month agreement starting Jan 1, 2024
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
$165,053
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
5.50%
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%
$3,301,060
$3.3M
Cap Rate 7%
$2,357,900
$2.4M
Cap Rate 9%
$1,833,922
$1.8M
Market Conditions
NOI Build-Up for 12,626 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
$265.1K $21.00/SF
− Vacancy
−$45.1K −$3.57/SF
EGI
$220.1K $17.43/SF
− OpEx
−$55.0K −$4.36/SF
NOI
$165.1K $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 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%
$3,301,060
Cap Rate 7%
$2,357,900
Cap Rate 9%
$1,833,922
Alternative Uses
Best Use
Office B
$2.36M
$2.06M – $2.75M
NOI $165,053 @ 7.0% cap · market cap 5.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.18M
$2.79M – $3.71M
NOI $222,814 @ 7.0% cap · market cap 7.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
590
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
Check the figures for this property
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?
Office building - Class A office building constructed in 2012 with one leased suite and one vacant suite for future occupancy.
Where is this office building located?
The property is located at 6121 79th St Lubbock, TX.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: Class A office building constructed in 2012 totaling 12,626 SF on 1.1 acres; Zoned OF (Office); Suite A: 8,000 SF leased to a long‑term nationally recognized tenant under a 60‑month agreement starting Jan 1, 2024
