Office Building for
For Sale
$886,325
6302 70th St, Lubbock, TX 79424
Office building available for sale at 6302 70th St in Lubbock, Texas.
Property Size3,223 SF
Days on Market58
Property Features for 6302 70th St
General Information
Standard status
Active
Size
3,223 SF
Class
A
Property subtype
Office
Building Details
Building Size
3,223 SF
Year Built
2019
Listing Agency:
WestMark Commercial | TCN Worldwide
Listed By:
Karen Higgins, CCIM · License #TX #0331521-B
(806) 776-2833
Source:
Westmarkcommercial
Added: Jul 24
Changed: Sep 9
Last Checked: Sep 19 at 7:28AM
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.
This offering consists of an office building and/or office spaces available for sale. The property is presented as commercial real estate with office-focused use.
The asset is located at 6302 70th St, Lubbock, TX 79424. For availability, showings, and details on the specific office space configuration included, contact the listing team.
Additional property characteristics such as size, layout, condition, and improvements were not provided in the available information.
The asset is located at 6302 70th St, Lubbock, TX 79424. For availability, showings, and details on the specific office space configuration included, contact the listing team.
Additional property characteristics such as size, layout, condition, and improvements were not provided in the available information.
Key Highlights
- Office building for sale at 6302 70th St in Lubbock, Texas
- Built in 2019
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
$42,133
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
4.75%
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%
$842,660
$842.7K
Cap Rate 7%
$601,900
$601.9K
Cap Rate 9%
$468,144
$468.1K
Market Conditions
NOI Build-Up for 3,223 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
$67.7K $21.00/SF
− Vacancy
−$11.5K −$3.57/SF
EGI
$56.2K $17.43/SF
− OpEx
−$14.0K −$4.36/SF
NOI
$42.1K $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%
$842,660
Cap Rate 7%
$601,900
Cap Rate 9%
$468,144
Alternative Uses
Best Use
Office B
$601.9K
$526.7K – $702.2K
NOI $42,133 @ 7.0% cap · market cap 4.75%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$812.5K
$711.0K – $948.0K
NOI $56,877 @ 7.0% cap · market cap 6.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
457
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 - Office building available for sale at 6302 70th St in Lubbock, Texas.
Where is this office building located?
The property is located at 6302 70th St Lubbock, TX.
What is the asking price?
The asking price for this property is $886,325.
What are key features of this property?
This property features: Office building for sale at 6302 70th St in Lubbock, Texas; Built in 2019
