Properties For Sale

at 6305 79th St

6305 79th Street AVAILABLE

Size 2,353 SF

Type OFFICE

Lease Type NNN

Step into this newly constructed office space designed to foster productivity and collaboration. This sleek office features: 6 Private Offices and a larger conference room at the front of the office with easy access to the lobby and reception area. The fully equipped break room is in the rear of the office with ample room for employees, there are 2 separate restrooms and a centrally located copy/work room. With its functional layout and excellent location, this office is perfect for businesses seeking a professional environment with all the amenities necessary to thrive. Don't miss the opportunity to secure this versatile and efficient workspace. Contact us for more details or to schedule a tour!

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Listing Agency: WestMark Commercial | TCN Worldwide Show Phone

Listed By: Karen Higgins, CCIM · License ##0331521-B Show Phone

Source: Moodyscre

Added: Jan 13, 2025 Changed: Oct 7 Last Checked: Oct 20 at 10:02PM

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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

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

This newly constructed office space is designed to foster productivity and collaboration. The office features six private offices and a larger conference room located at the front, providing easy access to the lobby and reception area. A fully equipped break room is situated at the rear of the office, offering ample space for employees. The layout includes two separate restrooms and a centrally located copy/work room. The property is located in Lubbock, TX. The office space contains 2353 square feet. This office is suitable for businesses seeking a professional environment with necessary amenities.

Key Highlights

• Newly constructed office space.
• 6 Private Offices and a large conference room.
• Excellent location.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$30,760

Cap Rate

4.59%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$615,200 $615.2K

Cap Rate 7%

$439,429 $439.4K

Cap Rate 9%

$341,778 $341.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,353 SF

Gross rent

$49.4K $21.00/SF

− Vacancy

−$8.4K −$3.57/SF

EGI

$41.0K $17.43/SF

− OpEx

−$10.3K −$4.36/SF

NOI

$30.8K $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%

$615,200

Cap Rate 7%

$439,429

Cap Rate 9%

$341,778

Alternative Uses

Best Use

Office B

$439.4K

$384.5K – $512.7K (±1% cap)

NOI $30,760 @ 7.0% cap · market cap 4.59%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$593.2K

$519.1K – $692.1K (±1% cap)

NOI $41,524 @ 7.0% cap · market cap 6.19%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Office Units

Suggested Use

Top Pick Law Firm Big Box & Wholesale Store Grocery & Convenience Store Hotel & Motel Food Market Building Supply

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

469

Businesses Nearby

Explore this area Business Placement

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

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Frequently Asked Questions

What type of property is this?

Office unit - Newly constructed office space designed for productivity and collaboration.

Where is this office unit located?

The property is located at 6305 79th St Lubbock, TX.

What is the asking price?

The asking price for this property is $670,605.

What are key features of this property?

This property features: Newly constructed office space.; 6 Private Offices and a large conference room.; Excellent location.