Office Suite with Six Private
For Sale
Contact for pricing
6307 79th St, Lubbock, TX 79424
Office suite layout includes six private offices, a conference room, break room, two restrooms, and a copy/work room.
Property Size2,342 SF
Price / SF$285
Days on Market614
Property Features for 6307 79th St
General Information
Standard status
Active
Size
2,342 SF
Property subtype
OFFICE
Listing Agency:
WestMark Commercial | TCN Worldwide
(806) 794-3300
Listed By:
Karen Higgins, CCIM · License ##0331521-B
(806) 781-3875
Source:
Moodyscre
Added: Jan 13, 2025
Changed: Sep 14
Last Checked: Sep 19 at 11:43AM
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 office suite is part of a new office development in South Lubbock and is designed around a functional, employee-friendly layout. The space features six private offices and a larger conference room at the front, with easy access to the lobby and reception area. The break room is located toward the rear and is described as fully equipped with ample room for employees.
The suite also includes two separate restrooms and a centrally located copy/work room, supporting day-to-day operations and visitor workflow. Overall, the configuration balances private work areas with shared space for meetings and collaboration.
The property size is 2,342 SF, offering a compact office environment for a range of professional uses.
The suite also includes two separate restrooms and a centrally located copy/work room, supporting day-to-day operations and visitor workflow. Overall, the configuration balances private work areas with shared space for meetings and collaboration.
The property size is 2,342 SF, offering a compact office environment for a range of professional uses.
Key Highlights
- 2,342 SF office suite in a new South Lubbock office development
- Six private offices plus a larger front conference room
- Conference room provides easy access to the lobby and reception area
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
$30,616
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%
$612,320
$612.3K
Cap Rate 7%
$437,371
$437.4K
Cap Rate 9%
$340,178
$340.2K
Market Conditions
NOI Build-Up for 2,342 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
$49.2K $21.00/SF
− Vacancy
−$8.4K −$3.57/SF
EGI
$40.8K $17.43/SF
− OpEx
−$10.2K −$4.36/SF
NOI
$30.6K $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%
$612,320
Cap Rate 7%
$437,371
Cap Rate 9%
$340,178
Alternative Uses
Best Use
Office B
$437.4K
$382.7K – $510.3K
NOI $30,616 @ 7.0% cap · market cap 4.59%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$590.4K
$516.6K – $688.8K
NOI $41,330 @ 7.0% cap · market cap 6.19%
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
469
Businesses Nearby
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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
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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 - Office suite layout includes six private offices, a conference room, break room, two restrooms, and a copy/work room.
Where is this office units located?
The property is located at 6307 79th St Lubbock, TX.
What is the asking price?
The asking price for this property is $667,470.
What are key features of this property?
This property features: 2,342 SF office suite in a new South Lubbock office development; Six private offices plus a larger front conference room; Conference room provides easy access to the lobby and reception area
