Single-Story Office
For Sale
Contact for pricing
6611 Monticello Avenue, Lubbock, TX 79424
Professional office suite with private entry, dedicated parking, and exterior signage opportunities.
Property Size2,125 SF
Price / SF$305
Days on Market12
Property Features for 6611 Monticello Avenue
General Information
Standard status
Active
Size
2,125 SF
Property subtype
OFFICE
Building Details
Stories
1
Listing Agency:
Keller Williams Commercial Lubbock
(806) 771-7710
Listed By:
Jeremy Steen · License #685530
(806) 392-0578
Source:
Moodyscre
Added: Sep 8
Changed: Sep 14
Last Checked: Sep 18 at 10:41AM
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 Keller Williams Commercial Lubbock
Investment Insights
Based on property information with market context.
This 2,125-square-foot office unit is configured as a single-story garden-office suite with a professional setting and flexible floor plan. The space includes a private exterior entrance, dedicated parking, and opportunities for exterior signage. Modern finishes, high ceilings, abundant natural light, and an efficient layout support a client-facing workplace.
The suite is positioned for medical, healthcare, and other professional office uses, including legal, accounting, financial advisory, and related practices. Its independent access and functional configuration provide a practical setting for an owner-user or an office tenant seeking a dedicated location.
The suite is positioned for medical, healthcare, and other professional office uses, including legal, accounting, financial advisory, and related practices. Its independent access and functional configuration provide a practical setting for an owner-user or an office tenant seeking a dedicated location.
Key Highlights
- 2,125 square feet of professional office space
- Single‑story garden‑office configuration
- Private exterior entrance with direct parking access
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
$28,542
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
4.40%
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%
$570,840
$570.8K
Cap Rate 7%
$407,743
$407.7K
Cap Rate 9%
$317,133
$317.1K
Market Conditions
NOI Build-Up for 2,125 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
$52.3K $24.60/SF
− Vacancy
−$4.7K −$2.21/SF
EGI
$47.6K $22.39/SF
− OpEx
−$19.0K −$8.95/SF
NOI
$28.5K $13.43/SF
Area
Lubbock, TX
Vacancy
9.00%
Lease Rate
$24.60 /SF/Yr
Expense Ratio
40.00%
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%
$570,840
Cap Rate 7%
$407,743
Cap Rate 9%
$317,133
Alternative Uses
Best Use
Healthcare Medical
$407.7K
$356.8K – $475.7K
NOI $28,542 @ 7.0% cap · market cap 4.40%
Second Best
Office B
$396.8K
$347.2K – $463.0K
NOI $27,779 @ 7.0% cap · market cap 4.29%
Theoretical Best
Office A
$535.7K
$468.8K – $625.0K
NOI $37,500 @ 7.0% cap · market cap 5.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
182
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Professional office suite with private entry, dedicated parking, and exterior signage opportunities.
Where is this office units located?
The property is located at 6611 Monticello Avenue Lubbock, TX.
What is the asking price?
The asking price for this property is $648,125.
What are key features of this property?
This property features: 2,125 square feet of professional office space; Single‑story garden‑office configuration; Private exterior entrance with direct parking access
