Building Details

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Listing Agency: Keller Williams Commercial Lubbock Show Phone

Listed By: Jeremy Steen · License #685530 Show Phone

Source: Moodyscre

Added: Sep 8 Changed: Nov 1 Last Checked: Nov 1 at 5:51AM

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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 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.

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 / Yr

$28,542

Cap Rate

4.40%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$570,840 $570.8K

Cap Rate 7%

$407,743 $407.7K

Cap Rate 9%

$317,133 $317.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,125 SF

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 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 (±1% cap)

NOI $28,542 @ 7.0% cap · market cap 4.40%

Second Best

Office B

$396.8K

$347.2K – $463.0K (±1% cap)

NOI $27,779 @ 7.0% cap · market cap 4.29%

Theoretical Best

Office A

$535.7K

$468.8K – $625.0K (±1% cap)

NOI $37,500 @ 7.0% cap · market cap 5.79%

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

Property Analytics

Current Use

Office Units

Suggested Use

Top Pick Real Estate Agency Dental Office Hair Salon Spa & Massage Center HVAC Service Kitchen & Bath Showroom

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

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

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 - Professional office suite with private entry, dedicated parking, and exterior signage opportunities.

Where is this office unit 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