Single-Story Office
New
For Sale
$637,450
6613 Monticello Avenue, Lubbock, TX 79424
Professional suites offer private entrances, adaptable layouts, dedicated parking, and signage opportunities.
Property Size2,090 SF
Price / SF$305
Days on Market7
Property Features for 6613 Monticello Avenue
General Information
Standard status
Active
Size
2,090 SF
Class
A
Property subtype
OFC
Zoning
Auto-Urban Commercial (AC)
Amenities
private exterior entrances
signage opportunities
Building Details
Building Size
2,090 SF
Year Built
2026
Buildings
1
Stories
1
Units
1
Listing Agency:
Keller Williams Commercial Lubbock
Listed By:
Jeremy Steen · License #685530
(806) 392-0578
Source:
Realnex
Added: Sep 9
Changed: Sep 11
Last Checked: Sep 13 at 3:51AM
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 2026 office development provides 2,090 sqft of professional space in a single-story garden-office format. Suites feature separate exterior entrances, flexible floor plans, dedicated parking, and opportunities for property signage. The setting is designed for a client-facing professional environment and supports medical, healthcare, and general office operations.
Located at 6613 Monticello Avenue in Lubbock, Texas, the property is zoned Auto-Urban Commercial (AC). The office configuration is suited to practices and service providers including attorneys, accountants, financial advisors, and other professional users.
Located at 6613 Monticello Avenue in Lubbock, Texas, the property is zoned Auto-Urban Commercial (AC). The office configuration is suited to practices and service providers including attorneys, accountants, financial advisors, and other professional users.
Key Highlights
- 2,090 sqft of professional office space
- Single‑story garden‑office development built in 2026
- Private exterior entrances for each suite
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
$28,072
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%
$561,440
$561.4K
Cap Rate 7%
$401,029
$401.0K
Cap Rate 9%
$311,911
$311.9K
Market Conditions
NOI Build-Up for 2,090 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
$51.4K $24.60/SF
− Vacancy
−$4.6K −$2.21/SF
EGI
$46.8K $22.39/SF
− OpEx
−$18.7K −$8.95/SF
NOI
$28.1K $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%
$561,440
Cap Rate 7%
$401,029
Cap Rate 9%
$311,911
Alternative Uses
Best Use
Healthcare Medical
$401.0K
$350.9K – $467.9K
NOI $28,072 @ 7.0% cap · market cap 4.40%
Second Best
Office B
$390.3K
$341.5K – $455.4K
NOI $27,322 @ 7.0% cap · market cap 4.29%
Theoretical Best
Office A
$526.9K
$461.0K – $614.7K
NOI $36,883 @ 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
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Frequently Asked Questions
What type of property is this?
Office units - Professional suites offer private entrances, adaptable layouts, dedicated parking, and signage opportunities.
Where is this office units located?
The property is located at 6613 Monticello Avenue Lubbock, TX.
What is the asking price?
The asking price for this property is $637,450.
What are key features of this property?
This property features: 2,090 sqft of professional office space; Single‑story garden‑office development built in 2026; Private exterior entrances for each suite
