New Single-Tenant Office
For Sale
Contact for pricing
6927 82nd St, Lubbock, TX 79424
Newly constructed office building with a long-term lease in place.
Property Size2,221 SF
Price / SF$358.62
Days on Market185
Property Features for 6927 82nd St
General Information
Standard status
Active
Size
2,221 SF
Class
A
Property subtype
Office
Zoning
AC
Building Details
Year Built
2025
Listing Agency:
WestMark Commercial
(806) 777-8114
Listed By:
Kelsey Zickefoose · License #TX 0724914
Source:
Crexi
Added: Feb 19
Changed: Aug 8
Last Checked: Aug 8 at 2:49PM
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
Investment Insights
Based on property information with market context.
This is an exceptional opportunity to acquire a newly constructed, single-tenant office investment totaling 2,221 square feet. The modern, turnkey asset is secured with a 5-year lease in place, expiring in 2030, providing immediate and stable cash flow. The lease features a 3-year renewal option, offering extended income potential, along with annual rental escalations that create built-in revenue growth. Structured as a NNN (Triple Net) lease, the tenant is responsible for taxes, insurance, and maintenance. The building’s new construction ensures minimal deferred maintenance and lower capital expenditures in the near term, making it ideal for investors seeking a low-risk, stabilized asset with predictable returns. The property is located at 6927 82nd St, Lubbock, TX 79424.
Key Highlights
- Immediate and stable cash flow from a newly constructed, single‑tenant office building.
- NNN (Triple Net) lease structure, with tenant responsible for taxes, insurance, and maintenance.
- 5‑year lease in place, expiring in 2030, with a 3‑year renewal option.
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
$29,034
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
3.65%
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%
$580,680
$580.7K
Cap Rate 7%
$414,771
$414.8K
Cap Rate 9%
$322,600
$322.6K
Market Conditions
NOI Build-Up for 2,221 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
$46.6K $21.00/SF
− Vacancy
−$7.9K −$3.57/SF
EGI
$38.7K $17.43/SF
− OpEx
−$9.7K −$4.36/SF
NOI
$29.0K $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%
$580,680
Cap Rate 7%
$414,771
Cap Rate 9%
$322,600
Alternative Uses
Best Use
Office B
$414.8K
$362.9K – $483.9K
NOI $29,034 @ 7.0% cap · market cap 3.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$559.9K
$489.9K – $653.2K
NOI $39,194 @ 7.0% cap · market cap 4.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
466
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 building - Newly constructed office building with a long-term lease in place.
Where is this office building located?
The property is located at 6927 82nd St Lubbock, TX.
What is the asking price?
The asking price for this property is $796,500.
What are key features of this property?
This property features: Immediate and stable cash flow from a newly constructed, single‑tenant office building.; NNN (Triple Net) lease structure, with tenant responsible for taxes, insurance, and maintenance.; 5‑year lease in place, expiring in 2030, with a 3‑year renewal option.
