New Office Building with Private
New
For Sale
$669,600
6933 82nd St, Lubbock, TX 79424
Professional workspace with multiple enclosed offices, support rooms, and a dedicated break area.
Property Size2,232 SF
Price / SF$300
Days on Market4
Property Features for 6933 82nd St
General Information
Standard status
Active
Size
2,232 SF
Class
A
Property subtype
Office
Amenities
7 private offices
dedicated storage room
copy/workroom
break room
restrooms
Building Details
Building Size
2,232 SF
Year Built
2026
Buildings
1
Listing Agency:
WestMark Commercial
Listed By:
Karen Higgins, CCIM · License #TX #0331521-B
(806) 776-2833
Source:
Westmarkcommercial
Added: Sep 4
Last Checked: Sep 6 at 4:58AM
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.
Completed in 2026, this 2,232-square-foot office building provides a structured layout for professional operations. The interior includes 7 private offices along with a dedicated storage room, copy and workroom, break room, and restrooms. The configuration supports a range of individual work areas and shared support functions within one building.
Located at 6933 82nd St in Lubbock, Texas, the property is available for sale or lease. Its West 82nd Street setting places the office directly within an established commercial corridor.
Located at 6933 82nd St in Lubbock, Texas, the property is available for sale or lease. Its West 82nd Street setting places the office directly within an established commercial corridor.
Key Highlights
- 2,232 SF office building completed in 2026
- 7 private offices for enclosed work areas
- Dedicated storage room and copy/workroom
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
$29,178
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
4.36%
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%
$583,560
$583.6K
Cap Rate 7%
$416,829
$416.8K
Cap Rate 9%
$324,200
$324.2K
Market Conditions
NOI Build-Up for 2,232 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
$46.9K $21.00/SF
− Vacancy
−$8.0K −$3.57/SF
EGI
$38.9K $17.43/SF
− OpEx
−$9.7K −$4.36/SF
NOI
$29.2K $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%
$583,560
Cap Rate 7%
$416,829
Cap Rate 9%
$324,200
Alternative Uses
Best Use
Office B
$416.8K
$364.7K – $486.3K
NOI $29,178 @ 7.0% cap · market cap 4.36%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$562.7K
$492.4K – $656.5K
NOI $39,389 @ 7.0% cap · market cap 5.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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 - Professional workspace with multiple enclosed offices, support rooms, and a dedicated break area.
Where is this office building located?
The property is located at 6933 82nd St Lubbock, TX.
What is the asking price?
The asking price for this property is $669,600.
What are key features of this property?
This property features: 2,232 SF office building completed in 2026; 7 private offices for enclosed work areas; Dedicated storage room and copy/workroom
