Office Building with Vacant First
New
For Sale
$5,800,000
7101 82nd St, Lubbock, TX 79424
Owner-user configuration includes private offices, workstations, a breakroom, and on-site parking.
Property Size30,992 SF
Days on Market5
Property Features for 7101 82nd St
General Information
Standard status
Active
Size
30,992 SF
Class
A
Property subtype
Office
Additional Details
Furnished
Yes
Road Access
Yes
Amenities
large breakroom
Building Details
Building Size
30,992 SF
Listing Agency:
WestMark Commercial | TCN Worldwide
(806) 776-2833
Listed By:
Karen Higgins, CCIM · License #TX #0331521-B
Source:
Westmarkcommercial
Added: Aug 26
Changed: Aug 28
Last Checked: Aug 29 at 8:11AM
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 | TCN Worldwide
Investment Insights
Based on property information with market context.
The office building at 7101 82nd St includes 15,496 SF of vacant first-floor space configured with oversized private offices, multiple cubicle workstations, and a large breakroom. Furniture may remain in place, supporting immediate occupancy for an owner-user. Ample on-site parking serves employees and clients.
The property has frontage along 82nd Street in Lubbock, Texas. The second floor is leased, creating a building configuration with vacant first-floor office space and an occupied upper level.
The property has frontage along 82nd Street in Lubbock, Texas. The second floor is leased, creating a building configuration with vacant first-floor office space and an occupied upper level.
Key Highlights
- 15,496 SF of vacant first‑floor office space
- Oversized private offices and multiple cubicle workstations
- Large breakroom included on the first floor
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
$405,143
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
6.99%
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%
$8,102,860
$8.1M
Cap Rate 7%
$5,787,757
$5.8M
Cap Rate 9%
$4,501,589
$4.5M
Market Conditions
NOI Build-Up for 30,992 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
$650.8K $21.00/SF
− Vacancy
−$110.6K −$3.57/SF
EGI
$540.2K $17.43/SF
− OpEx
−$135.0K −$4.36/SF
NOI
$405.1K $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%
$8,102,860
Cap Rate 7%
$5,787,757
Cap Rate 9%
$4,501,589
Alternative Uses
Best Use
Office B
$5.79M
$5.06M – $6.75M
NOI $405,143 @ 7.0% cap · market cap 6.99%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.81M
$6.84M – $9.12M
NOI $546,922 @ 7.0% cap · market cap 9.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
391
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 - Owner-user configuration includes private offices, workstations, a breakroom, and on-site parking.
Where is this office building located?
The property is located at 7101 82nd St Lubbock, TX.
What is the asking price?
The asking price for this property is $5,800,000.
What are key features of this property?
This property features: 15,496 SF of vacant first‑floor office space; Oversized private offices and multiple cubicle workstations; Large breakroom included on the first floor
