Office and Retail
7402 University Ave Lubbock, TX 79423
For Sale
Contact for pricing
Office and retail property with exceptional visibility and easy access near major national retailers.
Property Size3,085 SF
Price / SF$155.59
Days on Market148
Property Features for 7402 University Ave
General Information
- Standard status
- Active
- Size
- 3,085 SF
- Property subtype
- Office, Retail
Building Details
- Year Built
- 1977
Listing Agency:
McDougal Realtors
(806) 797-3162
Listed By:
Carrigan Williams · License #TX 773761
Source:
Crexi
Added: Feb 26
Changed: Jul 22
Last Checked: Jul 23 at 3:47PM
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 McDougal Realtors
Investment Insights
Based on property information with market context.
This 3,085 SF office/retail property is located just off South Loop 289 and designed for customer-facing use with parking. The space is positioned for strong visibility and easy access, supporting both office and retail operations.
The site sits next to Target and in proximity to a large electric vehicle charging station, with surrounding national retailers contributing to a steady flow of daily traffic.
The property is being offered for sale and presents an opportunity for either an owner-user or an investor looking for high-exposure frontage along a primary retail corridor.
The site sits next to Target and in proximity to a large electric vehicle charging station, with surrounding national retailers contributing to a steady flow of daily traffic.
The property is being offered for sale and presents an opportunity for either an owner-user or an investor looking for high-exposure frontage along a primary retail corridor.
Key Highlights
- 3,085 SF office/retail property built in 1977
- Located just off South Loop 289 with easy access
- Positioned next to Target
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $64.8k | $21.00 |
| − Vacancy | −$11.0k | −$3.57 |
| EGI | $53.8k | $17.43 |
| − OpEx | −$13.4k | −$4.36 |
| NOI | $40.3k | $13.07 |
3,085 SF · lease $21.00/SF/yr · vacancy 17.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$576.1K
$504.1K – $672.2K
NOI $40,329 @ 7.0% cap · market cap 8.40%
Second Best
Retail
$425.7K
$372.5K – $496.7K
NOI $29,801 @ 7.0% cap · market cap 6.21%
Theoretical Best
Office A
$777.7K
$680.5K – $907.4K
NOI $54,442 @ 7.0% cap · market cap 11.34%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Farmers Insurance - Joe ...
Insurance Agency
Farmers Insurance
Insurance Agency
Direct Health Care, ...
Home Health Care Service
FAQs
What type of property is this?
Office units - Office and retail property with exceptional visibility and easy access near major national retailers.
Where is this office units located?
The property is located at 7402 University Ave Lubbock, TX.
What is the asking price?
The asking price for this property is $480,000.
What are key features of this property?
This property features: 3,085 SF office/retail property built in 1977; Located just off South Loop 289 with easy access; Positioned next to Target
