Office and Retail
For Sale
Contact for pricing
7402 University Ave, Lubbock, TX 79423
Office and retail property with exceptional visibility and easy access near major national retailers.
Property Size3,085 SF
Price / SF$155.59
Days on Market244
Property Features for 7402 University Ave
General Information
Standard status
Active
Size
3,085 SF
Property subtype
Office, Retail
Zoning
Auto-Urban Commercial- AC
Investment Type
Owner/User
Building Details
Year Built
1977
Year Renovated
2018
Listing Agency:
McDougal Realtors
Listed By:
Carrigan Williams · License #TX 773761
(806) 215-7023
Source:
Crexi
Added: Feb 26
Changed: Oct 26
Last Checked: Oct 28 at 6:36AM
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
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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
Estimated NOI and Cap Rate
NOI / Yr
$40,329
Cap Rate
8.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$806,580
$806.6K
Cap Rate 7%
$576,129
$576.1K
Cap Rate 9%
$448,100
$448.1K
Market Conditions
NOI Build-Up for 3,085 SF
Gross rent
$64.8K $21.00/SF
− Vacancy
−$11.0K −$3.57/SF
EGI
$53.8K $17.43/SF
− OpEx
−$13.4K −$4.36/SF
NOI
$40.3K $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 Rate 5%
$806,580
Cap Rate 7%
$576,129
Cap Rate 9%
$448,100
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 authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
624
Businesses Nearby
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Business Placement
Demographics for 79423, TX
42,311
Population
18,463
Households
2.3
Avg Household Size
35
Median Age
38%
College-Educated
94%
High-School Grad
64.2 sq mi
ZIP Area
659
Density / Sq Mi
$82,906
Median Household Income
$45,520
Median Earnings
$1,284
Median Rent
$222,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - Office and retail property with exceptional visibility and easy access near major national retailers.
Where is this office unit 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
