Medical Office with Surgical
For Sale
Contact for pricing
7515 QUAKER AVE, Lubbock, TX 79424
Purpose-built layout includes treatment rooms, physician offices, and dedicated patient areas.
Property Size5,732 SF
Price / SF$331.47
Days on Market13
Property Features for 7515 QUAKER AVE
General Information
Standard status
Active
Size
5,732 SF
Class
A
Property subtype
Office
Zoning
HDR
Occupancy
100%
Investment Type
Owner/User
Building Details
Year Built
2013
Buildings
1
Units
1
Listing Agency:
Williams & Company Real Estate, LLC
(806) 777-1310
Listed By:
Dan Williams · License #TX-550528
Source:
Crexi
Added: Aug 12
Changed: Aug 22
Last Checked: Aug 23 at 2:09PM
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 Williams & Company Real Estate, LLC
Investment Insights
Based on property information with market context.
Built in 2013, this 5,732-square-foot medical office offers a specialized configuration with multiple exam and treatment rooms, dedicated surgical suites, private physician and administrative offices, a conference room, reception, and patient waiting areas. Abundant second-floor storage supports the building’s operational layout, while the interior was originally configured for dental practice use and includes high-end finishes. The floor plan can accommodate medical, dental, surgical, specialty healthcare, or professional office operations.
The property is positioned at the intersection of 76th Street and Quaker Avenue in South Lubbock, with access to Quaker Avenue, a primary north-south thoroughfare. The offering includes a one-half ownership interest in the parking lot across the street, adding 17 dedicated parking spaces to the on-site supply. The property is zoned HDR.
The property is positioned at the intersection of 76th Street and Quaker Avenue in South Lubbock, with access to Quaker Avenue, a primary north-south thoroughfare. The offering includes a one-half ownership interest in the parking lot across the street, adding 17 dedicated parking spaces to the on-site supply. The property is zoned HDR.
Key Highlights
- 5,732‑square‑foot medical office built in 2013
- Multiple exam and treatment rooms with dedicated surgical suites
- Private physician and administrative offices, conference room, reception, and patient waiting areas
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
$76,990
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
4.05%
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%
$1,539,800
$1.5M
Cap Rate 7%
$1,099,857
$1.1M
Cap Rate 9%
$855,444
$855.4K
Market Conditions
NOI Build-Up for 5,732 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
$141.0K $24.60/SF
− Vacancy
−$12.7K −$2.21/SF
EGI
$128.3K $22.39/SF
− OpEx
−$51.3K −$8.95/SF
NOI
$77.0K $13.43/SF
Area
Lubbock, TX
Vacancy
9.00%
Lease Rate
$24.60 /SF/Yr
Expense Ratio
40.00%
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%
$1,539,800
Cap Rate 7%
$1,099,857
Cap Rate 9%
$855,444
Alternative Uses
Best Use
Healthcare Medical
$1.10M
$962.4K – $1.28M
NOI $76,990 @ 7.0% cap · market cap 4.05%
Second Best
Office B
$1.07M
$936.7K – $1.25M
NOI $74,932 @ 7.0% cap · market cap 3.94%
Theoretical Best
Office A
$1.45M
$1.26M – $1.69M
NOI $101,154 @ 7.0% cap · market cap 5.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,185
Businesses Nearby
Balanced
Demand for This Use
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Purpose-built layout includes treatment rooms, physician offices, and dedicated patient areas.
Where is this medical office space located?
The property is located at 7515 QUAKER AVE Lubbock, TX.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: 5,732‑square‑foot medical office built in 2013; Multiple exam and treatment rooms with dedicated surgical suites; Private physician and administrative offices, conference room, reception, and patient waiting areas
