6,000 SF Office/Warehouse For
For Sale
$900,000
7703 69th Street, Lubbock, TX 79407
Office and warehouse property with fenced stackyard in West Business Park.
Property Size6,000 SF
Price / SF$150
Days on Market275
Property Features for 7703 69th Street
General Information
Standard status
Active
Size
6,000 SF
Class
A
Property subtype
Office
Building Details
Building Size
6,000 SF
Year Built
2024
Listing Agency:
NAI Wheelhouse
(806) 200-3244
Listed By:
Joe Magby
(806) 200-3244
Source:
Naiglobal
Added: Nov 21, 2025
Changed: Aug 8
Last Checked: Aug 23 at 2:45AM
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 NAI Wheelhouse
Investment Insights
Based on property information with market context.
This 6,000 SF property includes 6 offices, 2 restrooms, a reception/waiting area, a breakroom, and a conference room. The warehouse component offers 3,650 SF of space with 15’ overhead doors. Additionally, the property features 19,180 SF of fenced-in stackyard. Located in West Business Park, a new business park under development near Marsha Sharp Freeway, the property benefits from its accessible location and proximity to the surrounding region. The property is suitable for office and warehouse use.
Key Highlights
- 3,650 SF warehouse featuring 15’ overhead doors
- 19,180 SF fenced stackyard
- Excellent location near Marsha Sharp Freeway for easy regional access
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
$82,084
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
9.12%
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%
$1,641,680
$1.6M
Cap Rate 7%
$1,172,629
$1.2M
Cap Rate 9%
$912,044
$912.0K
Market Conditions
NOI Build-Up for 6,000 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
$104.4K $17.40/SF
− Vacancy
−$7.8K −$1.31/SF
EGI
$96.6K $16.10/SF
− OpEx
−$14.5K −$2.41/SF
NOI
$82.1K $13.68/SF
Area
Lubbock, TX
Vacancy
7.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
15.00%
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%
$1,641,680
Cap Rate 7%
$1,172,629
Cap Rate 9%
$912,044
Alternative Uses
Best Use
Warehouse
$1.17M
$1.03M – $1.37M
NOI $82,084 @ 7.0% cap · market cap 9.12%
Second Best
Office B
$1.12M
$980.4K – $1.31M
NOI $78,435 @ 7.0% cap · market cap 8.72%
Theoretical Best
Office A
$1.51M
$1.32M – $1.76M
NOI $105,883 @ 7.0% cap · market cap 11.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
399
Businesses Nearby
Explore this area
Business Placement
Demographics for 79407, TX
23,208
Population
11,817
Households
2
Avg Household Size
32
Median Age
41%
College-Educated
92%
High-School Grad
75.9 sq mi
ZIP Area
306
Density / Sq Mi
$64,778
Median Household Income
$38,212
Median Earnings
$1,131
Median Rent
$200,700
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 units - Office and warehouse property with fenced stackyard in West Business Park.
Where is this office units located?
The property is located at 7703 69th Street Lubbock, TX.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: 3,650 SF warehouse featuring 15’ overhead doors; 19,180 SF fenced stackyard; Excellent location near Marsha Sharp Freeway for easy regional access
