Office Suite with 10 Private
For Sale
Contact for pricing
7710 Milwaukee Ave, Lubbock, TX 79424
Office space with 10 private offices, a conference room, and reception and break room areas, with an in-place lease.
Property Size3,811 SF
Price / SF$259.25
Days on Market345
Property Features for 7710 Milwaukee Ave
General Information
Standard status
Active
Size
3,811 SF
Property subtype
OFFICE
Building Details
Tenancy
Single
Listing Agency:
WestMark Commercial | TCN Worldwide
(806) 794-3300
Listed By:
Kelsey Zickefoose, MBA, CCIM · License ##724914-SA
(806) 696-3863
Source:
Moodyscre
Added: Oct 10, 2025
Changed: Sep 4
Last Checked: Sep 18 at 8:12AM
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.
Office suite offering a professional interior layout with 10 private offices, a conference room, two workspaces, plus a reception area and break room. The space is described as new construction and includes modern amenities intended for use by both employees and guests.
A lease is currently in place through March 1, 2026, providing continuity for an owner seeking occupied space. The property is identified as an office units offering at 7710 Milwaukee Ave in Lubbock, TX 79424.
For tenant- or owner-occupant consideration, the combination of private offices, a conference room, and shared common areas supports meetings, client-facing work, and day-to-day team operations within a compact office environment.
A lease is currently in place through March 1, 2026, providing continuity for an owner seeking occupied space. The property is identified as an office units offering at 7710 Milwaukee Ave in Lubbock, TX 79424.
For tenant- or owner-occupant consideration, the combination of private offices, a conference room, and shared common areas supports meetings, client-facing work, and day-to-day team operations within a compact office environment.
Key Highlights
- 10 private offices
- Conference room plus two workspaces
- Reception area and break room
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
$49,819
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
5.04%
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%
$996,380
$996.4K
Cap Rate 7%
$711,700
$711.7K
Cap Rate 9%
$553,544
$553.5K
Market Conditions
NOI Build-Up for 3,811 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
$80.0K $21.00/SF
− Vacancy
−$13.6K −$3.57/SF
EGI
$66.4K $17.43/SF
− OpEx
−$16.6K −$4.36/SF
NOI
$49.8K $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%
$996,380
Cap Rate 7%
$711,700
Cap Rate 9%
$553,544
Alternative Uses
Best Use
Office B
$711.7K
$622.7K – $830.3K
NOI $49,819 @ 7.0% cap · market cap 5.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$960.8K
$840.7K – $1.12M
NOI $67,253 @ 7.0% cap · market cap 6.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
653
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Office space with 10 private offices, a conference room, and reception and break room areas, with an in-place lease.
Where is this office units located?
The property is located at 7710 Milwaukee Ave Lubbock, TX.
What is the asking price?
The asking price for this property is $988,000.
What are key features of this property?
This property features: 10 private offices; Conference room plus two workspaces; Reception area and break room
