High-Visibility Office Building in
For Sale
$2,300,000
7727 Quaker Ave, Lubbock, TX 79424
8,200 SF office building, prime location, investment or owner-occupant.
Property Size8,200 SF
Lot Size0.78 Acres
Price / SF$280.49
Days on Market560
Property Features for 7727 Quaker Ave
General Information
Standard status
Active
Size
8,200 SF
Lot size
0.78 Acres
Taxes and HOA fees
Annual Taxes
$37,030
Listing Agency:
Progressive Properties
(806) 559-9191
Listed By:
Jaden Timmons · License #0542831
(806) 559-9191
Source:
Exprealty
Added: Jan 28, 2025
Changed: Aug 8
Last Checked: Aug 8 at 6:02AM
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 Progressive Properties
Investment Insights
Based on property information with market context.
This 8,200-square-foot office building presents an investment or owner-occupant opportunity. It is situated at the intersection of 78th Street and Quaker Avenue, a busy corridor in Lubbock. The property is currently 50% occupied by Cobb Fendley, leaving over 4,000 square feet of flexible office space available for immediate use or lease. The location features ample parking and high visibility in a high-traffic area. This property may suit a growing business seeking a prominent location or an investor looking to maximize rental income.
Key Highlights
- Prime location at the intersection of 78th Street and Quaker Avenue, Lubbock's busiest corridor.
- Significant owner‑occupant opportunity with over 4,000 square feet of flexible office space available.
- Investment potential with existing tenant (Cobb Fendley) occupying 50% of the building.
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
$107,195
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
4.66%
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%
$2,143,900
$2.1M
Cap Rate 7%
$1,531,357
$1.5M
Cap Rate 9%
$1,191,056
$1.2M
Market Conditions
NOI Build-Up for 8,200 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
$172.2K $21.00/SF
− Vacancy
−$29.3K −$3.57/SF
EGI
$142.9K $17.43/SF
− OpEx
−$35.7K −$4.36/SF
NOI
$107.2K $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%
$2,143,900
Cap Rate 7%
$1,531,357
Cap Rate 9%
$1,191,056
Alternative Uses
Best Use
Office B
$1.53M
$1.34M – $1.79M
NOI $107,195 @ 7.0% cap · market cap 4.66%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.07M
$1.81M – $2.41M
NOI $144,707 @ 7.0% cap · market cap 6.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,121
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
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 building - 8,200 SF office building, prime location, investment or owner-occupant.
Where is this office building located?
The property is located at 7727 Quaker Ave Lubbock, TX.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: Prime location at the intersection of 78th Street and Quaker Avenue, Lubbock's busiest corridor.; Significant owner‑occupant opportunity with over 4,000 square feet of flexible office space available.; Investment potential with existing tenant (Cobb Fendley) occupying 50% of the building.
