Partially Occupied Office
For Sale
$2,300,000
7727 Quaker Avenue, Lubbock, TX 79424
COMMERCIAL - Lubbock, TX
Property Size8,200 SF
Lot Size0.78 Acres
Price / SF$280.49
Days on Market594
Property Features for 7727 Quaker Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
7
Standard status
Active
APN
R37963
Lot size
0.78 Acres
Taxes and HOA fees
Tax Description
KINGS PARK TR E
Tax Annual Amount
37030
Legal Description
KINGS PARK TR E
Listing Agency:
Progressive Properties
(806) 794-7777
Listed By:
Brandon Tyler · License #0542831
(806) 239-0962
Added: Jan 7, 2025
Changed: Aug 4
Last Checked: Aug 24 at 11:06AM
MLS# 202500271
Copyright © 2026 Lubbock Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 8,200-square-foot office building is situated on a 0.78-acre site at 7727 Quaker Avenue in Lubbock. Cobb Fendley currently occupies 50% of the building, while more than 4,000 square feet remains available for use or lease. The property includes ample parking and offers a partially occupied configuration for an owner-user or investor.
The building stands at the intersection of 78th Street and Quaker Avenue, placing it in a highly traveled commercial area of Lubbock. Its prominent intersection position provides strong exposure for businesses seeking an established office setting with existing occupancy and additional usable space.
The building stands at the intersection of 78th Street and Quaker Avenue, placing it in a highly traveled commercial area of Lubbock. Its prominent intersection position provides strong exposure for businesses seeking an established office setting with existing occupancy and additional usable space.
Key Highlights
- 8,200‑square‑foot office building on a 0.78‑acre site
- 50% occupied by Cobb Fendley
- More than 4,000 square feet available for use or lease
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
Lease Details
50%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,033
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Existing occupancy and additional office space support owner occupancy or leasing.
Where is this office building located?
The property is located at 7727 Quaker Avenue 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: 8,200‑square‑foot office building on a 0.78‑acre site; 50% occupied by Cobb Fendley; More than 4,000 square feet available for use or lease
