Listing Agency: Progressive Properties b***@ymail.com Show Phone

Listed By: Brandon Tyler · License #0542831 Show Phone

Added: Jan 7, 2025 Changed: Oct 2 Last Checked: Oct 16 at 3:06AM

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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.

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Investment Insights

Based on property information with market context.

This 8,200-square-foot office building is offered for sale with a partially occupied configuration. Cobb Fendley currently occupies 50% of the building, while more than 4,000 square feet remains available for immediate use or leasing. The layout provides a combination of existing occupancy and open office capacity within the same property.

The building sits at the intersection of 78th Street and Quaker Avenue in Lubbock, with visibility along a high-traffic commercial corridor. Ample parking is available on site, supporting both the occupied portion and the additional office area. The property is located in Lubbock County and carries a 79424 postal designation.

Key Highlights

• 8,200‑square‑foot office building offered for sale
• 50% currently occupied by Cobb Fendley
• More than 4,000 square feet available for immediate use or leasing

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$107,195

Cap Rate

4.66%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,143,900 $2.1M

Cap Rate 7%

$1,531,357 $1.5M

Cap Rate 9%

$1,191,056 $1.2M

Is this asking price fair?

Market Conditions

NOI Build-Up for 8,200 SF

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 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 (±1% cap)

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 (±1% cap)

NOI $144,707 @ 7.0% cap · market cap 6.29%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Cobb, Fendley & Associates, ... Engineering Consultant Mcclendon Sarah Employment Agency Metro Health Care Nursing Home Advanced Home Health Home Health Care Service Kelly Plasker, Realtor Real Estate Agency

Suggested Use

Top Pick Building Supply Big Box & Wholesale Store Restaurant Auto Repair Shop Auto Parts Store Law Firm

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

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Frequently Asked Questions

What type of property is this?

Office building - Partially occupied office property with additional capacity at the 78th Street and Quaker Avenue intersection.

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 offered for sale; 50% currently occupied by Cobb Fendley; More than 4,000 square feet available for immediate use or leasing