Modern Office Unit with Reception
For Sale
$540,000
Pending
8009 Genoa Avenue, Lubbock, TX 79424
Commercial Sale, Lubbock, TX
Property Size2,457 SF
Lot Size0.39 Acres
Days on Market95
Property Features for 8009 Genoa Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Parking Lot
Elementary school district
Frenship ISD
Middle school district
Frenship ISD
High school district
Frenship ISD
Directions
The office building is located off 82nd Street, just west of Frankford.
Subdivision
7
Standard status
Pending
APN
R333452
Size
2,457 SF
Lot size
0.39 Acres
Taxes and HOA fees
Tax Description
Pheasant Run United Tr B2a
Tax Annual Amount
8339
Legal Description
Pheasant Run United Tr B2a
Utilities
Heating system
Central
Cooling system
Central Air
Amenities
reception area
private offices
conference room
restroom
storage
Building Details
Year built
2019
Listing Agency:
ALL Real Estate, LLC
(806) 543-6095
Listed By:
Amy Cox · License #0667992
(806) 939-4201
Added: Jun 16
Changed: Sep 15
Last Checked: Sep 18 at 11:06PM
MLS# 202608261
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 2,457-square-foot office unit at 8009 Genoa Avenue provides a professional layout with a reception area, private offices, conference room, on-site restroom, and dedicated storage. Constructed in 2019, the property includes central heating and central air conditioning, with a parking lot serving the office.
The 0.39-acre property is located in Lubbock, Texas, near established neighborhoods, retail uses, and major thoroughfares. The suite is leased through February 2027, offering an existing tenancy for an investor or a future owner-occupant planning ahead.
The 0.39-acre property is located in Lubbock, Texas, near established neighborhoods, retail uses, and major thoroughfares. The suite is leased through February 2027, offering an existing tenancy for an investor or a future owner-occupant planning ahead.
Key Highlights
- 2,457‑square‑foot office unit on a 0.39‑acre property
- Reception area, private offices, conference room, restroom, and storage
- Leased through February 2027
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
$32,119
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
5.95%
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%
$642,380
$642.4K
Cap Rate 7%
$458,843
$458.8K
Cap Rate 9%
$356,878
$356.9K
Market Conditions
NOI Build-Up for 2,457 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
$51.6K $21.00/SF
− Vacancy
−$8.8K −$3.57/SF
EGI
$42.8K $17.43/SF
− OpEx
−$10.7K −$4.36/SF
NOI
$32.1K $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%
$642,380
Cap Rate 7%
$458,843
Cap Rate 9%
$356,878
Alternative Uses
Best Use
Office B
$458.8K
$401.5K – $535.3K
NOI $32,119 @ 7.0% cap · market cap 5.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$619.4K
$542.0K – $722.7K
NOI $43,359 @ 7.0% cap · market cap 8.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
423
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
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office units - Configured with reception, private offices, a conference room, restroom, and dedicated storage.
Where is this office units located?
The property is located at 8009 Genoa Avenue Lubbock, TX.
What is the asking price?
The asking price for this property is $540,000.
What are key features of this property?
This property features: 2,457‑square‑foot office unit on a 0.39‑acre property; Reception area, private offices, conference room, restroom, and storage; Leased through February 2027
