Move-In-Ready Office Suite with
For Sale
$540,000
Pending
8009 Genoa Avenue, Lubbock, TX 79424
COMMERCIAL - Lubbock, TX
Property Size2,457 SF
Lot Size0.39 Acres
Days on Market69
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
Building Details
Year built
2019
Listing Agency:
ALL Real Estate, LLC
(806) 543-6095
Listed By:
Amy Cox · License #0667992
(806) 543-6095
Added: Jun 16
Changed: Aug 4
Last Checked: Aug 23 at 3:06PM
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 office suite offers a welcoming reception area, private offices, a dedicated conference room, an on-site restroom, and ample storage. Central heating and central air are in place, supporting year-round comfort. The property was built in 2019 and includes parking lot parking.
The suite is leased through February 2027. At a size of 2,457 square feet on a 0.39-acre lot, it can be a practical fit for investors seeking defined near-term occupancy or future owner-occupants planning ahead.
Designed to support day-to-day business functions, the layout includes collaboration and client-facing space, along with private work areas and convenient on-site restroom access.
The suite is leased through February 2027. At a size of 2,457 square feet on a 0.39-acre lot, it can be a practical fit for investors seeking defined near-term occupancy or future owner-occupants planning ahead.
Designed to support day-to-day business functions, the layout includes collaboration and client-facing space, along with private work areas and convenient on-site restroom access.
Key Highlights
- 2,457 SF office suite on a 0.39‑acre lot
- Reception area plus private offices and a dedicated conference room
- On‑site restroom and ample storage
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
Property Profile
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Turnkey business
Opportunity
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
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 units - Office suite with central HVAC, reception area, private offices, a conference room, and on-site parking lot.
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 SF office suite on a 0.39‑acre lot; Reception area plus private offices and a dedicated conference room; On‑site restroom and ample storage
