New Freestanding Office
For Sale
Contact for pricing
82nd Street, Lubbock, TX
New office building for lease or purchase on West 82nd.
Property Size2,231 SF
Lot Size1.58 Acres
Price / SF$300
Days on Market366
Property Features for 82nd Street
General Information
Standard status
Active
Size
2,231 SF
Lot size
1.58 Acres
Property subtype
OFFICE
Lease Type
NNN
Properties For Sale
at 82nd Street Contact us- Size
- 2,230 SF
- Type
- OFFICE
- Lease Type
- NNN
- Availability
- AVAILABLE
6923 82nd Street
Available for lease or sale, this newly constructed free-standing office building...
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Contact us
- Size
- 2,231 SF
- Type
- OFFICE
- Lease Type
- NNN
- Availability
- AVAILABLE
6925 82nd Street
This brand-new, free-standing office building on West 82nd Street is now available...
show more
Contact us
Listing Agency:
WestMark Commercial | TCN Worldwide
(806) 794-3300
Listed By:
Karen Higgins, CCIM · License ##0331521-B
(806) 781-3875
Source:
Moodyscre
Added: Sep 2, 2025
Changed: Aug 27
Last Checked: Sep 2 at 12:09AM
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 WestMark Commercial | TCN Worldwide
Investment Insights
Based on property information with market context.
A new, freestanding office building located on West 82nd Street is available for lease or purchase. The property features a floor plan with 7 private offices, including 2 executive offices. As a new construction property, it offers modern finishes and curb appeal. The building is suitable for an owner-user or tenant seeking a turnkey office in a growing professional corridor. The property has a size of 2231 square feet.
Key Highlights
- Brand‑new, free‑standing office building.
- Turnkey office space in a growing professional corridor.
- Includes 7 private offices, with 2 executive offices.
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
$29,165
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
4.36%
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%
$583,300
$583.3K
Cap Rate 7%
$416,643
$416.6K
Cap Rate 9%
$324,056
$324.1K
Market Conditions
NOI Build-Up for 2,231 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
$46.9K $21.00/SF
− Vacancy
−$8.0K −$3.57/SF
EGI
$38.9K $17.43/SF
− OpEx
−$9.7K −$4.36/SF
NOI
$29.2K $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%
$583,300
Cap Rate 7%
$416,643
Cap Rate 9%
$324,056
Alternative Uses
Best Use
Office B
$416.6K
$364.6K – $486.1K
NOI $29,165 @ 7.0% cap · market cap 4.36%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$562.4K
$492.1K – $656.2K
NOI $39,371 @ 7.0% cap · market cap 5.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
216
Businesses Nearby
Explore this area
Business Placement
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 - New office building for lease or purchase on West 82nd.
Where is this office building located?
The property is located at 82nd Street Lubbock, TX.
What is the asking price?
The asking price for this property is $669,300.
What are key features of this property?
This property features: Brand‑new, free‑standing office building.; Turnkey office space in a growing professional corridor.; Includes **7 private offices, with 2 executive offices.**
