New Construction Mixed-Use
New
For Sale
$3,400,000
8333 Upland Ave, Lubbock, TX 79424
Leased office and retail space with staggered lease expirations extending through 2032.
Property Size7,414 SF
Price / SF$458.59
Days on Market4
Property Features for 8333 Upland Ave
General Information
Standard status
Active
Size
7,414 SF
Property subtype
Retail
Net Operating Income
$221,864
Financials
Asking Price
$3,400,000
Cap Rate
7%
Building Details
Building Size
7,414 SF
Year Built
2024
Tenancy
Multi
Listing Agency:
WestMark Commercial | TCN Worldwide
(806) 696-3863
Listed By:
Kelsey Zickefoose, MBA, CCIM · License #TX #724914-SA
Source:
Tcnworldwide
Added: Aug 1
Changed: Aug 2
Last Checked: Aug 3 at 3:31AM
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.
Completed in 2024, this 7,414 SF mixed-use property combines office and retail occupancy in a leased commercial asset. The tenant base includes established office and retail users, with lease terms expiring at different points through 2032. Both NNN and Base Year structures are represented, creating a varied lease framework across the property.
The property is located at 8333 Upland Ave in Lubbock, Texas. It is offered as a leased investment with an indicated capitalization rate close to 7.0%. The combination of retail and office components, along with staggered lease timing, provides a defined operating profile for an investor evaluating a newer commercial property.
The property is located at 8333 Upland Ave in Lubbock, Texas. It is offered as a leased investment with an indicated capitalization rate close to 7.0%. The combination of retail and office components, along with staggered lease timing, provides a defined operating profile for an investor evaluating a newer commercial property.
Key Highlights
- 7,414 SF mixed‑use property completed in 2024
- Established office and retail tenants occupy the property
- Lease expirations are staggered through 2032
Financial Insights For Mixed Use
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $173.5k | $23.40 |
| − Vacancy | −$17.3k | −$2.34 |
| EGI | $156.1k | $21.06 |
| − OpEx | −$58.6k | −$7.90 |
| NOI | $97.6k | $13.16 |
7,414 SF · lease $23.40/SF/yr · vacancy 10.00% · expense 37.50%
Alternative Uses
Best Use
Mixed Use
$1.39M
$1.22M – $1.63M
NOI $97,587 @ 7.0% cap · market cap 2.87%
Second Best
Office B
$1.38M
$1.21M – $1.62M
NOI $96,920 @ 7.0% cap · market cap 2.85%
Theoretical Best
Office A
$1.87M
$1.64M – $2.18M
NOI $130,836 @ 7.0% cap · market cap 3.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
47
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
Properties on Market for Mixed-use properties in Lubbock
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Leased office and retail space with staggered lease expirations extending through 2032.
Where is this mixed-use property located?
The property is located at 8333 Upland Ave Lubbock, TX.
What is the asking price?
The asking price for this property is $3,400,000.
What are key features of this property?
This property features: 7,414 SF mixed‑use property completed in 2024; Established office and retail tenants occupy the property; Lease expirations are staggered through 2032
