New Construction Mixed-Use
For Sale
$3,000,000
8333 Upland Ave, Lubbock, TX 79424
Leased office and retail space with staggered lease expirations extending through 2032.
Property Size7,414 SF
Price / SF$404.64
Days on Market94
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
Listed By:
Kelsey Zickefoose, MBA, CCIM · License #TX #724914-SA
(806) 696-3863
Source:
Westmarkcommercial
Added: Aug 1
Changed: Nov 1
Last Checked: Nov 1 at 2:43AM
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
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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
Estimated NOI and Cap Rate
NOI / Yr
$97,587
Cap Rate
3.25%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,951,740
$2.0M
Cap Rate 7%
$1,394,100
$1.4M
Cap Rate 9%
$1,084,300
$1.1M
Market Conditions
NOI Build-Up for 7,414 SF
Gross rent
$173.5K $23.40/SF
− Vacancy
−$17.3K −$2.34/SF
EGI
$156.1K $21.06/SF
− OpEx
−$58.6K −$7.90/SF
NOI
$97.6K $13.16/SF
Area
Lubbock, TX
Vacancy
10.00%
Lease Rate
$23.40 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,951,740
Cap Rate 7%
$1,394,100
Cap Rate 9%
$1,084,300
Alternative Uses
Best Use
Mixed Use
$1.39M
$1.22M – $1.63M
NOI $97,587 @ 7.0% cap · market cap 3.25%
Second Best
Office B
$1.38M
$1.21M – $1.62M
NOI $96,920 @ 7.0% cap · market cap 3.23%
Theoretical Best
Office A
$1.87M
$1.64M – $2.18M
NOI $130,836 @ 7.0% cap · market cap 4.36%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
369
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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 $3,000,000.
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
