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8341 Upland Ave, Lubbock, TX 79424
Office building with 3,250 square feet available for purchase.
Property Size3,250 SF
Price / SF$200
Days on Market741
Property Features for 8341 Upland Ave
General Information
Standard status
Active
Size
3,250 SF
Class
A
Property subtype
Office, Mixed Use
Zoning
O
Building Details
Year Built
2023
Buildings
1
Stories
1
Listing Agency:
Bill Young Real Estate
Listed By:
Bill Young · License #TX364208
(806) 776-1270
Source:
Crexi
Added: Sep 27, 2024
Changed: Sep 19
Last Checked: Oct 7 at 11:02AM
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 Bill Young Real Estate
Investment Insights
Based on property information with market context.
This office building, constructed in 2023, offers approximately 3,250 square feet of space. The property is zoned O (Office District).
Key Highlights
- New Construction: Built in 2023
- Office District Zoning (O)
- Sales Price: $750,000.00
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$42,486
Cap Rate
6.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$849,720
$849.7K
Cap Rate 7%
$606,943
$606.9K
Cap Rate 9%
$472,067
$472.1K
Market Conditions
NOI Build-Up for 3,250 SF
Gross rent
$68.3K $21.00/SF
− Vacancy
−$11.6K −$3.57/SF
EGI
$56.6K $17.43/SF
− OpEx
−$14.2K −$4.36/SF
NOI
$42.5K $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 Rate 5%
$849,720
Cap Rate 7%
$606,943
Cap Rate 9%
$472,067
Alternative Uses
Best Use
Office B
$606.9K
$531.1K – $708.1K
NOI $42,486 @ 7.0% cap · market cap 6.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$819.3K
$716.9K – $955.9K
NOI $57,353 @ 7.0% cap · market cap 8.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Office building with 3,250 square feet available for purchase.
Where is this office building located?
The property is located at 8341 Upland Ave Lubbock, TX.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: New Construction: Built in 2023; Office District Zoning (O); Sales Price: $750,000.00
