New Office Park in
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13920 Indiana Ave, Lubbock, TX 79423
New office building with modern, flexible space in South Lubbock.
Property Size2,232 SF
Price / SF$300
Days on Market603
Property Features for 13920 Indiana Ave
General Information
Standard status
Active
Size
2,232 SF
Property subtype
Office
Building Details
Year Built
2025
Listing Agency:
WestMark Commercial
(806) 777-8114
Listed By:
Kelsey Zickefoose · License #TX 0724914
Source:
Crexi
Added: Dec 10, 2024
Changed: Jul 6
Last Checked: Aug 5 at 5:06AM
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
Investment Insights
Based on property information with market context.
This newly constructed office building, located in South Lubbock, offers 2,232 square feet of modern, flexible space. The building is estimated to be completed in the summer of 2025. The layout includes 7 private offices suitable for individual work or team collaboration, a workroom/copy room, a breakroom, and two restrooms. Front and back door parking is available for convenient access. Situated in the rapidly growing area of South Lubbock, the office park provides easy access to key routes, enhancing business visibility.
Key Highlights
- Newly constructed office building (estimated completion summer 2025) in rapidly growing South Lubbock.
- 2,232 square feet of modern, flexible office space.
- Features 7 private offices suitable for individual or team work.**
Financial Insights For Office B
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 | $46.9k | $21.00 |
| − Vacancy | −$8.0k | −$3.57 |
| EGI | $38.9k | $17.43 |
| − OpEx | −$9.7k | −$4.36 |
| NOI | $29.2k | $13.07 |
2,232 SF · lease $21.00/SF/yr · vacancy 17.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$416.8K
$364.7K – $486.3K
NOI $29,178 @ 7.0% cap · market cap 4.36%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$562.7K
$492.4K – $656.5K
NOI $39,389 @ 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
1,233
Businesses Nearby
Explore this area
Business Placement
Demographics for 79423, TX
42,311
Population
18,463
Households
2.3
Avg Household Size
35
Median Age
38%
College-Educated
94%
High-School Grad
64.2 sq mi
ZIP Area
659
Density / Sq Mi
$82,906
Median Household Income
$45,520
Median Earnings
$1,284
Median Rent
$222,500
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 building - New office building with modern, flexible space in South Lubbock.
Where is this office building located?
The property is located at 13920 Indiana Ave Lubbock, TX.
What is the asking price?
The asking price for this property is $669,600.
What are key features of this property?
This property features: Newly constructed office building (estimated completion summer 2025) in rapidly growing South Lubbock.; 2,232 square feet of modern, flexible office space.; Features 7 private offices suitable for individual or team work.**
