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    The Largest CRE Database in the US with Over 1 Million Listings

    3309 67Th St Lubbock, TX 79413

    Sponsored
    For Lease
    $24 SF/Yr ($18,665 /Mo)

    Lubbock Office Space: 8 Suites Available

    Lot size:
    8,974 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    426
    Indiana Plaza West offers 8 available office suites ranging from 140 to 250 square feet, perfect for businesses of all sizes. This Class B office building, totaling 8,974 square feet, is situated on a 0.95-acre lot in Lubbock County and enjoys a convenient location near the South Loop 289, providing easy access to Lubbock's commercial center. Built in 1973 and renovated in 2016, the building offers a blend of classic charm and modern updates. Currently, 2,801 square feet of space is available for lease. The multiple tenancy structure provides a diverse and dynamic work environment. The property's central location offers excellent accessibility and visibility, making it an ideal choice for businesses seeking a thriving and well-connected location. This is a fantastic opportunity to establish or expand your business in a prime Lubbock location. The building's convenient access to South Loop 289 ensures effortless commuting for employees and clients alike. The available suites provide a comfortable and productive workspace, suitable for startups, freelancers, or established businesses looking to expand their footprint. The combination of a desirable location, recent renovations, and a range of suite sizes makes Indiana Plaza West an attractive option for businesses seeking a well-maintained and conveniently located office space in Lubbock, Texas.

    Property Features for 3309 67Th St

    General Information

    Property type
    Office Properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    8,974 SF
    Class
    B
    Total Rate
    18665.92

    Building Details

    Year Built/Renovated
    1973/2016

    Spaces For Lease

    at 3309 67Th St, Lubbock, TX 79413 Contact us
    Unit Suite 2

    $34 /Mo

    Size
    173 SF
    Contact us
    Unit Suite 4

    $24 /Mo

    Size
    250 SF
    Contact us
    Unit Suite 10

    $42 /Mo

    Size
    140 SF
    Contact us
    Unit Suite 11

    $36 /Mo

    Size
    161 SF
    Contact us
    Unit Suite 12

    $27 /Mo

    Size
    224 SF
    Contact us
    Unit Suite 14

    $31 /Mo

    Size
    192 SF
    Contact us
    Unit Suite 24

    $36 /Mo

    Size
    161 SF
    Contact us
    Unit Suite 26

    $24 /Mo

    Size
    250 SF
    Contact us
    Show more

    We can help!

    Listing Contact
    Carrigan Williams
    Carrigan Williams

    Learn more

    Property Insight Report

    HighLights

    • 8,974 SF Traditional Office building in Lubbock County.
    • Multiple tenancies available, with 2,801 SF currently vacant.
    • Individual office spaces ranging from 140 SF to 250 SF are available.
    • Located near the South Loop 289 for easy commuting.
    • Class B building, constructed in 1973 and renovated in 2016.
    • 0.95 acres of land.
    Property Profile Location Intelligence

    Current Use by Public Records

    Mcdonald Wilki Judith Psychotherapist Lincoln Financial Advisors Financial Advisor Solutions Only Counseling Counselor Massage by Abby Alternative Medicine Practice

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lubbock
    County
    Lubbock
    State
    Texas
    Longitude
    -101.8868107
    Latitude
    33.533125

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      Lubbock Office Space Available

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      South Lubbock Office Building For Lease

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    FAQs

    What type of property is this?
    Office Property / Space - Lubbock Office Space: 8 Suites Available
    Where is this office property / space located?
    The property is located at 3309 67Th St Lubbock, TX.
    What is the lease rate?
    The lease rate is $24-$42 SF/Yr.
    What are key features of this property?
    This property features: 8,974 SF Traditional Office building in Lubbock County.; Multiple tenancies available, with 2,801 SF currently vacant.; Individual office spaces ranging from 140 SF to 250 SF are available.
    (806) 797-3162
    Request Owner's contact information
    3309 67Th St Lubbock, TX 79413
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    Lubbock, TX 79413
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    3309 67Th St Lubbock, TX 79413
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    We can help!
    Listing Contact
    Carrigan Williams
    Carrigan Williams
    Real Estate License ID: 773761
    (806) 797-3162
    Learn more
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