Wolfforth Garden Offices For
6905 Alcove Ave, Wolfforth, TX 79382
Garden offices in growing Wolfforth, TX with investment upside.
Type:Office
Property size:
4,550 SFPrice / SF:
$249/SF- Added:
- Feb 28, 2024
- Days on Market:
- 823
- Last Refresh:
- May 12 at 8:29 pm
Property Features for 6905 Alcove Ave
General Information
- Standard status
- Active
- Size
- 4,550 SF
- Property subtype
- Office
Building Details
- Year Built
- 2024
Listing agent Joe Magby
Listing office NAI Wheelhouse
Listing date Feb 28, 2024
Source Crexi
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 NAI Wheelhouse
HighLights
- Value‑add opportunity with vacant Suite 100, perfect for owner‑user.
- $39,600 Net Operating Income (NOI) from leased Suite 200.
- Located in the brand new West Business Park Development.
- Easy access to Marsha Sharp Freeway.
- Modern finishes and abundant natural light.
- Flexible layout suitable for various businesses.
Overview
Located on the edge of Lubbock in rapidly growing Wolfforth, these garden offices are part of the new West Business Park Development. The property offers convenient access to and from Marsha Sharp Freeway and is situated near several new residential developments. The offices feature modern finishes, abundant natural light, and a flexible layout, creating a professional environment suitable for various businesses. The property size is 4,550 square feet. Suite 200 is currently leased, generating $39,600 net operating income. Suite 100 is vacant, presenting a value-add or owner-user opportunity.
Local 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 | $95.6k | $21.00 |
| − Vacancy | −$16.2k | −$3.57 |
| EGI | $79.3k | $17.43 |
| − OpEx | −$19.8k | −$4.36 |
| NOI | $59.5k | $13.07 |
4,550 SF · lease $21.00/SF/yr · vacancy 17.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$849.7K
$743.5K – $991.3K
NOI $59,480 @ 7.0% cap · market cap 5.23%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.15M
$1.00M – $1.34M
NOI $80,295 @ 7.0% cap · market cap 7.06%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Office buildings
Location Insight
- Map
- Local Demand
- City
- Wolfforth
- County
- Lubbock
- State
- Texas
- Longitude
- -101.9912466
- Latitude
- 33.5173196
Nearby Similar for Sale
FAQs
What type of property is this?
Office building - Garden offices in growing Wolfforth, TX with investment upside.
Where is this office building located?
The property is located at 6905 Alcove Ave Wolfforth, TX.
What is the asking price?
The asking price for this property is $1,137,000.
What are key features of this property?
This property features: Value‑add opportunity with vacant Suite 100, perfect for owner‑user.; $39,600 Net Operating Income (NOI) from leased Suite 200.; Located in the brand new West Business Park Development.
