Wolfforth Garden Offices For
For Sale
Contact for pricing
6905 Alcove Ave, Wolfforth, TX 79382
Garden offices in growing Wolfforth, TX with investment upside.
Property Size4,550 SF
Price / SF$249.89
Days on Market961
Property Features for 6905 Alcove Ave
General Information
Standard status
Active
Size
4,550 SF
Class
A
Property subtype
Office, Mixed Use
Lease Type
NNN
Building Details
Year Built
2024
Buildings
1
Stories
1
Tenancy
Multi
Listing Agency:
NAI Wheelhouse
Listed By:
Joe Magby
(806) 200-3244
Source:
Crexi
Added: Feb 28, 2024
Changed: Oct 15
Last Checked: Oct 14 at 8:31PM
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
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Investment Insights
Based on property information with market context.
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.
Key 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.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$59,480
Cap Rate
5.23%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,189,600
$1.2M
Cap Rate 7%
$849,714
$849.7K
Cap Rate 9%
$660,889
$660.9K
Market Conditions
NOI Build-Up for 4,550 SF
Gross rent
$95.6K $21.00/SF
− Vacancy
−$16.2K −$3.57/SF
EGI
$79.3K $17.43/SF
− OpEx
−$19.8K −$4.36/SF
NOI
$59.5K $13.07/SF
Area
Lubbock County, 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%
$1,189,600
Cap Rate 7%
$849,714
Cap Rate 9%
$660,889
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 authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
200
Businesses Nearby
Explore this area
Business Placement
Demographics for 79382, TX
8,449
Population
3,649
Households
2.3
Avg Household Size
36
Median Age
28%
College-Educated
92%
High-School Grad
51.1 sq mi
ZIP Area
165
Density / Sq Mi
$80,625
Median Household Income
$47,419
Median Earnings
$1,349
Median Rent
$245,100
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
Frequently Asked Questions
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.
