11931 Frankford AveLubbock, TX 79424

Property Details for 11931 Frankford Ave

Year built

2019

Lot size

0.37 AC

Property size (Sq ft)

4,386 SF

Property type

Office properties

Property subtype

Office buildings

APN

R343795

APU

R343795

Description

This exceptional 4,386 square foot Class A medical office building, located at 11931 Frankford Avenue in Lubbock, Texas, presents a unique opportunity. Currently configured as a single-tenant medical facility, it boasts a welcoming design featuring a clean garden office aesthetic, attractive landscaping, and a covered entry. The interior includes high ceilings, a spacious reception area, fourteen individual offices, three bathrooms, a convenient kitchenette, and a large conference room. The property is ideally suited for a second-generation medical user or a professional office seeking a move-in ready space. The current tenant will vacate by the end of 2022. This prime southwest Lubbock location offers significant advantages. Further enhancing this opportunity are an adjacent available shell space office building and an additional 1.44 acres of undeveloped land, providing potential for build-to-suit development. The property is situated in Lubbock County, Texas, zip code 79424.

• CAP approach

  CAP return

  Valuation

  6%

  $650,702

  6.5%

  $600,648

  7%

  $557,745

• Comparable approach

  Method

  Valuation

  Relative Method

  $391,302

  Geo Method

  $527,724

• Alternative Use

  Use

  Valuation

  Residential

  $744,804

  Hospitality

  $682,236

  Educational

  $567,612

  Medical

  $587,133

  Retail

  $882,953

Location Insight

City

Lubbock

County

Lubbock

State

Texas

Latitude

33.4849

Longitude

-101.939

CBSA code

31180

CBSA name

LUBBOCK, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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