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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    4007 98Th St Lubbock, TX 79423

    • Commercial real estate
    • 4,873 SF
    For Sale
    View listing
    $1,461,900
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US83-3266717
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 4007 98Th St

    Property size
    4,873 SF
    Property type
    Commercial real estate

    Description

    This Class A, 4,873-square-foot executive office building in Lubbock, Texas, is available for sale at $1,461,900 ($300/SF). Located at 4007/4009 98th Street, 79423, this property boasts a desirable location near major retail and the new Loop 88. The duplex building features eight private offices, a breakroom, copy room, conference room, two restrooms, and ample storage. Currently vacant, this NNN-leased property presents a unique investment opportunity. While one side was previously leased for 60 months with escalators, the entire building is now available for immediate occupancy. The building is part of a new garden office development, offering a modern and efficient workspace. Its strategic location in Lubbock County provides excellent access to key amenities and transportation routes. This is an exceptional opportunity to acquire a high-quality, well-appointed executive office space in a thriving Texas market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Lubbock
    County
    Lubbock
    State
    Texas
    Longitude
    -101.8993558
    Latitude
    33.5052339

    Comparable in this City

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      Class A Office Building, Lubbock, TX

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    • $681,000
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      Lubbock Office Building: For Sale/Lease

      New Construction, 2270 SF Office Space
      13916 Indiana Ave, Lubbock, TX 79423
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    • Contact for pricing
      4,000 SF

      South Lubbock Medical Office

      1+ Acre Medical Office Building, Vacant
      12105 Indiana Ave, Lubbock, TX 79423
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    • $489,500
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      Freestanding Office Building on 74th

      Freestanding office building with drive-through access and abundant parking.
      2599 74Th St, Lubbock, TX 79423
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    • $900,648
      1.72 Acres

      Prime Lubbock Commercial Land

      1.7 Acres, Garden Office Zoning
      0 Quaker Ave, Lubbock, TX 79423
      View Details
    • Contact for pricing
      19,000 SF

      Times Square Executive Building, Lubbock

      Prime South Lubbock Office Building, For Sale
      2574 74Th St, Lubbock, TX 79423
      View Details

    Similar Nearby for Sale

    • $678,600
      2,262 SF

      Class A Office Building, Lubbock, TX

      New 2,262 SF Office, South Lubbock
      13918 Indiana Ave, Lubbock, TX 79423
      View Details
    • $681,000
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      Lubbock Office Building: For Sale/Lease

      New Construction, 2270 SF Office Space
      13916 Indiana Ave, Lubbock, TX 79423
      View Details
    • Contact for pricing
      4,000 SF

      South Lubbock Medical Office

      1+ Acre Medical Office Building, Vacant
      12105 Indiana Ave, Lubbock, TX 79423
      View Details
    • $489,500
      3 SF

      Freestanding Office Building on 74th

      Freestanding office building with drive-through access and abundant parking.
      2599 74Th St, Lubbock, TX 79423
      View Details
    • $900,648
      1.72 Acres

      Prime Lubbock Commercial Land

      1.7 Acres, Garden Office Zoning
      0 Quaker Ave, Lubbock, TX 79423
      View Details
    • Contact for pricing
      19,000 SF

      Times Square Executive Building, Lubbock

      Prime South Lubbock Office Building, For Sale
      2574 74Th St, Lubbock, TX 79423
      View Details

    Similar Nearby for Lease

    • $26 SF/Yr
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      Modern Lubbock Office Space

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    • $19 SF/Yr
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      Village Shopping Center: Lubbock, TX

      Retail & Office Space Available
      4414 82Nd St, Lubbock, TX 79423
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    • $22 SF/Yr
      3,869 SF

      South Lubbock Smart Office Building

      New construction, 3869 sq ft office space
      3204 140Th St, Lubbock, TX 79423
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    • $6 SF/Yr
      6,033 SF

      HQ Pyramid Plaza: Lubbock Office Space

      Flexible Offices, Lubbock, TX
      3223 Loop 289, Lubbock, TX 79423
      View Details
    • $21 SF/Yr
      2,270 SF

      Lubbock Office Building: For Sale/Lease

      New Construction, 2,270 sq ft Office
      13916 Indiana Ave, Lubbock, TX 79423
      View Details
    • $20 SF/Yr
      96,404 SF

      Pyramid Plaza Office Suites

      Lubbock, TX Office Space Available
      3223 Loop 289, Lubbock, TX 79423
      View Details
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    Lubbock, TX 79423
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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
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