Office for Sale in Lubbock, TX

  • Price: $2.5M
  • Listing type: For sale
  • Asset type: Office
  • Location: Lubbock, TX 79424
  • Size: 6,630 SF
  • Year built: 2015

Description

NNN investment opportunity in SW Lubbock with a new seven-year lease (Covenant Medical Center). This 6,630 SF medical urgent care, previously licensed as a Texas free-standing emergency room, boasts versatile usage options, including urgent care medical facilities, outpatient surgery, physical therapy, chemotherapy treatment, and more. The property enjoys high visibility with about 33,000 (VPD), surrounded by retail centers, restaurants, and offices. This property has a land lease with 30 years remaining on the lease. Financials on p.2 of flyer; 7.2% cap rate on average NOI over 7 years. Building SF: 6630 | Year Built: 2015 | Listing Type: FOR SALE

Market Context

This office in Lubbock, TX is listed for sale at $2,450,000 across 6,630 SF ($370/SF). It is offered at an approximate 7.2% capitalization rate, a key benchmark for income-producing office assets. The building dates to 2015. It has been on the market for 39 days. Compare it against other office listings for sale in Lubbock, TX — <a href="/search/sale/office/texas/lubbock">view the full market</a>.

Unified Estimate

Medium Confidence

$321.64/SF – $338.08/SF

Mid: $323.60/SF

Total estimate for 6,630 SF: $2,145,468

Rate-first confidence-weighted blend with cost-of-business adjustment.

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