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$ 1,150,000
Est. payment /mo
Active
3214 140th Street Lubbock, TX 79423
4,043 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Office
Listing Status Active
Purchase Type For Sale
Square Footage 4,043 sqft
Price per Sqft $284
MLS Listing ID 202600906
Year Built 2023
Annual Tax Amount $9,362
Lot Size 0.418 Acres
Acres 0.42
Property Sub-Type Office
Source Lubbock Association of REALTORS®
Property Description
Ideally located just off 140th & Indiana and minutes from Loop 88, this well-appointed office building sits in one of Lubbock's fastest-growing corridors, surrounded by new residential development, Lubbock-Cooper ISD, and key municipal services. The area's rapid expansion and strong demographics provide excellent long-term support for both investors and owner-users. The property features a highly efficient and functional layout, including 13 private offices, a large conference room, a welcoming reception area with front desk, two restrooms, and a kitchenette. The design supports a wide range of uses including medical, professional, and service-based businesses, while also allowing flexibility for multi-tenant configurations if desired. Built with modern construction and designed for low maintenance, the building offers strong curb appeal and operational efficiency. Ample parking and convenient access enhance the experience for both employees and clientele. From an investment perspective, the opportunity is equally compelling. Based on current market lease rates of $21/SF + NNN, the property is projected to generate approximately $84,903 in NOI, resulting in a stabilized cap rate of ~7.4% at the current list price. This positions the asset as a strong yield opportunity within a high-growth corridor, with additional upside through lease-up strategy or owner occupancy. Whether you're seeking a strategic investment or a place to operate your business while building equity, this property delivers a rare combination of location, flexibility, and income potential.
Location
State TX
County Lubbock
Area 11
Rooms
Basement Basement
Building
Foundation Slab
New Construction No
Others
Tax ID R332884
Acceptable Financing 1031 Exchange, Cash, Conventional
Listing Terms 1031 Exchange, Cash, Conventional
Listed by Reside Real Estate Co.