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Lubbock,TX 79410
Key Details
Property Type Commercial
Sub Type Office
Listing Status Active
Purchase Type For Sale
Square Footage 5,933 sqft
Price per Sqft $128
MLS Listing ID 202559420
Maintenance Fees $120
Year Built 1960
Annual Tax Amount $5,774
Lot Size 0.534 Acres
Acres 0.53
Property Sub-Type Office
Source Lubbock Association of REALTORS®
Property Description
Class A Central Lubbock Office Building. Can be owner occupied or investment opportunity. 20 Private offices, 2 large conference rooms, breakroom, 2 ADA bathrooms. 30 Dedicated parking spaces with an additional 9 parking spaces available at no cost next door to the West. Plus 2 large exterior storage buildings that could be leased.
Current monthly gross rent is $8,085 from 16 rented offices and 4 virtual offices. Currently 4 vacant offices available to lease at $500/month which would add $2,000 per month in gross rent. Only 5 offices have leases that end between 2/28/26 and 7/31/26. So this could be an owner occupied building or half owner occupied and half income generating or a full income generating investment. All current tenants have been in place for at least a year with no plans to move. 2 Years rental history with consistently 80%+ occupancy. Price is based on 2 years average NOI and a 8.5% cap rate.
Remodel completed in 2022 with no expense spared. TPO Roof with 3in foam iso board insulation w/transferable warranty, 2 - 5 Ton roof HVAC units are ultra efficient. Electric bill for July 2025 was less than $800. Interior was 100% redone including all electrical wiring, plumbing lines, LED lighting, polished concrete flooring. Building features a Verkada controlled access system with a lot of customization and options for add-on features. Building is fully wired with CAT6 to each individual office plus wireless APs throughout building for very reliable wireless service. Eufy full wireless camera system for exterior security is solar powered and AI to track faces and monitor familiar vs strangers.
If buyer is interested in keeping the Social Lofts brand and continue to lease offices, seller is willing to transfer ownership of the website/facebook page and lead generation to new owner and is willing to conitnue managing the building. Typically generates about 1 showing per week which averages 1 new tenant per month.
Location
State TX
County Lubbock
Area 3
Rooms
Basement Basement
Interior
Heating Central,Forced Air,Natural Gas
Cooling Central Air,Electric,Multi Units
Flooring Concrete
Exterior
Parking Features Additional Parking,Alley Access,Open,Asphalt,Guest,Parking Lot
Fence None
Utilities Available Electricity Connected,Natural Gas Connected,Sewer Connected,Water Connected
Roof Type Membrane
Accessibility Accessible Approach with Ramp,Accessible Common Area,Accessible Doors,Accessible Entrance,Visitor Bathroom,Accessible Hallway(s)
Total Parking Spaces 30
Building
Lot Description City Lot,Landscaped,Paved
Story 1
Foundation Slab
Sewer Public Sewer
Water Public
New Construction No
Others
Tax ID R25072
Acceptable Financing 1031 Exchange,Cash,Conventional,Owner May Carry,Private Financing Available
Listing Terms 1031 Exchange,Cash,Conventional,Owner May Carry,Private Financing Available
Special Listing Condition Standard