10
See all 10 photos
$1,200,000
Est. payment /mo
4,660 SqFt
Price Dropped by $100K
13037 Quaker Avenue Lubbock, TX 79423
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Key Details
Property Type Commercial
Sub Type Business
Listing Status Active
Purchase Type For Sale
Square Footage 4,660 sqft
Price per Sqft $257
MLS Listing ID 202604211
Year Built 2016
Annual Tax Amount $21,309
Lot Size 0.517 Acres
Acres 0.52
Property Sub-Type Business
Source Lubbock Association of REALTORS®
Property Description
Fully leased office investment featuring 14 total suites, providing stable and diversified income across multiple tenants. Current gross annual income is $135,792 with verified operating expenses of $34,767, resulting in a Net Operating Income (NOI) of $101,025. At the new list price of $1,200,000, the property is performing at an attractive 8.42% cap rate. Leases are structured as full-service (gross), with landlord covering utilities, maintenance, and common expenses. Expense ratio is approximately 25.6%, supported by actual financials. Anchor tenant contributes to janitorial, helping offset operating costs. Constructed in 2016, the property offers modern improvements and minimal near-term capital expenditure expectations. Ideal for investors seeking a stabilized, low-maintenance asset with immediate cash flow and potential upside through future rent growth or expense efficiencies.
Location
State TX
County Lubbock
Area 11
Rooms
Basement Basement
Interior
Heating Central
Cooling Central Air
Exterior
Roof Type Composition
Building
Lot Description Paved, Level
Story 1
Foundation Slab
Level or Stories true
New Construction No
Others
Tax ID R324878
Acceptable Financing Cash, Conventional, FHA, VA Loan
Listing Terms Cash, Conventional, FHA, VA Loan
Listed by Reside Real Estate Co.