13037 Quaker Avenue Lubbock, TX 79423
Other
MLS #: 202604211
Courtesy Of Reside Real Estate Co.
Property InformationDescription
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.
Features
- Age: 6-10 Years Old
- Cooling System: Central Air
- Floors: 1
- Heating System: Central
- Legal Description: Kelsey Park Tr J
- MLSID: 202604211
- Roof Type: Composition
MAP & DIRECTIONS
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