3610 34Th StLubbock, TX 79410

Property Details for 3610 34Th St

Year built

1960

Lot size

0.53 AC

Property size (Sq ft)

5,933 SF

Zone code

38

Property type

Office buildings

APN

R25072

APU

R25072

Description

This exceptional Class A executive office building, located at 3610 34th Street in Lubbock, Texas, presents a compelling investment opportunity. Recently remodeled in 2023, this 5,653 square foot property boasts a 73% occupancy rate and is offered at $990,000 ($175.13/SF). The single-story layout features 20 individual offices (150-200 sq ft each), two conference rooms, a large breakroom, and a kitchenette. Both bathrooms are ADA-compliant. Significant upgrades include a new HVAC system (two roof units), energy-efficient LED lighting, spray foam insulation, new electric, plumbing, windows, and vinyl plank flooring. Updated sewer, plumbing, and gas lines are also in place, both inside and outside the building. The roof is a durable 3" TPO. The polished concrete flooring complements the modern interior. Ample parking is provided with 30 spaces. The building is zoned NC and features modern security with Dormakaba lock controls and camera systems. Its convenient location offers close proximity to Marsha Sharp Freeway. This property is ideal for owner-operator use with existing rental income. This is a turnkey operation with significant recent improvements. The property is situated in Lubbock County, Texas, zip code 79410. The lease type is NNN (Net, Net, Net).

• CAP approach

  CAP return

  Valuation

  6%

  $880,213

  6.5%

  $812,504

  7%

  $754,468

• Comparable approach

  Method

  Valuation

  Relative Method

  $529,320

  Geo Method

  $713,859

• Alternative Use

  Use

  Valuation

  Residential

  $1,007,506

  Hospitality

  $922,870

  Educational

  $767,817

  Medical

  $794,223

  Retail

  $1,194,382

Location Insight

City

Lubbock

County

Lubbock

State

Texas

Latitude

33.5636

Longitude

-101.893

CBSA code

31180

CBSA name

LUBBOCK, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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