3610 34th Street

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.