Flex Property with Covered
For Sale
$225,000
Pending
3904 Ursuline Street, Lubbock, TX 79415
COMMERCIAL - Lubbock, TX
Property Size484 SF
Lot Size3.41 Acres
Days on Market360
Property Features for 3904 Ursuline Street
General Information
Property type
Commercial Sale
Property subtype
Other
Elementary school district
Lubbock ISD
Middle school district
Lubbock ISD
High school district
Lubbock ISD
Subdivision
8
Standard status
Pending
APN
R62500
Size
484 SF
Lot size
3.41 Acres
Taxes and HOA fees
Tax Description
BLK A SEC 13 AB 89 TR B10 ACS: 3.41
Legal Description
BLK A SEC 13 AB 89 TR B10 ACS: 3.41
Amenities
storage building
covered parking
Listing Agency:
Clear Rock Realty
(806) 319-5090
Listed By:
Ruben Trujillo · License #0690204
(806) 445-3887
Added: Aug 20, 2025
Changed: Aug 9
Last Checked: Aug 14 at 5:06PM
MLS# 202559733
Copyright © 2026 Lubbock Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located at 3904 Ursuline Street in Lubbock, this flex property occupies 3.41 acres and includes a 484-square-foot storage building. The building is fitted with a large garage door, supporting secure storage, workshop use, or a compact operations base.
Multiple covered parking and storage structures add functional capacity for vehicles, trailers, and equipment. The property’s combination of open land, covered improvements, and enclosed storage creates a practical setup for trades, service businesses, contractors, or other users seeking adaptable commercial space.
Multiple covered parking and storage structures add functional capacity for vehicles, trailers, and equipment. The property’s combination of open land, covered improvements, and enclosed storage creates a practical setup for trades, service businesses, contractors, or other users seeking adaptable commercial space.
Key Highlights
- 3.41‑acre commercial property in Lubbock, TX
- 484‑square‑foot storage building
- Large garage door provides equipment access
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$6,621
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
2.94%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$132,420
$132.4K
Cap Rate 7%
$94,586
$94.6K
Cap Rate 9%
$73,567
$73.6K
Market Conditions
NOI Build-Up for 484 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$8.4K $17.40/SF
− Vacancy
−$632 −$1.31/SF
EGI
$7.8K $16.10/SF
− OpEx
−$1.2K −$2.41/SF
NOI
$6.6K $13.68/SF
Area
Lubbock, TX
Vacancy
7.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$132,420
Cap Rate 7%
$94,586
Cap Rate 9%
$73,567
Alternative Uses
Best Use
Warehouse
$94.6K
$82.8K – $110.4K
NOI $6,621 @ 7.0% cap · market cap 2.94%
Second Best
Industrial
$77.9K
$68.2K – $90.9K
NOI $5,453 @ 7.0% cap · market cap 2.42%
Theoretical Best
Office A
$122.0K
$106.8K – $142.4K
NOI $8,541 @ 7.0% cap · market cap 3.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Drive-in doors
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
98
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 79415, TX
17,499
Population
7,225
Households
2.4
Avg Household Size
30
Median Age
26%
College-Educated
77%
High-School Grad
67.8 sq mi
ZIP Area
258
Density / Sq Mi
$37,101
Median Household Income
$25,506
Median Earnings
$956
Median Rent
$94,000
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Flexible commercial site with covered storage structures and a garage-door-equipped building.
Where is this flex space located?
The property is located at 3904 Ursuline Street Lubbock, TX.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: 3.41‑acre commercial property in Lubbock, TX; 484‑square‑foot storage building; Large garage door provides equipment access
