New Flex Building with
For Sale
$1,200,000
3913 County Road 1350, Lubbock, TX 79407
Commercial Sale, Lubbock, TX
Property Size9,549 SF
Lot Size1.00 Acre
Price / SF$125.67
Days on Market170
Property Features for 3913 County Road 1350
General Information
Property type
Commercial Sale
Property subtype
Other
Property condition
Under Construction
Parking features
Parking Lot
Security features
Security
Fencing
Privacy, Gate, Fenced
Lot features
Back Yard, Corner Lot, Cul-De-Sac, Rectangular Lot, Sloped
Subdivision
7
Standard status
Active
APN
R351625
Size
9,549 SF
Lot size
1.00 Acre
Taxes and HOA fees
Tax Description
Inler Business Park Tr K2
Tax Annual Amount
729
Legal Description
Inler Business Park Tr K2
Utilities
Utilities
Cable Available
Sewer type
Aerobic Septic
Heating system
Electric (Heating), Central
Cooling system
Ceiling Fan(s), Central Air, Electric
Water source
Private
Amenities
lobby
kitchen/break room
Building Details
Year built
2026
Flooring type
Concrete, Vinyl
Building materials
Concrete, Ducts Professionally Air-Sealed, Metal Siding, Spray Foam Insulation, Steel Frame
Roof type
Metal
Listing Agency:
McDougal, REALTORS
(806) 793-0703
Listed By:
Jena Reeves · License #0770983
(806) 789-5444
Added: Mar 23
Changed: Sep 8
Last Checked: Sep 8 at 10:06AM
MLS# 202603760
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.
New construction flex space at 3913 County Road 1350 includes 2,056 square feet of office area and 7,492 square feet of warehouse area. The office component has seven offices, a lobby, kitchen/break room, one bathroom, vinyl plank flooring, brick accent walls, and granite countertops. Warehouse improvements include foam insulation, 20-foot sidewalls, a dedicated restroom, one 10-foot overhead door serving a dock-high loading dock with dock leveler, one 10-foot grade-level overhead door, and two 14-foot grade-level overhead doors.
The building sits on 1 acre in Inler Business Park outside the city limits. Front parking is concrete, while a 7-foot metal fence encloses the crushed asphalt stack yard. The property has a private well, aerobic septic system, SPEC electricity, and access to Atmos natural gas and Optimum high-speed internet. Final touchups are needed.
The building sits on 1 acre in Inler Business Park outside the city limits. Front parking is concrete, while a 7-foot metal fence encloses the crushed asphalt stack yard. The property has a private well, aerobic septic system, SPEC electricity, and access to Atmos natural gas and Optimum high-speed internet. Final touchups are needed.
Key Highlights
- 2,056 square feet of office space with 7 offices, lobby, kitchen/break room, 1 bathroom, and granite countertops
- 7,492 square feet of warehouse space with 20‑foot sidewalls and foam insulation
- Dock‑high loading dock with dock leveler and 1 10‑foot overhead door
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
$107,584
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
8.97%
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%
$2,151,680
$2.2M
Cap Rate 7%
$1,536,914
$1.5M
Cap Rate 9%
$1,195,378
$1.2M
Market Conditions
NOI Build-Up for 9,549 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
$166.2K $17.40/SF
− Vacancy
−$12.5K −$1.31/SF
EGI
$153.7K $16.10/SF
− OpEx
−$46.1K −$4.83/SF
NOI
$107.6K $11.27/SF
Area
Lubbock, TX
Vacancy
7.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
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%
$2,151,680
Cap Rate 7%
$1,536,914
Cap Rate 9%
$1,195,378
Alternative Uses
Best Use
Warehouse
$1.87M
$1.63M – $2.18M
NOI $130,637 @ 7.0% cap · market cap 10.89%
Second Best
Office B
$1.78M
$1.56M – $2.08M
NOI $124,829 @ 7.0% cap · market cap 10.40%
Theoretical Best
Office A
$2.41M
$2.11M – $2.81M
NOI $168,513 @ 7.0% cap · market cap 14.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Dock-high doors
3
Drive-in doors
Yes
Fenced yard
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
27
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 79407, TX
23,208
Population
11,817
Households
2
Avg Household Size
32
Median Age
41%
College-Educated
92%
High-School Grad
75.9 sq mi
ZIP Area
306
Density / Sq Mi
$64,778
Median Household Income
$38,212
Median Earnings
$1,131
Median Rent
$200,700
Median Home Value
Market
Vacancy Rate% for Office 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 - Metal flex property combines finished office space with insulated warehouse capacity and multiple overhead loading doors.
Where is this flex space located?
The property is located at 3913 County Road 1350 Lubbock, TX.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 2,056 square feet of office space with 7 offices, lobby, kitchen/break room, 1 bathroom, and granite countertops; 7,492 square feet of warehouse space with 20‑foot sidewalls and foam insulation; Dock‑high loading dock with dock leveler and 1 10‑foot overhead door
