New Apartment Building Near
For Sale
$5,395,000
Lionel Avenue, Texarkana, TX 75503
MULTI_FAMILY - Texarkana, TX
Property Size33,891 SF
Lot Size2.40 Acres
Price / SF$159.19
Days on Market50
Property Features for Lionel Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Property condition
Under Construction
Bedrooms
2
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bathroom 2, Bathroom 1, Bathroom 3, Bedroom 1, Bedroom 2
Parking
66
Parking features
Assigned, Driveway
Patio and Porch features
Porch
Interior features
EatInKitchen, GraniteCounters, HighSpeedInternet, MultipleMasterSuites, OpenFloorplan, WalkInClosets
Appliances
Dryer, ElectricRange, Disposal, Microwave
Subdivision
Wright Ridge
Lot features
Acreage, Cleared, Corner Lot
Elementary school
Pleasant Grove
Middle school
Pleasant Grove
High school
Pleasant Grove
Elementary school district
Pleasant Grove ISD
Middle school district
Pleasant Grove ISD
High school district
Pleasant Grove ISD
Directions
From Highway 30, Head North on Richmond Rd. Take a right onto University Ave. Property will be at the corner of University Ave and Lionel Ave.
Standard status
Active
APN
30180003300
Size
33,891 SF
Lot size
2.40 Acres
Taxes and HOA fees
Tax Description
WRIGHTRIDGE ADDN LOTs 13, 14, 15
Tax Annual Amount
100000
Legal Description
WRIGHTRIDGE ADDN LOTs 13, 14, 15
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Ceiling Fan(s), Electric, Central Air
Water source
Public
Building Details
Year built
2026
Floors in Building
2
Number of units
33
Flooring type
Laminate
Building materials
Brick, WoodSiding
Roof type
Composition, Shingle
Listing Agency:
Tx Land & Legacy Realty, LLC
(817) 832-4273
Listed By:
Bryson Swiggart · License #0634498
(601) 955-6881
Added: Jul 12
Changed: Aug 15
Last Checked: Aug 30 at 9:06AM
MLS# 20861984
Copyright © 2026 North Texas Real Estate Information Systems, Inc. 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.
This 33,891-square-foot apartment property was built in 2026 on 2.4 acres near the Texas A&M University-Texarkana campus. The complex includes open-plan interiors, eat-in kitchens, granite countertops, walk-in closets, multiple master suites, laminate flooring, and central heating and air conditioning. Units are individually metered for water and electricity, with public water and sewer service. Assigned parking, driveways, and porches are also provided.
The property is within walking distance of campus and within 5 minutes of shopping, restaurants, and healthcare. Texas A&M University-Texarkana is identified as a growing campus with additional sports and academic facilities planned or under development, including a business, engineering, and technology building targeted for completion in Spring 2026.
As of August 7, 20 units had been leased, with reported occupancy at 61%. The complex is in its lease-up phase and may accommodate student or general-public housing, as supported by the property information.
The property is within walking distance of campus and within 5 minutes of shopping, restaurants, and healthcare. Texas A&M University-Texarkana is identified as a growing campus with additional sports and academic facilities planned or under development, including a business, engineering, and technology building targeted for completion in Spring 2026.
As of August 7, 20 units had been leased, with reported occupancy at 61%. The complex is in its lease-up phase and may accommodate student or general-public housing, as supported by the property information.
Key Highlights
- 33,891‑square‑foot apartment complex on 2.4 acres
- Built in 2026 near Texas A&M University‑Texarkana
- Walking distance to the Texas A&M University‑Texarkana campus
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
$202,744
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
3.76%
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%
$4,054,880
$4.1M
Cap Rate 7%
$2,896,343
$2.9M
Cap Rate 9%
$2,252,711
$2.3M
Market Conditions
NOI Build-Up for 33,891 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
$418.9K $12.36/SF
− Vacancy
−$50.3K −$1.48/SF
EGI
$368.6K $10.88/SF
− OpEx
−$165.9K −$4.89/SF
NOI
$202.7K $5.98/SF
Area
Bowie County, TX
Vacancy
12.00%
Lease Rate
$12.36 /SF/Yr
Expense Ratio
45.00%
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%
$4,054,880
Cap Rate 7%
$2,896,343
Cap Rate 9%
$2,252,711
Alternative Uses
Best Use
Apartment 5plus
$2.90M
$2.53M – $3.38M
NOI $202,744 @ 7.0% cap · market cap 3.76%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$25.53M
$22.34M – $29.78M
NOI $1,786,903 @ 7.0% cap · market cap 33.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
61%
Occupancy
Location Intelligence
Trade Area within ½ mile
67
Businesses Nearby
Explore this area
Business Placement
Demographics for 75503, TX
25,547
Population
11,464
Households
2.2
Avg Household Size
41
Median Age
35%
College-Educated
95%
High-School Grad
78.5 sq mi
ZIP Area
325
Density / Sq Mi
$67,733
Median Household Income
$43,508
Median Earnings
$1,185
Median Rent
$214,400
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Recently completed multifamily property with individually metered utilities and access to nearby shopping, dining, and healthcare.
Where is this apartment building located?
The property is located at Lionel Avenue Texarkana, TX.
What is the asking price?
The asking price for this property is $5,395,000.
What are key features of this property?
This property features: 33,891‑square‑foot apartment complex on 2.4 acres; Built in 2026 near Texas A&M University‑Texarkana; Walking distance to the Texas A&M University‑Texarkana campus
