Office Warehouse with Multiple
1207 E FM 1585 Lubbock, TX 79423
1207 E FM 1585, Lubbock, TX, 79423
$675,000
For Sale
$675,000
Newer 4,800 sf office/warehouse includes 1,140 sf office, mezzanine storage, and three 14' x 14' grade level doors.
Property Size4,800 SF
Lot Size1.09 Acres
Price / SF$140.63
Days on Market154
Property Features for 1207 E FM 1585
General Information
- Standard status
- Active
- Size
- 4,800 SF
- Lot size
- 1.09 Acres
- Property subtype
- Industrial
Building Details
- Year Built
- 2021
Properties For Sale
at 1207 E FM 1585 Contact us
Listing agency
WestMark Commercial | TCN Worldwide
(806) 776-2831
Listed by
David Haymes, CCIM · License ##0618395-SA
(806) 776-2831
Source
Thebrokerlist
Added: Feb 18 Updated: Jul 21 at 2:50AM Checked: Jul 21 at 2:50AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of WestMark Commercial | TCN Worldwide
Investment Insights
Based on property information with market context.
This property features a 4,800 sf office/warehouse built in 2021, with approximately 1,140 sf of office space. The warehouse is served by three grade level 14' x 14' overhead doors with electric openers, and it includes mezzanine storage above the office area. A finished restroom is also located within the office portion of the building.
The site is located on FM 1585, approximately one mile east of Highway 87/Interstate 27.
In addition to the office/warehouse, the overall property includes a 2,478 sf residence on the 1.09 acre lot, described as a three-bedroom, two-bath home with a two-car garage and a large basement.
The site is located on FM 1585, approximately one mile east of Highway 87/Interstate 27.
In addition to the office/warehouse, the overall property includes a 2,478 sf residence on the 1.09 acre lot, described as a three-bedroom, two-bath home with a two-car garage and a large basement.
Key Highlights
- 4,800 SF office/warehouse built in 2021 on a 1.09‑acre lot
- Includes approximately 1,140 SF finished office space
- Warehouse has three electric 14' x 14' grade level overhead doors
Local Financial Insights For Industrial
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $83.5k | $17.40 |
| − Vacancy | −$6.3k | −$1.31 |
| EGI | $77.3k | $16.10 |
| − OpEx | −$23.2k | −$4.83 |
| NOI | $54.1k | $11.27 |
4,800 SF · lease $17.40/SF/yr · vacancy 7.50% · expense 30.00%
Alternative Uses
Best Use
Warehouse
$938.1K
$820.9K – $1.09M
NOI $65,668 @ 7.0% cap · market cap 9.73%
Second Best
Office B
$896.4K
$784.4K – $1.05M
NOI $62,748 @ 7.0% cap · market cap 9.30%
Theoretical Best
Office A
$1.21M
$1.06M – $1.41M
NOI $84,707 @ 7.0% cap · market cap 12.55%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Flex space
Similar For Sale Nearby
FAQs
What type of property is this?
Flex space - Newer 4,800 sf office/warehouse includes 1,140 sf office, mezzanine storage, and three 14' x 14' grade level doors.
Where is this flex space located?
The property is located at 1207 E FM 1585 Lubbock, TX.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: 4,800 SF office/warehouse built in 2021 on a 1.09‑acre lot; Includes approximately 1,140 SF finished office space; Warehouse has three electric 14' x 14' grade level overhead doors
