Highway 69 Office Warehouse
For Sale
$1,200,000
7588 Neely Rd, Lumberton, TX 77657
Turnkey office suites with attached warehouse and fenced laydown yard.
Property Size4,050 SF
Lot Size1.36 Acres
Price / SF$296.30
Days on Market1170
Property Features for 7588 Neely Rd
General Information
Standard status
Active
Size
4,050 SF
Lot size
1.36 Acres
Listing Agency:
Coldwell Banker Lumberton
(409) 767-1576
Listed By:
Darci Piel
(409) 767-1576
Source:
Exprealty
Added: Jun 12, 2023
Changed: Aug 20
Last Checked: Aug 23 at 4:28AM
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 Coldwell Banker Lumberton
Investment Insights
Based on property information with market context.
Located off Highway 69 on Neely Road, this property features professional office suites with a reception area, kitchen, and restrooms. An attached warehouse area and a fenced and gated laydown yard are also included. The total land size is 1.36 acres. The office space measures 2,850 square feet. The property is turnkey and features neutral colors. The office area is designed to provide a prestigious and welcoming impression. The building includes a 5-camera security system with inside office monitoring and Wi-Fi access from a phone. The total square footage is 4,050. The property is located outside city limits.
Key Highlights
- Prime location directly off Highway 69 on Neely Road, offering excellent accessibility.
- Turnkey professional office suites with reception area, kitchen, and restrooms.
- Attached warehouse area and fenced/gated laydown yard, ideal for storage and operations.
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
$46,911
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
3.91%
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%
$938,220
$938.2K
Cap Rate 7%
$670,157
$670.2K
Cap Rate 9%
$521,233
$521.2K
Market Conditions
NOI Build-Up for 4,050 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
$80.2K $19.80/SF
− Vacancy
−$17.6K −$4.36/SF
EGI
$62.5K $15.44/SF
− OpEx
−$15.6K −$3.86/SF
NOI
$46.9K $11.58/SF
Area
Hardin County, TX
Vacancy
22.00%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
25.00%
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%
$938,220
Cap Rate 7%
$670,157
Cap Rate 9%
$521,233
Alternative Uses
Best Use
Office B
$670.2K
$586.4K – $781.9K
NOI $46,911 @ 7.0% cap · market cap 3.91%
Second Best
Flex RnD
$574.9K
$503.1K – $670.8K
NOI $40,246 @ 7.0% cap · market cap 3.35%
Theoretical Best
Office A
$956.4K
$836.9K – $1.12M
NOI $66,951 @ 7.0% cap · market cap 5.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
134
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 77657, TX
22,161
Population
9,044
Households
2.5
Avg Household Size
38
Median Age
26%
College-Educated
93%
High-School Grad
57.7 sq mi
ZIP Area
384
Density / Sq Mi
$93,225
Median Household Income
$55,129
Median Earnings
$1,039
Median Rent
$243,900
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Turnkey office suites with attached warehouse and fenced laydown yard.
Where is this flex space located?
The property is located at 7588 Neely Rd Lumberton, 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: Prime location directly off Highway 69 on Neely Road, offering excellent accessibility.; Turnkey professional office suites with reception area, kitchen, and restrooms.; Attached warehouse area and fenced/gated laydown yard, ideal for storage and operations.
