Remodeled Warehouse on Indiana
For Sale
$2,750,000
11717 Indiana Ave, Lubbock, TX 79423
Flexible warehouse building in South Lubbock, suitable for various uses.
Property Size19,380 SF
Days on Market223
Property Features for 11717 Indiana Ave
General Information
Standard status
Active
Size
19,380 SF
Property subtype
Special Purpose
Building Details
Building Size
19,380 SF
Year Built
1988
Listing Agency:
NAI Wheelhouse
Listed By:
Joe Magby
(806) 200-3244
Source:
Naiglobal
Added: Feb 26
Changed: Oct 3
Last Checked: Oct 7 at 10:35AM
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 NAI Wheelhouse
Investment Insights
Based on property information with market context.
This recently remodeled warehouse building, updated in 2022, is currently operated as a baseball training facility. The property offers a flexible layout suitable for a wide range of users. It features a lobby, a private office, two restrooms, and multiple storage rooms. Ample open space can be configured to meet various operational needs. Located on Indiana Avenue in South Lubbock, the building provides access and visibility along a major arterial road within a high-growth area. It is well suited for industrial, office, special-use, or recreational concepts.
Key Highlights
- Remodeled in 2022, offering modern updates and move‑in readiness.
- Highly flexible layout suitable for various uses.
- Excellent access and visibility on Indiana Avenue.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$218,345
Cap Rate
7.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,366,900
$4.4M
Cap Rate 7%
$3,119,214
$3.1M
Cap Rate 9%
$2,426,056
$2.4M
Market Conditions
NOI Build-Up for 19,380 SF
Gross rent
$337.2K $17.40/SF
− Vacancy
−$25.3K −$1.31/SF
EGI
$311.9K $16.10/SF
− OpEx
−$93.6K −$4.83/SF
NOI
$218.3K $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 Rate 5%
$4,366,900
Cap Rate 7%
$3,119,214
Cap Rate 9%
$2,426,056
Alternative Uses
Best Use
Warehouse
$3.79M
$3.31M – $4.42M
NOI $265,133 @ 7.0% cap · market cap 9.64%
Second Best
Industrial
$3.12M
$2.73M – $3.64M
NOI $218,345 @ 7.0% cap · market cap 7.94%
Theoretical Best
Office A
$4.89M
$4.28M – $5.70M
NOI $342,003 @ 7.0% cap · market cap 12.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
130
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 79423, TX
42,311
Population
18,463
Households
2.3
Avg Household Size
35
Median Age
38%
College-Educated
94%
High-School Grad
64.2 sq mi
ZIP Area
659
Density / Sq Mi
$82,906
Median Household Income
$45,520
Median Earnings
$1,284
Median Rent
$222,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
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Similar Off Market Nearby
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Frequently Asked Questions
What type of property is this?
Fitness center & gym - Flexible warehouse building in South Lubbock, suitable for various uses.
Where is this fitness center & gym located?
The property is located at 11717 Indiana Ave Lubbock, TX.
What is the asking price?
The asking price for this property is $2,750,000.
What are key features of this property?
This property features: Remodeled in 2022, offering modern updates and move‑in readiness.; Highly flexible layout suitable for various uses.; Excellent access and visibility on Indiana Avenue.
