Flex Office and Warehouse with
For Sale
$675,000
3698 East Marshall Avenue, Longview, TX 75602
Well-equipped flex facility with secured paved yard, climate-controlled workshop, and multiple overhead doors for mixed operations.
Property Size7,500 SF
Lot Size0.50 Acres
Price / SF$90
Days on Market97
Property Features for 3698 East Marshall Avenue
General Information
Standard status
Active
Size
7,500 SF
Lot size
0.50 Acres
Property subtype
Office / Warehouse
Site & Location
Highway Access
Yes
Road Access
Yes
Fenced Yard
Yes
Additional Details
Drive-In Doors
7
Listing Agency:
Drake Real Estate & Investments
Listed By:
Hagan Baker · License #75703
(903) 405-1954
Source:
Draketexas
Added: Jun 3
Changed: Aug 15
Last Checked: Sep 7 at 5:38AM
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 Drake Real Estate & Investments
Investment Insights
Based on property information with market context.
This well-equipped flex property combines office and industrial use in a single, functional layout. The facility includes fully secured grounds with a fenced and gated yard, supporting controlled access and privacy for yard-based operations. On the office side, there is a full office restroom with a shower, and the shop includes a restroom with a shower. The workshop is climate controlled and features new LED lighting and electrical.
The site is served by a paved and stabilized yard and offers multiple overhead doors for loading and equipment access, with seven total overhead doors configured as (3) 10' x 12', (2) 20' x 12', and (2) 10' x 14'. Pylon signage is present along a major thoroughfare, helping identify the property for day-to-day traffic and client visibility.
With a flexible configuration that supports office, warehouse, and yard use, the property is well suited for service companies, distribution, fabrication, and trade-oriented businesses that need both functional shop space and on-site yard storage. The combination of secured outdoor space, climate-controlled workshop area, and substantial door count supports a range of operational setups that benefit from shared office and warehouse workflow.
The site is served by a paved and stabilized yard and offers multiple overhead doors for loading and equipment access, with seven total overhead doors configured as (3) 10' x 12', (2) 20' x 12', and (2) 10' x 14'. Pylon signage is present along a major thoroughfare, helping identify the property for day-to-day traffic and client visibility.
With a flexible configuration that supports office, warehouse, and yard use, the property is well suited for service companies, distribution, fabrication, and trade-oriented businesses that need both functional shop space and on-site yard storage. The combination of secured outdoor space, climate-controlled workshop area, and substantial door count supports a range of operational setups that benefit from shared office and warehouse workflow.
Key Highlights
- 1,450 SF office plus 6,050 SF industrial space with a functional flex layout for mixed operations
- Fully secured fenced and gated paved yard (approx. 0.5 acres) with controlled access
- Climate‑controlled workshop with new LED lighting and electrical
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
$53,198
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
7.88%
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%
$1,063,960
$1.1M
Cap Rate 7%
$759,971
$760.0K
Cap Rate 9%
$591,089
$591.1K
Market Conditions
NOI Build-Up for 7,500 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
$68.4K $9.12/SF
− Vacancy
−$5.8K −$0.78/SF
EGI
$62.6K $8.34/SF
− OpEx
−$9.4K −$1.25/SF
NOI
$53.2K $7.09/SF
Area
Gregg County, TX
Vacancy
8.50%
Lease Rate
$9.12 /SF/Yr
Expense Ratio
15.00%
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%
$1,063,960
Cap Rate 7%
$759,971
Cap Rate 9%
$591,089
Alternative Uses
Best Use
Warehouse
$760.0K
$665.0K – $886.6K
NOI $53,198 @ 7.0% cap · market cap 7.88%
Second Best
Industrial
$625.9K
$547.6K – $730.2K
NOI $43,810 @ 7.0% cap · market cap 6.49%
Theoretical Best
Hotel Hospitality
$5.65M
$4.94M – $6.59M
NOI $395,438 @ 7.0% cap · market cap 58.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
7
Drive-in doors
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
492
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 75602, TX
22,041
Population
8,131
Households
2.7
Avg Household Size
33
Median Age
14%
College-Educated
79%
High-School Grad
51.9 sq mi
ZIP Area
425
Density / Sq Mi
$56,659
Median Household Income
$30,199
Median Earnings
$970
Median Rent
$122,700
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Well-equipped flex facility with secured paved yard, climate-controlled workshop, and multiple overhead doors for mixed operations.
Where is this flex space located?
The property is located at 3698 East Marshall Avenue Longview, 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: 1,450 SF office plus 6,050 SF industrial space with a functional flex layout for mixed operations; Fully secured fenced and gated paved yard (approx. 0.5 acres) with controlled access; Climate‑controlled workshop with new LED lighting and electrical
