Flex Space with Secured
For Sale
$549,000
201 NE Loop 289, Lubbock, TX 79403
Fenced commercial property combines office space, warehouse bays, and a gated stack yard with substantial parking.
Property Size4,400 SF
Price / SF$124.77
Days on Market582
Property Features for 201 NE Loop 289
General Information
Standard status
Active
Size
4,400 SF
Property subtype
Commercial/Industrial
Taxes and HOA fees
Annual Taxes
$2,659
Building Details
Year Built
1985
Listing Agency:
Real Estate Lubbock
Listed By:
Meredith Wideman · License #0511448
(806) 438-8083
Source:
Exitrealty
Added: Mar 15, 2025
Changed: Sep 1
Last Checked: Sep 15 at 5:00AM
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 Real Estate Lubbock
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This flex property at 201 NE Loop 289 combines office, warehouse, and outdoor storage components within a fenced and gated setting. The office area includes six individual offices, a breakroom, three restrooms, and an entry lobby that can accommodate showroom or customer-seating functions. The warehouse offers four bays equipped with large overhead doors and automatic openers.
Six covered parking spaces are complemented by additional open parking on a fully concrete surface. The grounds are landscaped with irrigation, while the office and stack yard have gated access. Built in 1985, the property provides a practical combination of enclosed workspace, warehouse capacity, and secured outdoor storage.
Six covered parking spaces are complemented by additional open parking on a fully concrete surface. The grounds are landscaped with irrigation, while the office and stack yard have gated access. Built in 1985, the property provides a practical combination of enclosed workspace, warehouse capacity, and secured outdoor storage.
Key Highlights
- Four warehouse bays with large overhead doors and automatic openers
- Six individual office spaces, a breakroom, and 3 restrooms
- Fenced office and stack yard with gated access
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$49,573
Cap Rate
9.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$991,460
$991.5K
Cap Rate 7%
$708,186
$708.2K
Cap Rate 9%
$550,811
$550.8K
Market Conditions
NOI Build-Up for 4,400 SF
Gross rent
$76.6K $17.40/SF
− Vacancy
−$5.7K −$1.31/SF
EGI
$70.8K $16.10/SF
− OpEx
−$21.2K −$4.83/SF
NOI
$49.6K $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%
$991,460
Cap Rate 7%
$708,186
Cap Rate 9%
$550,811
Alternative Uses
Best Use
Warehouse
$859.9K
$752.4K – $1.00M
NOI $60,195 @ 7.0% cap · market cap 10.96%
Second Best
Office B
$821.7K
$719.0K – $958.7K
NOI $57,519 @ 7.0% cap · market cap 10.48%
Theoretical Best
Office A
$1.11M
$970.6K – $1.29M
NOI $77,648 @ 7.0% cap · market cap 14.14%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
65
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 79403, TX
15,604
Population
6,530
Households
2.4
Avg Household Size
38
Median Age
11%
College-Educated
76%
High-School Grad
131.3 sq mi
ZIP Area
119
Density / Sq Mi
$45,343
Median Household Income
$27,431
Median Earnings
$946
Median Rent
$83,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Flex space - Fenced commercial property combines office space, warehouse bays, and a gated stack yard with substantial parking.
Where is this flex space located?
The property is located at 201 NE Loop 289 Lubbock, TX.
What is the asking price?
The asking price for this property is $549,000.
What are key features of this property?
This property features: Four warehouse bays with large overhead doors and automatic openers; Six individual office spaces, a breakroom, and 3 restrooms; Fenced office and stack yard with gated access
