Lancaster Industrial Park Value-Add
1500-1504 S I-35E & 3105 Lomita Dr Lancaster, TX 75146
1500-1504 S I-35E & 3105 Lomita Dr, Lancaster, TX, 75146
$13,500,000
Multi-tenant industrial park with value-add potential in Lancaster, Texas.
Property Size114,440 SF
Price / SF$117.97
AddedMay 14
Days on Market63
Last RefreshJul 15 at 5:00 am
Property Features for 1500-1504 S I-35E & 3105 Lomita Dr
General Information
- Standard status
- Active
- Size
- 114,440 SF
- Property subtype
- Industrial - Flex - Industrial
Listing office SLJ Company
Listing date May 14, 2026
Source Commercialcafe
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 SLJ Company
Investment Insights
Based on property information with market context.
Still Meadow Industrial Park is a multi-tenant industrial asset located in Lancaster, Texas. The property offers frontage along I-35E, which sees over 98,500 vehicles per day. Constructed between 1973 and 2013, the property consists of approximately 114,440 square feet. It features a functional small-bay layout with an average suite size of approximately 4,976 square feet, 36 grade-level and 3 dock-high doors, and clear heights of 14 to 18 feet. The property has a concrete parking lot. The finish-out is 10% office and 90% warehouse, supporting a range of service-oriented and light industrial tenants. The surrounding small-bay industrial submarket is constrained, with a 1.6% flex vacancy and no new supply expected through 2030. The property is located within a growing demographic corridor, with average household incomes exceeding $98,000 and median home values above $281,000 within a three-mile radius. The property is strategically located along I-35E in the Lancaster submarket of southern Dallas County, offering access to Lomita Drive.
Key Highlights
- Significant value‑add opportunity: Increase rents by approximately 45% to match market rates.
- Attractive seller financing: Favorable terms including 80% LTV, 5.0% interest, a 10‑year term, and 3 years of interest‑only payments.
- Below replacement cost basis: Offered at $117.97/SF.
Local Financial Insights For Warehouse
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 | $929.3k | $8.12 |
| − Vacancy | −$81.8k | −$0.71 |
| EGI | $847.5k | $7.41 |
| − OpEx | −$127.1k | −$1.11 |
| NOI | $720.4k | $6.29 |
114,440 SF · lease $8.12/SF/yr · vacancy 8.80% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$10.29M
$9.00M – $12.01M
NOI $720,357 @ 7.0% cap · market cap 5.34%
Second Best
Industrial
$8.47M
$7.42M – $9.89M
NOI $593,235 @ 7.0% cap · market cap 4.39%
Theoretical Best
Multifamily LT 5
$1,371.75M
$1,200.28M – $1,600.38M
NOI $96,022,656 @ 7.0% cap · market cap 711.28%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Flex space
Similar For Sale Nearby
Similar Off Market Nearby
- So Savvy Corporate Catering Dallas Fort Worth — 2625 Bear Creek Rd, Lancaster, TX 75146
- DESOTO/CEDARHILL MOBILE MECHANICS — 1311 E Parkerville Rd, DeSoto, TX 75115
FAQs
What type of property is this?
Flex space - Multi-tenant industrial park with value-add potential in Lancaster, Texas.
Where is this flex space located?
The property is located at 1500-1504 S I-35E & 3105 Lomita Dr Lancaster, TX.
What is the asking price?
The asking price for this property is $13,500,000.
What are key features of this property?
This property features: Significant value‑add opportunity: Increase rents by approximately 45% to match market rates.; Attractive seller financing: Favorable terms including 80% LTV, 5.0% interest, a 10‑year term, and 3 years of interest‑only payments.; Below replacement cost basis: Offered at $117.97/SF.
