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1705 S Mobberly Ave., Longview, TX 75602
2000 SF commercial building near LeTourneau University with drive-through.
Property Size2,000 SF
Price / SF$99.50
Days on Market175
Property Features for 1705 S Mobberly Ave.
General Information
Standard status
Active
Size
2,000 SF
Property subtype
Special Purpose
Building Details
Year Built
1994
Listing Agency:
Coldwell Banker Commercial Lenhart Properties, Inc.
(903) 753-0047
Listed By:
JACK LENHART · License #TX
Source:
Crexi
Added: Feb 18
Changed: Aug 8
Last Checked: Aug 10 at 3:44PM
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 Commercial Lenhart Properties, Inc.
Investment Insights
Based on property information with market context.
Located on South Mobberly Avenue, this 2000-square-foot building is situated minutes from LeTourneau University. The property, previously used as a dry cleaner, features a lobby area with a small office. The warehouse area includes high ceilings for ample clearance. A drive-through is already in place. This Longview location offers potential for various business ventures.
Key Highlights
- Located minutes from LeTourneau University.
- Existing drive‑through.
- 2000 square feet of space.
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
$14,186
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
7.13%
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%
$283,720
$283.7K
Cap Rate 7%
$202,657
$202.7K
Cap Rate 9%
$157,622
$157.6K
Market Conditions
NOI Build-Up for 2,000 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
$18.2K $9.12/SF
− Vacancy
−$1.6K −$0.78/SF
EGI
$16.7K $8.34/SF
− OpEx
−$2.5K −$1.25/SF
NOI
$14.2K $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%
$283,720
Cap Rate 7%
$202,657
Cap Rate 9%
$157,622
Alternative Uses
Best Use
Specialty Retail
$500.6K
$438.1K – $584.1K
NOI $35,044 @ 7.0% cap · market cap 17.61%
Second Best
Retail
$387.0K
$338.6K – $451.5K
NOI $27,091 @ 7.0% cap · market cap 13.61%
Theoretical Best
Hotel Hospitality
$1.51M
$1.32M – $1.76M
NOI $105,450 @ 7.0% cap · market cap 52.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
587
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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Similar Off Market Nearby
- Tienda Flores — 1810 S Mobberly Ave, Longview, TX 75602
Frequently Asked Questions
What type of property is this?
Storefront property - 2000 SF commercial building near LeTourneau University with drive-through.
Where is this storefront property located?
The property is located at 1705 S Mobberly Ave. Longview, TX.
What is the asking price?
The asking price for this property is $199,000.
What are key features of this property?
This property features: Located minutes from LeTourneau University.; Existing drive‑through.; 2000 square feet of space.
