Renovated Mixed-Use Office
For Sale
$264,000
208 Texas Avenue, Slaton, TX 79364
Updated interior supports office, executive suite, and short-term rental operations with a conference room, bathrooms, and full kitchen.
Property Size2,200 SF
Price / SF$120
Days on Market27
Property Features for 208 Texas Avenue
General Information
Standard status
Active
Size
2,200 SF
Property subtype
Commercial
Zoning
CB
Taxes and HOA fees
Annual Taxes
$657
Amenities
conference room
full kitchen
Building Details
Building Size
2,200 SF
Year Built
1935
Listing Agency:
Real Broker, LLC
(806) 777-5240
Listed By:
Abel Munoz · License #0842641
(806) 777-5240
Source:
Lubbockhomemarket
Added: Jul 28
Changed: Aug 23
Last Checked: Aug 23 at 6:16AM
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 Broker, LLC
Investment Insights
Based on property information with market context.
Located at 208 Texas Ave in Slaton, this 2,200 SF mixed-use property has been renovated for flexible commercial occupancy. The interior includes five private offices, a spacious conference room, two full bathrooms, and a full kitchen. It is currently operating as an Airbnb, providing an established short-term rental configuration alongside its office-oriented layout.
The property sits one block from Slaton’s historic downtown square. Its existing arrangement can accommodate professional office use, executive suites, short-term rental operations, or boutique hospitality, subject to applicable requirements. The combination of private work areas and shared amenities creates a practical setup for multiple commercial formats.
The property sits one block from Slaton’s historic downtown square. Its existing arrangement can accommodate professional office use, executive suites, short-term rental operations, or boutique hospitality, subject to applicable requirements. The combination of private work areas and shared amenities creates a practical setup for multiple commercial formats.
Key Highlights
- 2,200 SF renovated mixed‑use property
- Five private offices and a spacious conference room
- Two full bathrooms and a full kitchen
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
$17,842
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
6.76%
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%
$356,840
$356.8K
Cap Rate 7%
$254,886
$254.9K
Cap Rate 9%
$198,244
$198.2K
Market Conditions
NOI Build-Up for 2,200 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
$34.6K $15.72/SF
− Vacancy
−$2.1K −$0.97/SF
EGI
$32.4K $14.75/SF
− OpEx
−$14.6K −$6.64/SF
NOI
$17.8K $8.11/SF
Area
Lubbock County, TX
Vacancy
6.20%
Lease Rate
$15.72 /SF/Yr
Expense Ratio
45.00%
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%
$356,840
Cap Rate 7%
$254,886
Cap Rate 9%
$198,244
Alternative Uses
Best Use
Mixed Use
$413.7K
$362.0K – $482.6K
NOI $28,958 @ 7.0% cap · market cap 10.97%
Second Best
Office B
$410.9K
$359.5K – $479.3K
NOI $28,760 @ 7.0% cap · market cap 10.89%
Theoretical Best
Office A
$554.6K
$485.3K – $647.1K
NOI $38,824 @ 7.0% cap · market cap 14.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
180
Businesses Nearby
Explore this area
Business Placement
Demographics for 79364, TX
7,985
Population
2,949
Households
2.7
Avg Household Size
40
Median Age
16%
College-Educated
85%
High-School Grad
210.5 sq mi
ZIP Area
38
Density / Sq Mi
$55,221
Median Household Income
$39,774
Median Earnings
$1,018
Median Rent
$89,200
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Updated interior supports office, executive suite, and short-term rental operations with a conference room, bathrooms, and full kitchen.
Where is this mixed-use property located?
The property is located at 208 Texas Avenue Slaton, TX.
What is the asking price?
The asking price for this property is $264,000.
What are key features of this property?
This property features: 2,200 SF renovated mixed‑use property; Five private offices and a spacious conference room; Two full bathrooms and a full kitchen
