RV Park with On-Site
New
For Sale
$650,000
2203 Woodrow Road, Lubbock, TX 79423
Commercial Sale, Lubbock, TX
Property Size3,168 SF
Lot Size3.00 Acres
Price / SF$205.18
Days on Market3
Property Features for 2203 Woodrow Road
General Information
Property type
Commercial Sale
Property subtype
Other
Elementary school district
Lubbock-Cooper ISD
Middle school district
Lubbock-Cooper ISD
High school district
Lubbock-Cooper ISD
Subdivision
11
Standard status
Active
APN
R94375
Size
3,168 SF
Lot size
3.00 Acres
Taxes and HOA fees
Tax Description
Blk 20 Sec 26 Ab 1493 Tr We5 Nw/4 Ac: 3
Tax Annual Amount
1276
Legal Description
Blk 20 Sec 26 Ab 1493 Tr We5 Nw/4 Ac: 3
Building Details
Year built
2000
Listing Agency:
Better Homes and Gardens · Better Homes and Gardens Real Estate
(806) 778-9940
Listed By:
Joe Montano · License #0677661
(575) 760-1141
Added: Sep 14
Last Checked: Sep 16 at 6:06PM
MLS# 202612743
Copyright © 2026 Lubbock Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This RV park occupies 3 acres and includes a 3,168-square-foot building constructed in 2000. The property is identified as a mobile home and RV park and is offered for sale.
The site is located at 2203 Woodrow Road in Lubbock, Texas, within ZIP Code 79423. Its existing land area and on-site building provide the core physical components of the property.
The site is located at 2203 Woodrow Road in Lubbock, Texas, within ZIP Code 79423. Its existing land area and on-site building provide the core physical components of the property.
Key Highlights
- 3‑acre RV park property
- 3,168‑square‑foot on‑site building
- Building constructed in 2000
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
$25,692
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
3.95%
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%
$513,840
$513.8K
Cap Rate 7%
$367,029
$367.0K
Cap Rate 9%
$285,467
$285.5K
Market Conditions
NOI Build-Up for 3,168 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
$49.8K $15.72/SF
− Vacancy
−$3.1K −$0.97/SF
EGI
$46.7K $14.75/SF
− OpEx
−$21.0K −$6.64/SF
NOI
$25.7K $8.11/SF
Area
Lubbock, 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%
$513,840
Cap Rate 7%
$367,029
Cap Rate 9%
$285,467
Alternative Uses
Best Use
Apartment 5plus
$367.0K
$321.2K – $428.2K
NOI $25,692 @ 7.0% cap · market cap 3.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$798.7K
$698.8K – $931.8K
NOI $55,906 @ 7.0% cap · market cap 8.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
22
Businesses Nearby
Explore this area
Business Placement
Demographics for 79423, TX
42,311
Population
18,463
Households
2.3
Avg Household Size
35
Median Age
38%
College-Educated
94%
High-School Grad
64.2 sq mi
ZIP Area
659
Density / Sq Mi
$82,906
Median Household Income
$45,520
Median Earnings
$1,284
Median Rent
$222,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mobile home & RV park - Three-acre RV park with an on-site building and established improvements in Lubbock, Texas.
Where is this mobile home & rv park located?
The property is located at 2203 Woodrow Road Lubbock, TX.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 3‑acre RV park property; 3,168‑square‑foot on‑site building; Building constructed in 2000
