New Construction Flex
New
For Sale
$4,200,000
2302 Neiman Marcus Pkwy, Longview, TX 75602
Industrial facility with secured yard, office support, specialized shop improvements, and crane-served warehouse space.
Property Size13,782 SF
Price / SF$304.75
Days on Market3
Property Features for 2302 Neiman Marcus Pkwy
General Information
Standard status
Active
Size
13,782 SF
Property subtype
Industrial
Listing Agency:
Drake Real Estate & Investments
(903) 405-1954
Listed By:
Hagan Baker · License #75703
(903) 405-1954
Source:
Draketexas
Added: Aug 20
Changed: Aug 21
Last Checked: Aug 21 at 5:14AM
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 Drake Real Estate & Investments
Investment Insights
Based on property information with market context.
Completed in 2025, this flex property combines office, warehouse, and industrial service areas within a single facility. The 2,000-square-foot office component includes four offices, reception, a conference room, copy room, kitchen, locker room, and breakroom. The 9,882-square-foot warehouse includes a paint booth, wash bay, pull-through bays, a 10-ton bridge crane, and two 2-ton jib cranes. A 1,900-square-foot mezzanine provides additional office and breakroom space.
The property is located in Longview EDC Industrial Park at 2302 Neiman Marcus Pkwy, Longview, TX 75602. Exterior features include a rocked yard, security fencing, and an electronic gate, with excess yard area available.
The property is located in Longview EDC Industrial Park at 2302 Neiman Marcus Pkwy, Longview, TX 75602. Exterior features include a rocked yard, security fencing, and an electronic gate, with excess yard area available.
Key Highlights
- 13,782 SF total property size
- 2,000 SF office area with four offices, reception, conference room, copy room, and kitchen
- 9,882 SF warehouse with paint booth, locker room, wash bay, and pull‑through bays
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
$230,532
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
5.49%
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%
$4,610,640
$4.6M
Cap Rate 7%
$3,293,314
$3.3M
Cap Rate 9%
$2,561,467
$2.6M
Market Conditions
NOI Build-Up for 13,782 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
$423.4K $30.72/SF
− Vacancy
−$116.0K −$8.42/SF
EGI
$307.4K $22.30/SF
− OpEx
−$76.8K −$5.58/SF
NOI
$230.5K $16.73/SF
Area
Gregg County, TX
Vacancy
27.40%
Lease Rate
$30.72 /SF/Yr
Expense Ratio
25.00%
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%
$4,610,640
Cap Rate 7%
$3,293,314
Cap Rate 9%
$2,561,467
Alternative Uses
Best Use
Office B
$3.29M
$2.88M – $3.84M
NOI $230,532 @ 7.0% cap · market cap 5.49%
Second Best
Warehouse
$1.40M
$1.22M – $1.63M
NOI $97,757 @ 7.0% cap · market cap 2.33%
Theoretical Best
Hotel Hospitality
$10.38M
$9.08M – $12.11M
NOI $726,656 @ 7.0% cap · market cap 17.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
44
Businesses Nearby
Well-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 Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Industrial facility with secured yard, office support, specialized shop improvements, and crane-served warehouse space.
Where is this flex space located?
The property is located at 2302 Neiman Marcus Pkwy Longview, TX.
What is the asking price?
The asking price for this property is $4,200,000.
What are key features of this property?
This property features: 13,782 SF total property size; 2,000 SF office area with four offices, reception, conference room, copy room, and kitchen; 9,882 SF warehouse with paint booth, locker room, wash bay, and pull‑through bays
