Office-Warehouse with
2304 FM 1585 Lubbock, TX 79423
For Sale
Contact for pricing
Office-warehouse with heated and air-conditioned mezzanine office and a warehouse area supported by six overhead doors.
Property Size7,916 SF
Lot Size4.60 Acres
Price / SF$265.29
Days on Market131
Property Features for 2304 FM 1585
General Information
- Standard status
- Active
- Size
- 7,916 SF
- Lot size
- 4.60 Acres
- Property subtype
- RETAIL
Listing Agency:
The Powell Group
(806) 239-0804
Listed By:
David Powell, CCIM · License #257988
(806) 239-0804
Source:
Moodyscre
Added: Mar 16
Changed: Jul 23
Last Checked: Jul 23 at 3:51AM
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 The Powell Group
Investment Insights
Based on property information with market context.
This office-warehouse property includes a total 7,916 SF combined office and warehouse configuration on 4.6 acres. The mezzanine office is heated and air-conditioned, and there is also an office at ground level. The upstairs office encompasses two office spaces, providing multiple dedicated work areas.
The warehouse portion is 5,071 SF and is served by six overhead doors to support loading and day-to-day operations. The property is located on FM 1585 in Lubbock, TX, and the public remarks note strong visibility along Loop 88.
With both ground-level and mezzanine office areas connected to a functional warehouse with multiple overhead doors, the layout can support businesses that need on-site office space alongside warehouse operations.
The warehouse portion is 5,071 SF and is served by six overhead doors to support loading and day-to-day operations. The property is located on FM 1585 in Lubbock, TX, and the public remarks note strong visibility along Loop 88.
With both ground-level and mezzanine office areas connected to a functional warehouse with multiple overhead doors, the layout can support businesses that need on-site office space alongside warehouse operations.
Key Highlights
- 7,916 SF office/warehouse on 4.6 acres in south Lubbock near Loop 88
- Heated and air‑conditioned mezzanine office with two office spaces upstairs
- Ground‑level office included
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 | $137.7k | $17.40 |
| − Vacancy | −$10.3k | −$1.31 |
| EGI | $127.4k | $16.10 |
| − OpEx | −$19.1k | −$2.41 |
| NOI | $108.3k | $13.68 |
7,916 SF · lease $17.40/SF/yr · vacancy 7.50% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$1.55M
$1.35M – $1.80M
NOI $108,297 @ 7.0% cap · market cap 5.16%
Second Best
Office B
$1.48M
$1.29M – $1.72M
NOI $103,482 @ 7.0% cap · market cap 4.93%
Theoretical Best
Office A
$2.00M
$1.75M – $2.33M
NOI $139,695 @ 7.0% cap · market cap 6.65%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Hardy Trees & Nursery ...
Landscaping
FAQs
What type of property is this?
Flex space - Office-warehouse with heated and air-conditioned mezzanine office and a warehouse area supported by six overhead doors.
Where is this flex space located?
The property is located at 2304 FM 1585 Lubbock, TX.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: 7,916 SF office/warehouse on 4.6 acres in south Lubbock near Loop 88; Heated and air‑conditioned mezzanine office with two office spaces upstairs; Ground‑level office included
