Office-Warehouse with
For Sale
Contact for pricing
2304 FM 1585, Lubbock, TX 79423
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$239.89
Days on Market232
Property Features for 2304 FM 1585
General Information
Standard status
Active
Size
7,916 SF
Lot size
4.60 Acres
Property subtype
RETAIL
Site & Location
Highway Access
Yes
Road Access
Yes
Properties For Sale
at 2304 FM 1585
Loop 88 Industrial with Office for Lease
AVAILABLE, Now
Size
7,916 SF
Type
RETAIL
Lease Type
NNN
Sublease
No
Positioned along the newly developed Loop 88 corridor, this 4.6-acre industrial asset offers immediate usability with long-term development upside. The ±7,916 SF office/warehouse includes finished office space, mezzanine, and a functional warehouse layout with multiple overhead doors. The site benefits from strong visibility, frontage, and proximity to Hwy 87, with additional potential through adjacent ownership, assemblage potential and future expansion.
Contact us
Listing Agency:
The Powell Group
Listed By:
David Powell, CCIM · License #0257988
(806) 239-0804
Source:
Moodyscre
Added: Mar 16
Changed: Oct 25
Last Checked: Nov 1 at 6:25AM
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
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Review the available facts, identify missing information and prepare questions for the agent.
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
Estimated NOI and Cap Rate
NOI / Yr
$108,297
Cap Rate
5.70%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,165,940
$2.2M
Cap Rate 7%
$1,547,100
$1.5M
Cap Rate 9%
$1,203,300
$1.2M
Market Conditions
NOI Build-Up for 7,916 SF
Gross rent
$137.7K $17.40/SF
− Vacancy
−$10.3K −$1.31/SF
EGI
$127.4K $16.10/SF
− OpEx
−$19.1K −$2.41/SF
NOI
$108.3K $13.68/SF
Area
Lubbock, TX
Vacancy
7.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,165,940
Cap Rate 7%
$1,547,100
Cap Rate 9%
$1,203,300
Alternative Uses
Best Use
Warehouse
$1.55M
$1.35M – $1.80M
NOI $108,297 @ 7.0% cap · market cap 5.70%
Second Best
Industrial
$1.27M
$1.11M – $1.49M
NOI $89,186 @ 7.0% cap · market cap 4.70%
Theoretical Best
Office A
$2.00M
$1.75M – $2.33M
NOI $139,695 @ 7.0% cap · market cap 7.36%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
18
Businesses Nearby
Well-served
Demand for This Use
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
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
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 $1,899,000.
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
