Turnkey Flex Building with
For Sale
$175,000
3005 S Lake Dr, Texarkana, TX 75501
Move-in-ready corner flex property with office, four classrooms, and a heated workroom/garage with overhead doors.
Property Size3,000 SF
Price / SF$58.33
Days on Market111
Property Features for 3005 S Lake Dr
General Information
Standard status
Active
Size
3,000 SF
Total Parking Spaces
29
Additional Details
Business Included
Yes
Drive-In Doors
2
Building Details
Year Renovated
2019
Tenancy
Single
Listing Agency:
Century 21 All Points
(903) 277-0974
Listed By:
Claudia Snow · License #SA00070704
(903) 277-0974
Source:
Exprealty
Added: Apr 23
Changed: Jul 10
Last Checked: Aug 10 at 8:53AM
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 Century 21 All Points
Investment Insights
Based on property information with market context.
This versatile metal building is currently configured for the Texarkana Electrical Joint Apprenticeship Training Committee and is presented as a turnkey, move-in-ready facility. Updates in 2019 include modern interior finishes such as new wiring, sheetrock, interior doors, drop ceilings, and stained concrete flooring. The layout provides a fully heated and cooled office area, four dedicated classrooms, and a spacious workroom/garage suited to hands-on operations. The workroom/garage includes two overhead doors for practical equipment and service access, and there is a half bath on-site. Climate control is supported by two HVAC units housed in exterior cages.
The property sits on a corner lot at Harrison St. and S. Lake Drive and is positioned for straightforward access. It offers approximately 20–29 on-site parking spaces and is connected to city services.
For tenants and buyers seeking flex or training-focused space, the combination of conditioned office/classroom rooms and a garage area with overhead doors supports both instruction and light service workflows. Because it is fully equipped with modernized interior systems and has ongoing operational coverage for taxes, insurance, utilities, and required services as described, it can be a practical option for educational, trade, or light industrial use.
The property sits on a corner lot at Harrison St. and S. Lake Drive and is positioned for straightforward access. It offers approximately 20–29 on-site parking spaces and is connected to city services.
For tenants and buyers seeking flex or training-focused space, the combination of conditioned office/classroom rooms and a garage area with overhead doors supports both instruction and light service workflows. Because it is fully equipped with modernized interior systems and has ongoing operational coverage for taxes, insurance, utilities, and required services as described, it can be a practical option for educational, trade, or light industrial use.
Key Highlights
- High‑visibility corner at Harrison St. and S. Lake Drive with ample on‑site parking for ~20–29 spaces
- Metal building configured for training, office, or light industrial use with fully heated and cooled interior
- 2019 updates include new wiring, sheetrock, interior doors, drop ceilings, and stained concrete flooring
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
$15,449
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
8.83%
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%
$308,980
$309.0K
Cap Rate 7%
$220,700
$220.7K
Cap Rate 9%
$171,656
$171.7K
Market Conditions
NOI Build-Up for 3,000 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
$24.1K $8.04/SF
− Vacancy
−$2.1K −$0.68/SF
EGI
$22.1K $7.36/SF
− OpEx
−$6.6K −$2.21/SF
NOI
$15.4K $5.15/SF
Area
Bowie County, TX
Vacancy
8.50%
Lease Rate
$8.04 /SF/Yr
Expense Ratio
30.00%
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%
$308,980
Cap Rate 7%
$220,700
Cap Rate 9%
$171,656
Alternative Uses
Best Use
Office B
$716.9K
$627.3K – $836.4K
NOI $50,181 @ 7.0% cap · market cap 28.67%
Second Best
Industrial
$220.7K
$193.1K – $257.5K
NOI $15,449 @ 7.0% cap · market cap 8.83%
Theoretical Best
Hotel Hospitality
$2.26M
$1.98M – $2.64M
NOI $158,175 @ 7.0% cap · market cap 90.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Drive-in doors
Single-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
97
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 75501, TX
36,423
Population
15,302
Households
2.4
Avg Household Size
38
Median Age
15%
College-Educated
86%
High-School Grad
96.3 sq mi
ZIP Area
378
Density / Sq Mi
$46,782
Median Household Income
$33,758
Median Earnings
$904
Median Rent
$125,700
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 - Move-in-ready corner flex property with office, four classrooms, and a heated workroom/garage with overhead doors.
Where is this flex space located?
The property is located at 3005 S Lake Dr Texarkana, TX.
What is the asking price?
The asking price for this property is $175,000.
What are key features of this property?
This property features: High‑visibility corner at Harrison St. and S. Lake Drive with ample on‑site parking for ~20–29 spaces; Metal building configured for training, office, or light industrial use with fully heated and cooled interior; 2019 updates include new wiring, sheetrock, interior doors, drop ceilings, and stained concrete flooring
