Updated Flex Building with
For Sale
$175,000
3005 S Lake Dr, Texarkana, TX 75501
Heated and cooled layout combines offices, classrooms, and a workroom with overhead doors.
Property Size3,000 SF
Price / SF$58.33
Days on Market46
Property Features for 3005 S Lake Dr
General Information
Standard status
Active
Size
3,000 SF
Total Parking Spaces
29
Site & Location
Road Access
Yes
Utilities to Site
Yes
Additional Details
Drive-In Doors
2
Building Details
Year Built
1978
Year Renovated
2019
Construction
metal building
Listing Agency:
Century 21 All Points Realty
(903) 277-0974
Listed By:
Claudia Snow · License #SA00070704
Source:
Pcsingtolittlerock
Added: Jul 16
Changed: Aug 29
Last Checked: Aug 25 at 5:18AM
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 Realty
Investment Insights
Based on property information with market context.
This 3,000-square-foot flex building was constructed in 1978 and updated in 2019. The heated and cooled interior includes an office area, four classrooms, a workroom or garage, and a half bath. Improvements completed during the update include wiring, sheetrock, interior doors, drop ceilings, and stained concrete floors. Two HVAC units serve the building from secured exterior cages, while two overhead doors support the workroom or garage area.
The property occupies a corner lot at Harrison St. and S. Lake Drive in Texarkana, with access to city services and approximately 20–29 existing on-site parking spaces. The configuration supports office, training, and light industrial functions within a single commercial building.
The property occupies a corner lot at Harrison St. and S. Lake Drive in Texarkana, with access to city services and approximately 20–29 existing on-site parking spaces. The configuration supports office, training, and light industrial functions within a single commercial building.
Key Highlights
- 3,000‑square‑foot flex building on a corner lot
- Updated in 2019 with new wiring, sheetrock, interior doors, drop ceilings, and stained concrete flooring
- Four dedicated classrooms plus an office area and workroom or garage
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
Warehouse
$268.0K
$234.5K – $312.7K
NOI $18,759 @ 7.0% cap · market cap 10.72%
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
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
110
Businesses Nearby
Under-served
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 - Heated and cooled layout combines offices, classrooms, and a workroom 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: 3,000‑square‑foot flex building on a corner lot; Updated in 2019 with new wiring, sheetrock, interior doors, drop ceilings, and stained concrete flooring; Four dedicated classrooms plus an office area and workroom or garage
