Flex Space Building on Corner
For Sale
$175,000
3005 S Lake Drive, Texarkana, TX 75501
COMMERCIAL - Texarkana, TX
Property Size3,000 SF
Lot Size0.38 Acres
Price / SF$58.33
Days on Market122
Property Features for 3005 S Lake Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Parking
20
Window features
Double Pane Windows
Subdivision
J W JOHNSON A-308
Lot features
Corner Lot
Directions
From S. Robison Road, turn East onto S. Lake Drive. #3005 is on your right - a few doors past Dairy Queen
Standard status
Active
Size
3,000 SF
Lot size
0.38 Acres
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Electric, Central Air
Water source
Public
Building Details
Year built
1978
Floors in Building
1
Flooring type
Concrete
Building materials
Metal Siding
Roof type
Metal
Listing Agency:
Century 21 All Points
(903) 832-4561
Listed By:
Claudia Snow · License #SA00070704
(903) 277-0974
Added: Apr 24
Changed: Aug 4
Last Checked: Aug 23 at 12:06PM
MLS# 204840
Copyright © 2026 Texarkana Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Positioned on a high-visibility corner at Harrison St. and S. Lake Drive, this flex space building is a metal construction facility with a heated and cooled office configuration plus four dedicated classrooms. The workroom/garage includes two overhead doors, making the space well-suited for hands-on training or light service operations. A half bath is located on-site, and durable stained concrete flooring runs throughout.
The property was updated in 2019 with new wiring, sheetrock, interior doors, and drop ceilings. Climate control is supported by two HVAC units secured in exterior cages. Built in 1978, the building offers central electric heating and central air cooling, with public water and public sewer connected, plus cable availability.
Set on a 0.38-acre lot with approximately 20-29 on-site parking spaces, the facility is connected to city services for day-to-day operational efficiency.
The property was updated in 2019 with new wiring, sheetrock, interior doors, and drop ceilings. Climate control is supported by two HVAC units secured in exterior cages. Built in 1978, the building offers central electric heating and central air cooling, with public water and public sewer connected, plus cable availability.
Set on a 0.38-acre lot with approximately 20-29 on-site parking spaces, the facility is connected to city services for day-to-day operational efficiency.
Key Highlights
- 0.38‑acre corner lot on Harrison St. and S. Lake Drive
- 3,000 SF metal flex space building built in 1978
- 2019 updates include new wiring, sheetrock, interior doors, and drop ceilings
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
Industrial
$220.7K
$193.1K – $257.5K
NOI $15,449 @ 7.0% cap · market cap 8.83%
Second Best
Flex RnD
$213.0K
$186.4K – $248.5K
NOI $14,910 @ 7.0% cap · market cap 8.52%
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 Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - 2019 updates include new wiring and interior finishes, with four classrooms and a workroom/garage with two overhead doors.
Where is this flex space located?
The property is located at 3005 S Lake Drive 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: 0.38‑acre corner lot on Harrison St. and S. Lake Drive; 3,000 SF metal flex space building built in 1978; 2019 updates include new wiring, sheetrock, interior doors, and drop ceilings
