Updated Flex Building with
For Sale
$175,000
3005 S Lake Drive, Texarkana, TX 75501
Commercial / Industrial, Texarkana, TX
Property Size3,000 SF
Lot Size0.38 Acres
Price / SF$58.33
Days on Market170
Property Features for 3005 S Lake Drive
General Information
Property type
Residential
Property subtype
Office
Security features
Security
Exterior features
Security
Lot features
Level
Directions
From S. Robison Road, turn East onto S. Lake Dr. #3005 is on your right - a few doors past Dairy Queen
Subdivision
Liberty-Eylau
Standard status
Active
Size
3,000 SF
Lot size
0.38 Acres
Taxes and HOA fees
Tax Annual Amount
2704
Building Details
Year built
1978
Floors in Building
1
Flooring type
Concrete
Roof type
Metal
Listing Agency:
Century 21 All Points Realty
(903) 832-4561
Listed By:
Claudia Snow · License #SA00070704
(903) 277-0974
Added: Mar 23
Changed: Sep 5
Last Checked: Sep 8 at 6:06AM
MLS# 26016307
Copyright © 2026 Cooperative Arkansas Realtors Multiple Listing Service. 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.
This 3,000-square-foot flex building was constructed in 1978 and updated in 2019 with new wiring, sheetrock, interior doors, drop ceilings, and stained concrete floors. The heated and cooled layout includes an office area, four classrooms, a workroom/garage, and a half bath. Two HVAC systems are housed in exterior security cages, while the metal exterior and concrete flooring support practical commercial use.
The property occupies a corner lot at Harrison St. and S. Lake Drive in Texarkana, with approximately 20-29 existing parking spaces and connections to city services. Two overhead doors provide access to the workroom/garage, supporting hands-on training, service operations, or other light industrial activities. The building is currently configured for the Texarkana Electrical Joint Apprenticeship Training Committee.
The property occupies a corner lot at Harrison St. and S. Lake Drive in Texarkana, with approximately 20-29 existing parking spaces and connections to city services. Two overhead doors provide access to the workroom/garage, supporting hands-on training, service operations, or other light industrial activities. The building is currently configured for the Texarkana Electrical Joint Apprenticeship Training Committee.
Key Highlights
- 3,000‑square‑foot flex building on a corner lot
- Updated in 2019 with new wiring, sheetrock, doors, ceilings, and stained concrete floors
- Four dedicated classrooms plus office space and a workroom/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
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
Single-tenant
Tenancy
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Heated and cooled commercial space combines offices, classrooms, and a workroom with 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: 3,000‑square‑foot flex building on a corner lot; Updated in 2019 with new wiring, sheetrock, doors, ceilings, and stained concrete floors; Four dedicated classrooms plus office space and a workroom/garage
