Flex Warehouse with Fenced
3202 118TH ST, Lubbock, TX 79423
For Sale
Contact for pricing
The property combines warehouse, conditioned shop, and office areas, with office space available for customization.
Property Size5,200 SF
Lot Size0.56 Acres
Price / SF$163.46
Days on Market15
Property Features for 3202 118TH ST
General Information
Standard status
Size
Total Parking Spaces
Lot size
Property subtype
Zoning
Site & Location
Fenced Yard
Outdoor Storage
Additional Details
Warehouse Space
Property Use
Amenities
Reception
Conference room
Kitchen / wet bar
Building Details
Buildings
Building Size
Listing Agency:
Coldwell Banker Commercial Capital Advisors
Listed By:
Jef Conn
(806) 784-3216
Source:
Crexi
Added: Oct 27
Changed: Nov 8
Last Checked: Nov 10 at 5:52AM
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 Coldwell Banker Commercial Capital Advisors
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Investment Insights
Based on property information with market context.
This flex property includes a 3,640-square-foot warehouse at 3202 118th St, measuring 56 by 65 feet, with two overhead doors measuring 14 by 14 feet. Its office layout includes three offices, a reception area, and a fourth room that can serve as an office or conference room. A kitchen with wet bar and two bathrooms are also provided. The property information describes 5,200 square feet of flex warehouse space across one building that can be purchased.
At 3208 118th St, the shop area is fully conditioned with HVAC. The 3210–3212 118th St offices can be customized. The 0.56-acre tract includes a fenced stack lot with solid R-panel fencing and eight off-street parking spaces; seven spaces are associated with 3202 118th St. Zoning is Heavy Commercial (HC).
At 3208 118th St, the shop area is fully conditioned with HVAC. The 3210–3212 118th St offices can be customized. The 0.56-acre tract includes a fenced stack lot with solid R-panel fencing and eight off-street parking spaces; seven spaces are associated with 3202 118th St. Zoning is Heavy Commercial (HC).
Key Highlights
- 3,640‑square‑foot warehouse measuring 56' x 65'
- Two overhead doors, each 14' x 14'
- Three offices, reception, and a fourth office or conference room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$71,140
Cap Rate
8.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,422,800
$1.4M
Cap Rate 7%
$1,016,286
$1.0M
Cap Rate 9%
$790,444
$790.4K
Market Conditions
NOI Build-Up for 5,200 SF
Gross rent
$90.5K $17.40/SF
− Vacancy
−$6.8K −$1.31/SF
EGI
$83.7K $16.10/SF
− OpEx
−$12.6K −$2.41/SF
NOI
$71.1K $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%
$1,422,800
Cap Rate 7%
$1,016,286
Cap Rate 9%
$790,444
Alternative Uses
Best Use
Warehouse
$1.02M
$889.3K – $1.19M
NOI $71,140 @ 7.0% cap · market cap 8.37%
Second Best
Industrial
$836.9K
$732.3K – $976.4K
NOI $58,586 @ 7.0% cap · market cap 6.89%
Theoretical Best
Office A
$1.31M
$1.15M – $1.53M
NOI $91,765 @ 7.0% cap · market cap 10.80%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
302
Businesses Nearby
Balanced
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
$222,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Flex space in Lubbock, TX
Properties on Market for Flex space in Lubbock
Vacancy Rate% for Industrial in South region
Similar Off Market Nearby
- H-E-B — 4405 114th St, Lubbock, TX 79424
Frequently Asked Questions
What type of property is this?
Flex space - The property combines warehouse, conditioned shop, and office areas, with office space available for customization.
Where is this flex space located?
The property is located at 3202 118TH ST Lubbock, TX.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 3,640‑square‑foot warehouse measuring 56' x 65'; Two overhead doors, each 14' x 14'; Three offices, reception, and a fourth office or conference room
