Flex Warehouse with Office
New
For Sale
Contact for pricing
3202-3212 118th St, Lubbock, TX 79423
Heavy commercial zoning accompanies warehouse space, multiple offices, and a fenced outdoor storage area.
Property Size5,200 SF
Lot Size0.56 Acres
Price / SF$163.46
Days on Market7
Property Features for 3202-3212 118th St
General Information
Standard status
Active
Size
5,200 SF
Total Parking Spaces
7
Lot size
0.56 Acres
Property subtype
INDUSTRIAL
Zoning
Heavy Commercial
Site & Location
Fenced Yard
Yes
Outdoor Storage
Yes
Additional Details
Warehouse Space
3,640 SF
Property Use
Flex
Building Details
Buildings
1
Listing Agency:
Coldwell Banker Commercial Capital Advisors
(806) 793-0888
Listed By:
Jef Conn CCIM SIOR
(806) 787-4779
Source:
Moodyscre
Added: Oct 27
Changed: Oct 30
Last Checked: Nov 1 at 9:16AM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The flex property combines warehouse space with an office component that includes three offices, reception, and a fourth office or conference room. Each building is described with two 14-by-14-foot overhead doors, a kitchen or wet bar, and two bathrooms. The shop at 3208 118th Street has HVAC, while office areas at 3210-3212 118th Street can be customized.
The property occupies a 0.56-acre tract with a fenced stack lot enclosed by solid R-panel fencing. The 3202 118th Street building has seven off-street parking spaces.
The property occupies a 0.56-acre tract with a fenced stack lot enclosed by solid R-panel fencing. The 3202 118th Street building has seven off-street parking spaces.
Key Highlights
- 0.56‑acre tract with a fenced stack lot and solid R‑panel fencing
- Each building includes three offices, reception, and an additional office or conference room
- Two 14‑by‑14‑foot overhead doors per building
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.
How Realmo checks its estimates
Property Analytics
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
Market
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 - Heavy commercial zoning accompanies warehouse space, multiple offices, and a fenced outdoor storage area.
Where is this flex space located?
The property is located at 3202-3212 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: 0.56‑acre tract with a fenced stack lot and solid R‑panel fencing; Each building includes three offices, reception, and an additional office or conference room; Two 14‑by‑14‑foot overhead doors per building
