Modern Office/Warehouse in Growing
For Sale
Contact for pricing
3205 118th St, Lubbock, TX 79423
Modern, flexible office/warehouse space in South Lubbock's Four Fields.
Property Size9,010 SF
Price / SF$138.73
Days on Market252
Property Features for 3205 118th St
General Information
Standard status
Active
Size
9,010 SF
Class
A
Property subtype
Industrial, Mixed Use, Office, Retail
Zoning
HC
Lease Type
NNN
Building Details
Year Built
2025
Buildings
1
Stories
1
Units
1
Tenancy
Single
Listing Agency:
McDougal Realtors
Listed By:
Ethan Quisenberry · License #TX
(806) 317-0234
Source:
Crexi
Added: Jan 28
Changed: Sep 18
Last Checked: Oct 7 at 11:05AM
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 McDougal Realtors
Investment Insights
Based on property information with market context.
Located in the expanding Four Fields Business Park in South Lubbock, 3205 118th St. is a modern office/warehouse facility available for sale. The property features 9,010 square feet of total space, including 1,797 square feet of office space and 7,213 square feet of warehouse space. The warehouse includes three 14-foot grade-level overhead doors for accessibility and is equipped with heaters.
Key Highlights
- Modern office/warehouse facility in the growing Four Fields Business Park.
- 9,010 square feet of total space, including 1,797 sq ft of office space and 7,213 sq ft of warehouse.
- Located in South Lubbock, off 118th Street and Indiana Avenue.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$101,511
Cap Rate
8.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,030,220
$2.0M
Cap Rate 7%
$1,450,157
$1.5M
Cap Rate 9%
$1,127,900
$1.1M
Market Conditions
NOI Build-Up for 9,010 SF
Gross rent
$156.8K $17.40/SF
− Vacancy
−$11.8K −$1.31/SF
EGI
$145.0K $16.10/SF
− OpEx
−$43.5K −$4.83/SF
NOI
$101.5K $11.27/SF
Area
Lubbock, TX
Vacancy
7.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,030,220
Cap Rate 7%
$1,450,157
Cap Rate 9%
$1,127,900
Alternative Uses
Best Use
Industrial
$1.45M
$1.27M – $1.69M
NOI $101,511 @ 7.0% cap · market cap 8.12%
Second Best
Flex RnD
$1.43M
$1.25M – $1.67M
NOI $100,216 @ 7.0% cap · market cap 8.02%
Theoretical Best
Office A
$2.27M
$1.99M – $2.65M
NOI $159,001 @ 7.0% cap · market cap 12.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
133
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Flex space - Modern, flexible office/warehouse space in South Lubbock's Four Fields.
Where is this flex space located?
The property is located at 3205 118th St Lubbock, TX.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Modern office/warehouse facility in the growing Four Fields Business Park.; 9,010 square feet of total space, including 1,797 sq ft of office space and 7,213 sq ft of warehouse.; Located in South Lubbock, off 118th Street and Indiana Avenue.
