Versatile Office/Warehouse with Income
3403 107th St, Lubbock, TX 79423
Functional commercial property with unique features in a prime location.
Type:Mixed Use, Office, Retail
Property size:
6,365 SFPrice / SF:
$164/SF- Added:
- Mar 24, 2026
- Days on Market:
- 98
- Last Refresh:
- Mar 25 at 8:54 pm
Property Features for 3403 107th St
General Information
- Standard status
- Active
- Size
- 6,365 SF
- Property subtype
- Mixed Use, Office, Retail
Building Details
- Year Built
- 2021
Listing office McDougal Realtors
Listing date Mar 24, 2026
Source Crexi
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
HighLights
- Prime location on the hard corner of 107th Street and Indiana Avenue in South Lubbock's growing corridor.
- Includes a separate ±1,365 SF income‑producing home to offset ownership costs.
- Unique warehouse space transformed into a professionally graded pickleball/half basketball court.
- Fully secured property with brick/wood privacy fence and electric gate.
- Features four private offices, a full kitchen, and 3 bathrooms (one full with sauna, two half).
- Built in 2021.
Overview
Located at the corner of 107th Street and Indiana Avenue, this 5,000 square foot office/warehouse offers functionality and versatility in South Lubbock. The property is secured with a brick and wood privacy fence and features an electric gate for controlled access. Mature trees line the east side along Indiana, creating privacy and a professional setting. The interior is laid out with four private offices, a full kitchen, one full bathroom with a sauna, and two additional half bathrooms, making it suited for both office and operational use. The warehouse area has been transformed into a professionally graded pickleball court that doubles as a half basketball court. The property includes a separate approximately 1,365 square foot home located just west of the main building. The home is currently income-producing, providing supplemental cash flow. The total property size is 6,365 square feet.
Local Financial Insights For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $110.8k | $17.40 |
| − Vacancy | −$8.3k | −$1.31 |
| EGI | $102.4k | $16.10 |
| − OpEx | −$15.4k | −$2.41 |
| NOI | $87.1k | $13.68 |
6,365 SF · lease $17.40/SF/yr · vacancy 7.50% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$1.24M
$1.09M – $1.45M
NOI $87,078 @ 7.0% cap · market cap 8.29%
Second Best
Mixed Use
$1.20M
$1.05M – $1.40M
NOI $83,779 @ 7.0% cap · market cap 7.98%
Theoretical Best
Office A
$1.60M
$1.40M – $1.87M
NOI $112,324 @ 7.0% cap · market cap 10.70%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Office Units
Location Insight
- Map
- Local Demand
- City
- Lubbock
- County
- Lubbock
- State
- Texas
- Longitude
- -101.889332
- Latitude
- 33.497072
Nearby Similar for Sale
FAQs
What type of property is this?
Mixed-use property - Functional commercial property with unique features in a prime location.
Where is this mixed-use property located?
The property is located at 3403 107th St Lubbock, TX.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: Prime location on the hard corner of 107th Street and Indiana Avenue in South Lubbock's growing corridor.; Includes a separate ±1,365 SF income‑producing home to offset ownership costs.; Unique warehouse space transformed into a professionally graded pickleball/half basketball court.
