Flex Space with Roll-Up
For Sale
Contact for pricing
Pending
3904 Ursuline St, Lubbock, TX 79415
Flex space with multiple covered parking and a 484 sq. ft. storage building featuring a large roll-up garage door.
Property Size484 SF
Days on Market355
Property Features for 3904 Ursuline St
General Information
Standard status
Pending
Size
484 SF
Property subtype
INDUSTRIAL
Warehouse & Industrial
Warehouse Space
484 SF
Drive-In Doors
1
Building Details
Buildings
1
Building Size
484 SF
Listing Agency:
Clear Rock Realty
(806) 445-3887
Listed By:
Ruben Trujillo · License #0690204
(806) 445-3887
Source:
Moodyscre
Added: Aug 25, 2025
Changed: Aug 12
Last Checked: Aug 12 at 9:22AM
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 Clear Rock Realty
Investment Insights
Based on property information with market context.
3904 Ursuline St is a flex space property designed to support a range of contractor and service-oriented operations. The site includes multiple covered parking and storage structures, providing space for vehicles, trailers, and equipment. At the core of the property is a 484 sq. ft. storage building with a large roll-up garage door, along with workshop space that can support secure storage and day-to-day work needs.
Located in Lubbock, TX 79415, the property’s layout is geared toward flexible, practical use, whether you need immediate utility for a trades or service business or you’re evaluating opportunities for site adaptation over time.
The combination of covered storage, roll-up access, and workshop functionality offers a versatile setup that can be tailored to the way your operation runs today and as your needs evolve.
Located in Lubbock, TX 79415, the property’s layout is geared toward flexible, practical use, whether you need immediate utility for a trades or service business or you’re evaluating opportunities for site adaptation over time.
The combination of covered storage, roll-up access, and workshop functionality offers a versatile setup that can be tailored to the way your operation runs today and as your needs evolve.
Key Highlights
- Multiple covered parking and storage structures for vehicles, trailers, and equipment
- 484 sq. ft. storage building with a large roll‑up garage door
- Workshop space within the storage building
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
$6,621
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
2.94%
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%
$132,420
$132.4K
Cap Rate 7%
$94,586
$94.6K
Cap Rate 9%
$73,567
$73.6K
Market Conditions
NOI Build-Up for 484 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
$8.4K $17.40/SF
− Vacancy
−$632 −$1.31/SF
EGI
$7.8K $16.10/SF
− OpEx
−$1.2K −$2.41/SF
NOI
$6.6K $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 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%
$132,420
Cap Rate 7%
$94,586
Cap Rate 9%
$73,567
Alternative Uses
Best Use
Warehouse
$94.6K
$82.8K – $110.4K
NOI $6,621 @ 7.0% cap · market cap 2.94%
Second Best
Industrial
$77.9K
$68.2K – $90.9K
NOI $5,453 @ 7.0% cap · market cap 2.42%
Theoretical Best
Office A
$122.0K
$106.8K – $142.4K
NOI $8,541 @ 7.0% cap · market cap 3.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
98
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 79415, TX
17,499
Population
7,225
Households
2.4
Avg Household Size
30
Median Age
26%
College-Educated
77%
High-School Grad
67.8 sq mi
ZIP Area
258
Density / Sq Mi
$37,101
Median Household Income
$25,506
Median Earnings
$956
Median Rent
$94,000
Median Home Value
Market
Vacancy Rate% for Industrial 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 - Flex space with multiple covered parking and a 484 sq. ft. storage building featuring a large roll-up garage door.
Where is this flex space located?
The property is located at 3904 Ursuline St Lubbock, TX.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Multiple covered parking and storage structures for vehicles, trailers, and equipment; 484 sq. ft. storage building with a large roll‑up garage door; Workshop space within the storage building
