Flex Industrial Office/Warehouse
For Sale
$1,200,000
3913 County Road 1350, Lubbock, TX 79416
New construction flex building with insulated warehouse, dock-high and grade-level doors, and a dedicated office suite.
Property Size9,549 SF
Price / SF$125.67
Days on Market144
Property Features for 3913 County Road 1350
General Information
Standard status
Active
Size
9,549 SF
Listing Agency:
McDougal, REALTORS
(806) 789-5444
Listed By:
Jena Reeves · License #770983
(806) 789-5444
Source:
Exprealty
Added: Mar 23
Changed: Jul 10
Last Checked: Aug 12 at 11:29AM
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.
This newly constructed metal flex building is set on a 1-acre lot and combines warehouse space with an office component. The office totals 2,056 sq ft and includes seven offices, a lobby, kitchen/break room, and one bathroom, with vinyl plank floors, brick accent walls, and granite countertops. The warehouse area is foam insulated and designed for loading flexibility, featuring one 10' overhead door attached to a dock-high loading dock with a dock leveler, plus one 10' grade-level overhead door and two 14' grade-level overhead doors. The warehouse also has its own restroom and 20' sidewalls. The property has concrete front parking and a 7' metal fence surrounding the crushed asphalt stack yard. Final touchups are still needed.
The building is located in the Inler Business Park and is positioned out of the city limits. It is served by its own well and septic, and SPEC electricity is noted. Atmos natural gas and optimum high-speed internet are available.
For tenants, the layout supports a mix of operations and administration, with multiple private offices alongside a functional, insulated warehouse served by dock-high and grade-level access. For buyers, the combination of dedicated office space, substantial loading door options, and yard/fencing can fit a range of light industrial and distribution users seeking an on-site work and office setup.
The building is located in the Inler Business Park and is positioned out of the city limits. It is served by its own well and septic, and SPEC electricity is noted. Atmos natural gas and optimum high-speed internet are available.
For tenants, the layout supports a mix of operations and administration, with multiple private offices alongside a functional, insulated warehouse served by dock-high and grade-level access. For buyers, the combination of dedicated office space, substantial loading door options, and yard/fencing can fit a range of light industrial and distribution users seeking an on-site work and office setup.
Key Highlights
- New construction metal flex building on a 1‑acre lot in Inler Business Park
- Total building area: 9,548.5 SF, including 2,056 SF office and 7,492 SF warehouse
- Office includes 7 offices, lobby, kitchen/break room, 1 bathroom, vinyl plank floors, brick accent walls, and granite countertops
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
$107,584
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
8.97%
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%
$2,151,680
$2.2M
Cap Rate 7%
$1,536,914
$1.5M
Cap Rate 9%
$1,195,378
$1.2M
Market Conditions
NOI Build-Up for 9,549 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
$166.2K $17.40/SF
− Vacancy
−$12.5K −$1.31/SF
EGI
$153.7K $16.10/SF
− OpEx
−$46.1K −$4.83/SF
NOI
$107.6K $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 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%
$2,151,680
Cap Rate 7%
$1,536,914
Cap Rate 9%
$1,195,378
Alternative Uses
Best Use
Warehouse
$1.87M
$1.63M – $2.18M
NOI $130,637 @ 7.0% cap · market cap 10.89%
Second Best
Office B
$1.78M
$1.56M – $2.08M
NOI $124,829 @ 7.0% cap · market cap 10.40%
Theoretical Best
Office A
$2.41M
$2.11M – $2.81M
NOI $168,513 @ 7.0% cap · market cap 14.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
10
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 79416, TX
36,251
Population
16,094
Households
2.3
Avg Household Size
30
Median Age
39%
College-Educated
93%
High-School Grad
32.1 sq mi
ZIP Area
1,129
Density / Sq Mi
$65,200
Median Household Income
$34,258
Median Earnings
$1,269
Median Rent
$196,900
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - New construction flex building with insulated warehouse, dock-high and grade-level doors, and a dedicated office suite.
Where is this flex space located?
The property is located at 3913 County Road 1350 Lubbock, TX.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: New construction metal flex building on a 1‑acre lot in Inler Business Park; Total building area: 9,548.5 SF, including 2,056 SF office and 7,492 SF warehouse; Office includes 7 offices, lobby, kitchen/break room, 1 bathroom, vinyl plank floors, brick accent walls, and granite countertops
