Fenced Flex Space with
For Sale
Contact for pricing
4303 N Fm 2528, Lubbock, TX 79416
Office and warehouse areas include dedicated climate control, controlled access, and on-site covered parking.
Property Size6,000 SF
Price / SF$137.50
Days on Market327
Property Features for 4303 N Fm 2528
General Information
Standard status
Active
Size
6,000 SF
Class
Class A
Total Parking Spaces
4
Property subtype
INDUSTRIAL
Additional Details
Furnished
No
Fenced Yard
Yes
Amenities
reception area
six private offices
conference room
kitchen
file room
copy room
three bathrooms
14' ceilings in lobby
two HVAC units
security alarm system
security cameras
phone system
fiber optic internet
Building Details
Buildings
1
Construction
metal, steel, rock
Listing Agency:
The Powell Group
(806) 239-0804
Listed By:
David Powell, CCIM · License #257988
(806) 239-0804
Source:
Moodyscre
Added: Oct 9, 2025
Changed: Aug 31
Last Checked: Aug 31 at 2:10AM
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 The Powell Group
Investment Insights
Based on property information with market context.
This 6,000-square-foot flex property combines finished office space with a functional warehouse area. The office layout includes a reception area, six private offices, a conference room, kitchen, file room, copy room, and three bathrooms. The lobby features 14-foot ceilings, while two HVAC units provide climate control for the building. The warehouse is heated by gas and has two remote-operated overhead doors.
The site is enclosed by fencing and accessed through a 16-foot remote-controlled gate with an automatic exit sensor. Four covered parking spaces are provided, and the driveway and fenced area have 6-inch reinforced concrete. Additional property systems include well water, a water softener and reverse osmosis system, septic service, fiber optic internet, and a Vexus phone system. Security features include an alarm system and installed cameras. The landscaped front lawn is maintained with an in-ground sprinkler system.
The site is enclosed by fencing and accessed through a 16-foot remote-controlled gate with an automatic exit sensor. Four covered parking spaces are provided, and the driveway and fenced area have 6-inch reinforced concrete. Additional property systems include well water, a water softener and reverse osmosis system, septic service, fiber optic internet, and a Vexus phone system. Security features include an alarm system and installed cameras. The landscaped front lawn is maintained with an in-ground sprinkler system.
Key Highlights
- 6,000‑square‑foot flex building with office and warehouse areas
- Office layout includes six private offices, conference room, kitchen, file room, copy room, and three bathrooms
- Warehouse features gas heat and two remote‑operated overhead doors
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
$67,599
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
8.19%
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%
$1,351,980
$1.4M
Cap Rate 7%
$965,700
$965.7K
Cap Rate 9%
$751,100
$751.1K
Market Conditions
NOI Build-Up for 6,000 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
$104.4K $17.40/SF
− Vacancy
−$7.8K −$1.31/SF
EGI
$96.6K $16.10/SF
− OpEx
−$29.0K −$4.83/SF
NOI
$67.6K $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%
$1,351,980
Cap Rate 7%
$965,700
Cap Rate 9%
$751,100
Alternative Uses
Best Use
Warehouse
$1.17M
$1.03M – $1.37M
NOI $82,084 @ 7.0% cap · market cap 9.95%
Second Best
Office B
$1.12M
$980.4K – $1.31M
NOI $78,435 @ 7.0% cap · market cap 9.51%
Theoretical Best
Office A
$1.51M
$1.32M – $1.76M
NOI $105,883 @ 7.0% cap · market cap 12.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
61
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 - Office and warehouse areas include dedicated climate control, controlled access, and on-site covered parking.
Where is this flex space located?
The property is located at 4303 N Fm 2528 Lubbock, TX.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: 6,000‑square‑foot flex building with office and warehouse areas; Office layout includes six private offices, conference room, kitchen, file room, copy room, and three bathrooms; Warehouse features gas heat and two remote‑operated overhead doors
