Office Warehouse Flex
For Sale
$750,000
516 Eastman, Longview, TX 75602
Flex office and warehouse layout includes private offices, bullpen areas, and a warehouse with loading bay and back parking.
Property Size9,100 SF
Price / SF$82.42
Days on Market385
Property Features for 516 Eastman
General Information
Standard status
Active
Size
9,100 SF
Property subtype
General Commercial
Amenities
3
Listing Agency:
HavenQuest Properties
(903) 931-3473
Listed By:
Harmony Hall
(903) 931-3473
Source:
Xome
Added: Aug 4, 2025
Changed: Aug 15
Last Checked: Aug 22 at 4:58AM
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 HavenQuest Properties
Investment Insights
Based on property information with market context.
This flex facility combines a ready-to-use office component with warehouse space designed for practical operations. The office totals 2,500 square feet and includes 7 private offices plus two open bullpen-like areas sized for additional desks. The warehouse portion totals 6,600 square feet, with functionality supported by a dedicated back parking lot and a loading bay for pickup and drop-off.
Located at 516 S Eastman in Longview, Texas, the property sits right on Eastman Road, offering direct frontage.
Overall, the configuration supports tenants needing both professional office space and on-site warehouse capacity in one property.
Located at 516 S Eastman in Longview, Texas, the property sits right on Eastman Road, offering direct frontage.
Overall, the configuration supports tenants needing both professional office space and on-site warehouse capacity in one property.
Key Highlights
- Office space totals 2,500 SF with 7 private offices plus two open bullpen areas for 7–10 desks
- Warehouse space totals 6,600 SF for storage, distribution, or light industrial operations
- Dedicated back parking lot and loading bay for pickup and drop‑off
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
$64,547
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
8.61%
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%
$1,290,940
$1.3M
Cap Rate 7%
$922,100
$922.1K
Cap Rate 9%
$717,189
$717.2K
Market Conditions
NOI Build-Up for 9,100 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
$83.0K $9.12/SF
− Vacancy
−$7.1K −$0.78/SF
EGI
$75.9K $8.34/SF
− OpEx
−$11.4K −$1.25/SF
NOI
$64.5K $7.09/SF
Area
Gregg County, TX
Vacancy
8.50%
Lease Rate
$9.12 /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%
$1,290,940
Cap Rate 7%
$922,100
Cap Rate 9%
$717,189
Alternative Uses
Best Use
Office B
$2.17M
$1.90M – $2.54M
NOI $152,216 @ 7.0% cap · market cap 20.30%
Second Best
Warehouse
$922.1K
$806.8K – $1.08M
NOI $64,547 @ 7.0% cap · market cap 8.61%
Theoretical Best
Hotel Hospitality
$6.85M
$6.00M – $8.00M
NOI $479,798 @ 7.0% cap · market cap 63.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
196
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 75602, TX
22,041
Population
8,131
Households
2.7
Avg Household Size
33
Median Age
14%
College-Educated
79%
High-School Grad
51.9 sq mi
ZIP Area
425
Density / Sq Mi
$56,659
Median Household Income
$30,199
Median Earnings
$970
Median Rent
$122,700
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 - Flex office and warehouse layout includes private offices, bullpen areas, and a warehouse with loading bay and back parking.
Where is this flex space located?
The property is located at 516 Eastman Longview, TX.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Office space totals 2,500 SF with 7 private offices plus two open bullpen areas for 7–10 desks; Warehouse space totals 6,600 SF for storage, distribution, or light industrial operations; Dedicated back parking lot and loading bay for pickup and drop‑off
