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    702 Matador Highway Floydada, TX 79235

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    For Sale
    $205,000

    COMMERCIAL - Floydada, TX

    Type:Office
    Property size:
    7,840 SF
    Lot size:
    2.80 Acres
    Price / SF:
    $26/SF
    Added:
    Jan 31, 2024
    Days on Market:
    827
    Last Refresh:
    May 7 at 8:06 am

    Property Features for 702 Matador Highway

    General Information

    Property type
    Commercial Sale
    Property subtype
    Office
    Standard status
    Active
    APN
    R000006803
    Size
    7,840 SF
    Lot size
    2.80 Acres

    Taxes and HOA fees

    Tax Description
    ACRES: 2.800 TR: BLK: 1 SURV:

    Utilities

    Utilities
    Phone Available
    Sewer type
    Public Sewer
    Heating system
    Natural Gas, Central
    Cooling system
    Electric, Central Air

    Building Details

    Flooring type
    Vinyl, Carpet, Concrete
    Building materials
    Metal Siding, Steel Frame
    Roof type
    Metal

    We can help!

    Listing Contact
    Moe Evans

    Listing agent Moe Evans License #0533726

    Listing office Realty Refined 6401 107th Street, Ste 100, Lubbock, TX

    Listing date Jan 31, 2024

    MLS# 202401348

    Copyright © 2026 Lubbock Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Large asphalt parking lot on 2.8 acres
    • Multiple offices and work areas
    • Includes additional 2.2 acre lot (R04007)
    • Metal siding and steel frame construction
    • Central heating and air conditioning
    • Seller will consider a lease

    Overview

    Former USDA Building in Floydada

    The property is a former USDA building located in Floydada, Texas. It features multiple offices and work areas. The property includes a large asphalt parking lot and is situated on 2.8 acres. Also included is an additional 2.2-acre parcel located just south of the building, identified as R04007. The total property size is 7,840 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Isalis (Bike/Boat/Book/etc) Store Party City Party Supply Store Skunk Funk Big Box & Wholesale Store Carl's Trading Co Hat Shop Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store

    Suggested Use

    Restaurant Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Floydada
    County
    Floyd
    State
    Texas
    Longitude
    -101.3
    Latitude
    33.9416

    Nearby Similar for Sale

    • $159,900
      2,240 SF

      Floydada Commercial Property on Highway

      Commercial property with open layout, parking, and highway access.
      320 N 2nd St, Floydada, TX 79235
      View Details
    • Contact for pricing
      1,472 SF

      Floydada Dental Office For Sale

      Well-maintained dental office building in Floydada, Texas, suitable for various uses.
      508 S 2nd St, Floydada, TX
      View Details
    • $205,000
      7,840 SF

      Floydada Former USDA Building

      Office building with multiple offices and large parking lot.
      702 Matador Highway, Floydada, TX 79235
      View Details

    FAQs

    What type of property is this?
    Office building - Office building with multiple offices, work areas, and large parking.
    Where is this office building located?
    The property is located at 702 Matador Highway Floydada, TX.
    What is the asking price?
    The asking price for this property is $205,000.
    What are key features of this property?
    This property features: Large asphalt parking lot on 2.8 acres; Multiple offices and work areas; Includes additional 2.2 acre lot (R04007)
    (806) 241-0622
    We can help!
    Listing Contact
    Moe Evans
    Real Estate License ID: 0533726
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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