Church Facility with Flex
For Sale
Contact for pricing
7201 MARSHA SHARP FWY, Lubbock, TX 79407
Two buildings combine worship, classroom, office, and open-plan space with surrounding parking.
Property Size18,122 SF
Price / SF$135.19
Days on Market170
Property Features for 7201 MARSHA SHARP FWY
General Information
Standard status
Active
Size
18,122 SF
Class
B
Property subtype
Retail, Office, Special Purpose
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
2000
Buildings
2
Units
31
Building Size
18,122 SF
Listing Agency:
McDougal Realtors
Listed By:
Ethan Quisenberry · License #TX
(806) 317-0234
Source:
Crexi
Added: May 1
Changed: Oct 14
Last Checked: Oct 16 at 9:30AM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This church facility includes two heated and cooled buildings totaling 18,122 SF. The 14,097 SF main building contains offices, classrooms, and an auditorium, while the 4,025 SF secondary building provides an open interior currently used for youth activities. The configuration supports continued religious use along with educational or office applications.
The property is located at 7201 Marsha Sharp Fwy in Lubbock, along the freeway frontage road. Parking surrounds the primary improvements, and the sale includes an adjacent 0.4-acre paved tract. That parcel also contains a 7-unit storage building, adding separate storage capacity or owner-use space. The improvements were built in 2000.
The property is located at 7201 Marsha Sharp Fwy in Lubbock, along the freeway frontage road. Parking surrounds the primary improvements, and the sale includes an adjacent 0.4-acre paved tract. That parcel also contains a 7-unit storage building, adding separate storage capacity or owner-use space. The improvements were built in 2000.
Key Highlights
- 18,122 SF across two heated and cooled buildings
- 14,097 SF main building with offices, classrooms, and auditorium
- 4,025 SF secondary building with open‑plan interior
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$204,172
Cap Rate
8.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,083,440
$4.1M
Cap Rate 7%
$2,916,743
$2.9M
Cap Rate 9%
$2,268,578
$2.3M
Market Conditions
NOI Build-Up for 18,122 SF
Gross rent
$315.3K $17.40/SF
− Vacancy
−$23.6K −$1.31/SF
EGI
$291.7K $16.10/SF
− OpEx
−$87.5K −$4.83/SF
NOI
$204.2K $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 Rate 5%
$4,083,440
Cap Rate 7%
$2,916,743
Cap Rate 9%
$2,268,578
Alternative Uses
Best Use
Industrial
$2.92M
$2.55M – $3.40M
NOI $204,172 @ 7.0% cap · market cap 8.33%
Second Best
Flex RnD
$2.88M
$2.52M – $3.36M
NOI $201,567 @ 7.0% cap · market cap 8.23%
Theoretical Best
Office A
$4.57M
$4.00M – $5.33M
NOI $319,803 @ 7.0% cap · market cap 13.05%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
136
Businesses Nearby
Explore this area
Business Placement
Demographics for 79407, TX
23,208
Population
11,817
Households
2
Avg Household Size
32
Median Age
41%
College-Educated
92%
High-School Grad
75.9 sq mi
ZIP Area
306
Density / Sq Mi
$64,778
Median Household Income
$38,212
Median Earnings
$1,131
Median Rent
$200,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Church & religious facility - Two buildings combine worship, classroom, office, and open-plan space with surrounding parking.
Where is this church & religious facility located?
The property is located at 7201 MARSHA SHARP FWY Lubbock, TX.
What is the asking price?
The asking price for this property is $2,450,000.
What are key features of this property?
This property features: 18,122 SF across two heated and cooled buildings; 14,097 SF main building with offices, classrooms, and auditorium; 4,025 SF secondary building with open‑plan interior
