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    3708 Eastman Rd Longview, TX 75602

    Sponsored
    For Sale
    $2,300,000

    18,645 SF Warehouse, 3.68 Acres, 2022 Renovation

    Property size:
    18,645 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    410
    This exceptional industrial property in Longview, Texas, presents a compelling investment opportunity. The 18,645-square-foot facility sits on a generous 3.686-acre lot and underwent a complete renovation in 2022. The property comprises two buildings: a 12,445-square-foot showroom/shop building and a 6,200-square-foot service building. The showroom/shop boasts a 5,020-square-foot HVAC-equipped office, a 4,345-square-foot parts area, and a 3,080-square-foot shop/service area. This section features four ground-level overhead doors, one dock-high overhead door, a 350-square-foot covered entry, 2,800 square feet of covered storage, and a 1,200-square-foot loading ramp. The service building includes a 1,200-square-foot HVAC office, a 5,000-square-foot shop area, eight 12'x14' ground-level overhead doors, one 8'x10' overhead door, a 600-square-foot covered wash area, and two bridge cranes (one 3-ton, one 6-ton) with 45-foot spans. Extensive paved areas totaling over 113,000 square feet (concrete, asphalt, and gravel) provide ample parking and maneuvering space. Security is enhanced by approximately 1,600 linear feet of chain link fencing and 500 linear feet of metal pipe fencing. Strategically located along the west side of S. Eastman Road, just south of Interstate 20, within Longview city limits (zip code 75602), this property offers excellent access and visibility. The asking price is $2,300,000, translating to $123.36 per square foot.

    Property Features for 3708 Eastman Rd

    General Information

    Property type
    Distribution properties
    Square Feet
    18,645 SF
    Lot Size
    160,562 SF

    Building Details

    Year Renovated
    2022

    We can help!

    Listing Contact
    Frank Chaney
    Frank Chaney

    Learn more

    HighLights

    • Exceptional 18,645 SF industrial property on a 3.686‑acre lot in Longview, TX (75602).
    • Completely renovated in 2022, featuring two buildings: a 12,445 SF showroom/shop and a 6,200 SF service building.
    • Showroom/shop includes 5,020 SF HVAC office, 4,345 SF parts area, 3,080 SF shop/service area, multiple overhead doors, covered entry, covered storage, and loading ramp.
    • Service building features 1,200 SF HVAC office, 5,000 SF shop area, eight 12'x14' overhead doors, one 8'x10' overhead door, covered wash area, and two bridge cranes (3‑ton and 6‑ton).
    • Over 113,000 SF of paved areas, 1,600 LF chain link fence, 500 LF metal pipe fence, excellent I‑20 access, and high visibility.
    • Asking price: $2,300,000 ($123.36/SF).
    Property Profile Location Intelligence

    Current Use by Public Records

    Distribution centers

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Building Supply Wholesale Shop Hair Salon Dental Office Auto Repair Shop Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Longview
    County
    Gregg
    State
    Texas
    Longitude
    -94.710053
    Latitude
    32.447737

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    FAQs

    What type of property is this?
    Distribution property - 18,645 SF Warehouse, 3.68 Acres, 2022 Renovation
    Where is this distribution property located?
    The property is located at 3708 Eastman Rd Longview, TX.
    What is the asking price?
    The asking price for this property is $2,300,000.
    What are key features of this property?
    This property features: Exceptional 18,645 SF industrial property on a 3.686-acre lot in Longview, TX (75602).; Completely renovated in 2022, featuring two buildings: a 12,445 SF showroom/shop and a 6,200 SF service building.; Showroom/shop includes 5,020 SF HVAC office, 4,345 SF parts area, 3,080 SF shop/service area, multiple overhead doors, covered entry, covered storage, and loading ramp.
    Request Owner's contact information
    3708 Eastman Rd Longview, TX 75602
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    Longview, TX 75602
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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
    3708 Eastman Rd Longview, TX 75602
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    We can help!
    Listing Contact
    Frank Chaney
    Frank Chaney
    Real Estate License ID: TX
    Learn more
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