Renovated Flex
New
For Sale
Contact for pricing
905 1st St, Levelland, TX 79336
The building is currently configured as an event venue and includes office components.
Property Size7,600 SF
Price / SF$82.24
Days on Market4
Property Features for 905 1st St
General Information
Standard status
Active
Size
7,600 SF
Property subtype
INDUSTRIAL
Building Details
Year Renovated
2024
Buildings
1
Building Size
7,600 SF
Listing Agency:
Real Broker, LLC
(855) 450-0442
Listed By:
Doug Duncan · License #0563978
(806) 577-5595
Source:
Moodyscre
Added: Oct 14
Changed: Oct 16
Last Checked: Oct 16 at 2:15PM
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 Real Broker, LLC
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Investment Insights
Based on property information with market context.
This 7,600-square-foot flex building is currently arranged for use as an event venue, with office components incorporated into the space. The layout supports a mix of flex and office functions, and the property was renovated in 2024. It is described as being in good condition.
Located at 905 1st St. in Levelland, Texas, the property is identified as a flex-space asset. Its existing event-venue configuration and office components are physical features of the current setup.
Located at 905 1st St. in Levelland, Texas, the property is identified as a flex-space asset. Its existing event-venue configuration and office components are physical features of the current setup.
Key Highlights
- 7,600‑square‑foot flex building
- Renovated in 2024
- Currently configured as an event venue
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$43,298
Cap Rate
6.93%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$865,960
$866.0K
Cap Rate 7%
$618,543
$618.5K
Cap Rate 9%
$481,089
$481.1K
Market Conditions
NOI Build-Up for 7,600 SF
Gross rent
$75.7K $9.96/SF
− Vacancy
−$9.1K −$1.20/SF
EGI
$66.6K $8.76/SF
− OpEx
−$23.3K −$3.07/SF
NOI
$43.3K $5.70/SF
Area
Hockley County, TX
Vacancy
12.00%
Lease Rate
$9.96 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$865,960
Cap Rate 7%
$618,543
Cap Rate 9%
$481,089
Alternative Uses
Best Use
Flex RnD
$618.5K
$541.2K – $721.6K
NOI $43,298 @ 7.0% cap · market cap 6.93%
Second Best
Industrial
$559.1K
$489.2K – $652.3K
NOI $39,137 @ 7.0% cap · market cap 6.26%
Theoretical Best
Multifamily LT 5
$85.21M
$74.56M – $99.41M
NOI $5,964,507 @ 7.0% cap · market cap 954.32%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
522
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 79336, TX
15,953
Population
6,584
Households
2.4
Avg Household Size
36
Median Age
17%
College-Educated
79%
High-School Grad
482.8 sq mi
ZIP Area
33
Density / Sq Mi
$52,724
Median Household Income
$34,213
Median Earnings
$803
Median Rent
$124,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Flex space - The building is currently configured as an event venue and includes office components.
Where is this flex space located?
The property is located at 905 1st St Levelland, TX.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: 7,600‑square‑foot flex building; Renovated in 2024; Currently configured as an event venue
