Flex Space with Fenced
For Sale
Contact for pricing
9210 US-87, Lubbock, TX 79423
Industrial property combines office, warehouse, loading, and secured outdoor yard areas for operational flexibility.
Property Size14,950 SF
Lot Size1.50 Acres
Price / SF$150
Days on Market13
Property Features for 9210 US-87
General Information
Standard status
Active
Size
14,950 SF
Lot size
1.50 Acres
Property subtype
INDUSTRIAL
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Additional Details
Clear Height
18 ft
Building Details
Building Size
14,950 SF
Listing Agency:
McDougal Companies - Corporate
(806) 793-0703
Listed By:
Mark Oatman · License #TEXAS596269
(806) 543-8568
Source:
Moodyscre
Added: Sep 1
Changed: Sep 13
Last Checked: Sep 13 at 10:53AM
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 Companies - Corporate
Investment Insights
Based on property information with market context.
This 14,950-square-foot flex property sits on 1.5 acres and combines office, warehouse, and outdoor yard components. The planned 1,816-square-foot office area includes 7 private offices, a conference room, reception area, 2 bathrooms, and a kitchenette. Warehouse improvements feature 18-foot sidewalls and 2 overhead doors for loading and storage operations, while the fully fenced yard provides additional secured exterior space.
Located at 9210 Highway 87 in Lubbock, the property is positioned between the city’s inner and outer loops along a high-traffic corridor. Its location supports access to major routes and visibility from Highway 87. The configuration is suited to industrial users requiring administrative space alongside warehouse capacity and fenced outdoor area.
Located at 9210 Highway 87 in Lubbock, the property is positioned between the city’s inner and outer loops along a high-traffic corridor. Its location supports access to major routes and visibility from Highway 87. The configuration is suited to industrial users requiring administrative space alongside warehouse capacity and fenced outdoor area.
Key Highlights
- 14,950 SF total building area on 1.5 acres
- 1,816 SF office component with 7 private offices, conference room, reception, 2 bathrooms, and kitchenette
- Warehouse has 18‑foot sidewalls and 2 overhead doors
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
$204,527
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
9.12%
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%
$4,090,540
$4.1M
Cap Rate 7%
$2,921,814
$2.9M
Cap Rate 9%
$2,272,522
$2.3M
Market Conditions
NOI Build-Up for 14,950 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
$260.1K $17.40/SF
− Vacancy
−$19.5K −$1.31/SF
EGI
$240.6K $16.10/SF
− OpEx
−$36.1K −$2.41/SF
NOI
$204.5K $13.68/SF
Area
Lubbock, TX
Vacancy
7.50%
Lease Rate
$17.40 /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%
$4,090,540
Cap Rate 7%
$2,921,814
Cap Rate 9%
$2,272,522
Alternative Uses
Best Use
Warehouse
$2.92M
$2.56M – $3.41M
NOI $204,527 @ 7.0% cap · market cap 9.12%
Second Best
Industrial
$2.41M
$2.11M – $2.81M
NOI $168,434 @ 7.0% cap · market cap 7.51%
Theoretical Best
Office A
$3.77M
$3.30M – $4.40M
NOI $263,826 @ 7.0% cap · market cap 11.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
18 ft
Clear height
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 79423, TX
42,311
Population
18,463
Households
2.3
Avg Household Size
35
Median Age
38%
College-Educated
94%
High-School Grad
64.2 sq mi
ZIP Area
659
Density / Sq Mi
$82,906
Median Household Income
$45,520
Median Earnings
$1,284
Median Rent
$222,500
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Industrial property combines office, warehouse, loading, and secured outdoor yard areas for operational flexibility.
Where is this flex space located?
The property is located at 9210 US-87 Lubbock, TX.
What is the asking price?
The asking price for this property is $2,242,500.
What are key features of this property?
This property features: 14,950 SF total building area on 1.5 acres; 1,816 SF office component with 7 private offices, conference room, reception, 2 bathrooms, and kitchenette; Warehouse has 18‑foot sidewalls and 2 overhead doors
