New Construction Warehouse with
For Sale
Contact for pricing
3207 118th St, Lubbock, TX 79423
New warehouse with offices and overhead doors for sale.
Property Size6,087 SF
Price / SF$143.75
Days on Market864
Property Features for 3207 118th St
General Information
Standard status
Active
Size
6,087 SF
Property subtype
Industrial
Building Details
Year Built
2024
Listing Agency:
WestMark Commercial
(806) 777-8114
Listed By:
Kelsey Zickefoose · License #TX 0724914
Source:
Crexi
Added: Mar 20, 2024
Changed: Jul 6
Last Checked: Jul 29 at 12:18PM
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 WestMark Commercial
Investment Insights
Based on property information with market context.
This is a new construction warehouse located on 118th Street, east of Indiana Ave. The property features 6 private offices, a conference room, and a workspace. There is a designated restroom for the warehouse area and a separate restroom for the office space. The warehouse includes 2 overhead doors, each measuring 12 x 12. The property size is 6087 square feet.
Key Highlights
- New construction completed in 2024
- Warehouse featuring 2 overhead doors (12 x 12)
- Includes 6 private offices
Financial Insights For Industrial
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $105.9k | $17.40 |
| − Vacancy | −$7.9k | −$1.31 |
| EGI | $98.0k | $16.10 |
| − OpEx | −$29.4k | −$4.83 |
| NOI | $68.6k | $11.27 |
6,087 SF · lease $17.40/SF/yr · vacancy 7.50% · expense 30.00%
Alternative Uses
Best Use
Warehouse
$1.19M
$1.04M – $1.39M
NOI $83,275 @ 7.0% cap · market cap 9.52%
Second Best
Industrial
$979.7K
$857.2K – $1.14M
NOI $68,579 @ 7.0% cap · market cap 7.84%
Theoretical Best
Office A
$1.53M
$1.34M – $1.79M
NOI $107,419 @ 7.0% cap · market cap 12.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
339
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
Properties on Market for Warehouses in Lubbock
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Warehouse - New warehouse with offices and overhead doors for sale.
Where is this warehouse located?
The property is located at 3207 118th St Lubbock, TX.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: New construction completed in 2024; Warehouse featuring 2 overhead doors (12 x 12); Includes 6 private offices
