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    708 Loop 289 Lubbock, TX 79404

    Sponsored
    For Lease
    $4 SF/Yr ($11,362 /Mo)

    Two buildings, 30,300 sq ft, flexible space

    Lot size:
    30,300 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    425
    This exceptional industrial property in Lubbock, Texas, offers a unique opportunity for businesses seeking versatile warehouse space. The property boasts two buildings totaling 30,300 square feet, situated on a 1.8-acre lot with convenient SE Loop 289 frontage. The original 8,300-square-foot building, constructed in 1971 and renovated in 2016, features two offices, a break room, two restrooms, open warehouse space, and two drive-thru bays—one equipped with a floor drain. The second building, a 22,000-square-foot structure built in 2016, offers an open reception/showroom area, an office, a restroom, and ample warehouse space. This newer building is equipped with substantial 2,800 amp 3-phase electrical service, compressed air lines throughout, two ten-ton HVAC units, and four overhead doors. Both buildings are fully fenced and enclosed, providing secure parking and stack yard areas. The property is conveniently located at 708 SE Loop 289, Lubbock, TX 79404, and is zoned Light Industrial (LI), allowing for a variety of industrial uses, including warehousing, distribution, and light assembly. Minimum divisible space is 8,300 square feet, with a maximum contiguous space of 30,300 square feet. Importantly, this property is not located in a flood zone. The City of Lubbock's Unified Development Code, effective October 1, 2023, further clarifies permitted uses.

    Property Features for 708 Loop 289

    General Information

    Property type
    Manufacturing properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    30,300 SF
    Total Rate
    11362.5

    Building Details

    Year Built/Renovated
    1971/2016
    Buildings
    2
    Stories
    1

    Spaces For Lease

    at 708 Loop 289, Lubbock, TX 79404 Contact us
    Unit East Building

    $4 /Mo

    Size
    8,300 SF
    Contact us
    Unit West Building

    $6 /Mo

    Size
    22,000 SF
    Contact us

    We can help!

    Listing Contact
    Kelsey Zickefoose
    Kelsey Zickefoose

    Learn more

    Property Insight Report

    HighLights

    • Two‑building industrial complex with fenced yard and ample stack yard space.
    • 8,300 SF building, constructed in 1971, renovated in 2016, includes two offices, breakroom, restrooms, and two drive‑thru bays (one with floor drain).
    • 22,000 SF building constructed in 2016, featuring open showroom/reception area, office, restroom, and substantial warehouse space.
    • Features compressed air lines.
    • 30 tons of HVAC capacity (2 x 10‑ton units).
    • Multiple ground‑level overhead doors.
    Property Profile Location Intelligence

    Current Use by Public Records

    Regency Machine, Inc Industrial Manufacturer

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Lubbock
    County
    Lubbock
    State
    Texas
    Longitude
    -101.8285579
    Latitude
    33.5286679

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    FAQs

    What type of property is this?
    Manufacturing property - Two buildings, 30,300 sq ft, flexible space
    Where is this manufacturing property located?
    The property is located at 708 Loop 289 Lubbock, TX.
    What is the lease rate?
    The lease rate is $4-$6 SF/Yr.
    What are key features of this property?
    This property features: Two-building industrial complex with fenced yard and ample stack yard space.; 8,300 SF building, constructed in 1971, renovated in 2016, includes two offices, breakroom, restrooms, and two drive-thru bays (one with floor drain).; 22,000 SF building constructed in 2016, featuring open showroom/reception area, office, restroom, and substantial warehouse space.
    (806) 777-8114
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    708 Loop 289 Lubbock, TX 79404
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    Lubbock, TX 79404
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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
    708 Loop 289 Lubbock, TX 79404
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    We can help!
    Listing Contact
    Kelsey Zickefoose
    Kelsey Zickefoose
    Real Estate License ID: 0724914
    (806) 777-8114
    Learn more
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