Newly Built Apartment
For Sale
$5,395,000
Lionel Avenue, Texarkana, TX 75503
ResidentialIncome, Texarkana, TX
Property Size33,891 SF
Lot Size2.40 Acres
Price / SF$159.19
Days on Market83
Property Features for Lionel Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Property condition
Under Construction
Bedrooms
2
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bathroom 2, Bedroom 2, Bathroom 3, Bathroom 1, Bedroom 1
Parking
66
Parking features
Driveway, Assigned
Patio and Porch features
Porch
Interior features
EatInKitchen, GraniteCounters, HighSpeedInternet, MultipleMasterSuites, OpenFloorplan, WalkInClosets
Appliances
Dryer, ElectricRange, Disposal, Microwave
Subdivision
Wright Ridge
Lot features
Acreage, Cleared, Corner Lot
Elementary school
Pleasant Grove
Middle school
Pleasant Grove
High school
Pleasant Grove
Elementary school district
Pleasant Grove ISD
Middle school district
Pleasant Grove ISD
High school district
Pleasant Grove ISD
Directions
From Highway 30, Head North on Richmond Rd. Take a right onto University Ave. Property will be at the corner of University Ave and Lionel Ave.
Standard status
Active
APN
30180003300
Size
33,891 SF
Lot size
2.40 Acres
Taxes and HOA fees
Tax Description
WRIGHTRIDGE ADDN LOTs 13, 14, 15
Tax Annual Amount
100000
Legal Description
WRIGHTRIDGE ADDN LOTs 13, 14, 15
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Electric, Central Air, Ceiling Fan(s)
Water source
Public
Building Details
Year built
2026
Floors in Building
2
Number of units
33
Flooring type
Laminate
Building materials
Brick, WoodSiding
Roof type
Shingle, Composition
Listing Agency:
Tx Land & Legacy Realty, LLC
(817) 832-4273
Listed By:
Bryson Swiggart · License #0634498
(601) 955-6881
Added: Jul 12
Changed: Sep 27
Last Checked: Oct 2 at 6:06PM
MLS# 20861984
Copyright © 2026 North Texas Real Estate Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This apartment community occupies 2.4 acres and contains 33,891 square feet across a newly built residential property. Apartment interiors include open floor plans, granite counters, eat-in kitchens, multiple master suites, walk-in closets, laminate flooring, and in-unit dryers. Assigned parking, driveways, porches, central heating and cooling, and electric service are also provided. Public water and sewer serve the property, while each apartment is individually metered for water and electricity.
Located on Lionel Avenue in Texarkana, the community is within walking distance of Texas A&M University-Texarkana and within 5 minutes of shopping, restaurants, and healthcare services. The property includes 20 leased units and a reported occupancy rate of 61% as of August 7. Its residential configuration can accommodate student housing or general public occupancy.
Located on Lionel Avenue in Texarkana, the community is within walking distance of Texas A&M University-Texarkana and within 5 minutes of shopping, restaurants, and healthcare services. The property includes 20 leased units and a reported occupancy rate of 61% as of August 7. Its residential configuration can accommodate student housing or general public occupancy.
Key Highlights
- 33,891‑square‑foot apartment community on 2.4 acres
- Walking distance to Texas A&M University‑Texarkana
- 20 units leased; reported occupancy of 61% as of August 7
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
$202,744
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
3.76%
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%
$4,054,880
$4.1M
Cap Rate 7%
$2,896,343
$2.9M
Cap Rate 9%
$2,252,711
$2.3M
Market Conditions
NOI Build-Up for 33,891 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
$418.9K $12.36/SF
− Vacancy
−$50.3K −$1.48/SF
EGI
$368.6K $10.88/SF
− OpEx
−$165.9K −$4.89/SF
NOI
$202.7K $5.98/SF
Area
Bowie County, TX
Vacancy
12.00%
Lease Rate
$12.36 /SF/Yr
Expense Ratio
45.00%
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%
$4,054,880
Cap Rate 7%
$2,896,343
Cap Rate 9%
$2,252,711
Alternative Uses
Best Use
Apartment 5plus
$2.90M
$2.53M – $3.38M
NOI $202,744 @ 7.0% cap · market cap 3.76%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$25.53M
$22.34M – $29.78M
NOI $1,786,903 @ 7.0% cap · market cap 33.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
61%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
67
Businesses Nearby
Explore this area
Business Placement
Demographics for 75503, TX
25,547
Population
11,464
Households
2.2
Avg Household Size
41
Median Age
35%
College-Educated
95%
High-School Grad
78.5 sq mi
ZIP Area
325
Density / Sq Mi
$67,733
Median Household Income
$43,508
Median Earnings
$1,185
Median Rent
$214,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Near Texas A&M University-Texarkana, the property offers individually metered utilities and layouts suited to student or general residential occupancy.
Where is this apartment building located?
The property is located at Lionel Avenue Texarkana, TX.
What is the asking price?
The asking price for this property is $5,395,000.
What are key features of this property?
This property features: 33,891‑square‑foot apartment community on 2.4 acres; Walking distance to Texas A&M University‑Texarkana; 20 units leased; reported occupancy of 61% as of August 7
