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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3207 118Th St Lubbock, TX 79423

    • Flex space
    • 6,087 SF
    For Lease
    View listing
    $14 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-1783399
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Flex space

    Property Details for 3207 118Th St

    Year built
    2024
    Property size
    6,087 SF
    Property type
    Flex space

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Lubbock
    County
    Lubbock
    State
    Texas
    Longitude
    -101.8835851
    Latitude
    33.4862751

    Comparable in this City

    • $18 SF/Yr
      3,200 SF

      Southwest Lubbock Industrial Flex Space

      Prime location, 3200 sq ft flex space
      9508 Tahoka Hwy, Lubbock, TX 79423
      View Details
    • $3,200 /Mo
      3,122 SF

      Updated Warehouse with Fenced Yard

      Updated 3,122 SF office/warehouse with fenced yard for rent.
      2321 114Th St, Lubbock, TX 79423
      View Details
    • $3,500 /Mo
      2,400 SF

      Lubbock Flex Space For Rent

      Flex and industrial spaces available for lease in Lubbock, TX.
      1604 128Th St, Lubbock, TX 79423
      View Details
    • $1,126,250
      9,010 SF

      Modern Office/Warehouse in Growing Park

      Modern, flexible office/warehouse space in South Lubbock's Four Fields.
      3229 118Th St, Lubbock, TX 79423
      View Details
    • $14 SF/Yr
      5,000 SF

      Lubbock Office Warehouse with Stackyard

      Office warehouse with stackyard available October 2025 in Lubbock.
      2106 114Th St, Lubbock, TX 79423
      View Details
    • $850 /Mo
      1,500 SF

      Industrial Units for Lease

      Flex spaces with secure access and convenient highway location.
      9505 Highway 87, Lubbock, TX 79423
      View Details

    Similar Nearby for Sale

    • $875,000
      6,087 SF

      Lubbock Industrial Flex Space For Sale

      New 6,087 SF Flex Space in Lubbock, TX
      3207 118Th St, Lubbock, TX 79423
      View Details
    • $859,900
      7,547 SF

      New Construction Warehouse with Office

      New 7,546 SF warehouse with office space on 1 acre.
      11418 County Road 2220, Lubbock, TX 79423
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    • $999,000
      17,823 SF

      Industrial/Office Complex with Upscale Finishes

      Well-maintained industrial/office complex with flexible workspaces and high-clearance warehouse.
      10101 Highway 87, Lubbock, TX 79423
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    • $825,000
      20,604 SF

      Lubbock Commercial Investment Opportunity

      Commercial property featuring office, warehouse, and flex space for sale.
      12101 Geneva Ave, Lubbock, TX 79423
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    • $5,500,000
      39,970 SF

      Lubbock Warehouse with Office Space

      Warehouse with office, kitchen, and quick Loop 88 access.
      5505 132Nd St, Lubbock, TX 79423
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    • $225,000
      5,200 SF

      Versatile Industrial Shop/Hangar/Flex Space

      5200 SF property near Lubbock Executive Airpark.
      1813 E Private Road 7330, Lubbock, TX 79423
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr
      3,200 SF

      Southwest Lubbock Industrial Flex Space

      Prime location, 3200 sq ft flex space
      9508 Tahoka Hwy, Lubbock, TX 79423
      View Details
    • $3,200 /Mo
      3,122 SF

      Updated Warehouse with Fenced Yard

      Updated 3,122 SF office/warehouse with fenced yard for rent.
      2321 114Th St, Lubbock, TX 79423
      View Details
    • $3,500 /Mo
      2,400 SF

      Lubbock Flex Space For Rent

      Flex and industrial spaces available for lease in Lubbock, TX.
      1604 128Th St, Lubbock, TX 79423
      View Details
    • $1,126,250
      9,010 SF

      Modern Office/Warehouse in Growing Area

      New construction office/warehouse in South Lubbock's Four Fields Business Park.
      3205 118Th St, Lubbock, TX 79423
      View Details
    • $850 /Mo
      1,500 SF

      Industrial Units for Lease

      Flex spaces with secure access and convenient highway location.
      9505 Highway 87, Lubbock, TX 79423
      View Details
    • $1,126,250
      9,010 SF

      Modern Office/Warehouse in Growing Park

      Modern, flexible office/warehouse space in South Lubbock's Four Fields.
      3229 118Th St, Lubbock, TX 79423
      View Details
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    Lubbock, TX 79423
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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
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