Unrestricted Land with Office
For Sale
$475,000
10215 E Hwy 80, Midland, TX 79706
COMMERCIAL - Midland, TX
Property Size1,600 SF
Lot Size5.00 Acres
Price / SF$296.88
Days on Market25
Property Features for 10215 E Hwy 80
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
37-T1S
Standard status
Active
Size
1,600 SF
Lot size
5.00 Acres
Taxes and HOA fees
Tax Description
Legal: Acres: 5.000, N/2, SEC: 28, BLK: 37-T1S, LABEL: NTA1477062, MAKE: OAKCREEK, SERIAL: OC010919926A, MODEL: OAKCREEK, MODEL: 32X32, YR: 2009 Situs
Tax Annual Amount
193
Legal Description
Legal: Acres: 5.000, N/2, SEC: 28, BLK: 37-T1S, LABEL: NTA1477062, MAKE: OAKCREEK, SERIAL: OC010919926A, MODEL: OAKCREEK, MODEL: 32X32, YR: 2009 Situs
Building Details
Year built
2009
Listing Agency:
Legacy Real Estate
(432) 687-6500
Listed By:
Amy Crownover · License #TREC 0730372
(432) 559-5168
Added: Jul 14
Changed: Aug 4
Last Checked: Aug 7 at 10:06AM
MLS# 50096747
Copyright © 2026 Permian Basin Board of Realtors. 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 offering includes 5 acres of unrestricted land outside the ETJ between Midland and Stanton, with I-20 access road frontage. The property also features an existing 1,600 SF double wide that could be used for office space.
Site utilities include two electric poles, a septic system, and a water well. The land is available for sale at 10215 E Hwy 80, Midland, TX 79706.
The combination of acreage, road frontage, and a ready-to-use structure makes the property well suited for buyers looking for a straightforward setup with existing power and on-site water and septic service.
Site utilities include two electric poles, a septic system, and a water well. The land is available for sale at 10215 E Hwy 80, Midland, TX 79706.
The combination of acreage, road frontage, and a ready-to-use structure makes the property well suited for buyers looking for a straightforward setup with existing power and on-site water and septic service.
Key Highlights
- 5 acres of unrestricted land outside the ETJ between Midland and Stanton
- I‑20 access road frontage
- 2009‑built 1,600 sq ft double wide that could be used for offices
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
$19,354
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
4.07%
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%
$387,080
$387.1K
Cap Rate 7%
$276,486
$276.5K
Cap Rate 9%
$215,044
$215.0K
Market Conditions
NOI Build-Up for 1,600 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
$30.7K $19.20/SF
− Vacancy
−$4.9K −$3.07/SF
EGI
$25.8K $16.13/SF
− OpEx
−$6.5K −$4.03/SF
NOI
$19.4K $12.10/SF
Area
Midland, TX
Vacancy
16.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
25.00%
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%
$387,080
Cap Rate 7%
$276,486
Cap Rate 9%
$215,044
Alternative Uses
Best Use
Office B
$276.5K
$241.9K – $322.6K
NOI $19,354 @ 7.0% cap · market cap 4.07%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$377.4K
$330.2K – $440.3K
NOI $26,419 @ 7.0% cap · market cap 5.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
58
Businesses Nearby
Explore this area
Business Placement
Demographics for 79706, TX
31,805
Population
12,368
Households
2.6
Avg Household Size
32
Median Age
23%
College-Educated
87%
High-School Grad
689.5 sq mi
ZIP Area
46
Density / Sq Mi
$110,988
Median Household Income
$58,023
Median Earnings
$897
Median Rent
$280,500
Median Home Value
Market
Vacancy Rate% for Office 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?
Commercial land - 5 acres of unrestricted land with I-20 access road frontage and an existing 1,600 SF double wide suitable for offices.
Where is this commercial land located?
The property is located at 10215 E Hwy 80 Midland, TX.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: 5 acres of unrestricted land outside the ETJ between Midland and Stanton; I‑20 access road frontage; 2009‑built 1,600 sq ft double wide that could be used for offices
