Midland Commercial Property on 3.83
1501 N Fairgrounds Rd Midland, TX 79706
COMMERCIAL - Midland, TX
Property size:
20,894 SFLot size:
3.83 AcresPrice / SF:
$189/SF- Added:
- May 18, 2026
- Days on Market:
- 54
- Last Refresh:
- Jul 10 at 4:06 pm
Property Features for 1501 N Fairgrounds Rd
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Standard status
- Active
- Size
- 20,894 SF
- Lot size
- 3.83 Acres
Taxes and HOA fees
- Tax Description
- 2.635, BLK: 089, LOT: 001, ADDN: EAST MIDLAND SEC 2
- Tax Annual Amount
- 19800
Building Details
- Year built
- 1978
Listing agent Amy Brasher Barnett License #TX 514276 (432) 352-6714
Listing office NRG Realty Group, LLC 6191 St Hwy 161 430, TX (432) 432-7976
Listing date May 18, 2026
MLS# 50095266
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 commercial property in Midland, TX, encompasses 20,894 square feet on 3.83 acres. It features a 13,754 square foot office space that includes an executive suite, 22 private offices, a welcoming reception area, two conference rooms, and a break room. Additionally, there is a 1,440 square foot shop/storage area with a parts office, crew prep room, and separate locker rooms for men and women, along with open storage. A 5,700 square foot tote facility provides an outdoor workspace. The tote facility was remodeled in 2015. The property offers easy access to Business 20, I-20, and Loop 250. The layout can be sectioned to accommodate specific needs.
Key Highlights
- 20,894 SF on 3.83 Acres providing substantial space.
- Remodeled in 2015.
- 13,754 SF Office with Executive Suite and 22 Private Offices.
Local Financial Insights For Office B
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 | $401.2k | $19.20 |
| − Vacancy | −$64.2k | −$3.07 |
| EGI | $337.0k | $16.13 |
| − OpEx | −$84.2k | −$4.03 |
| NOI | $252.7k | $12.10 |
20,894 SF · lease $19.20/SF/yr · vacancy 16.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$3.61M
$3.16M – $4.21M
NOI $252,734 @ 7.0% cap · market cap 6.40%
Second Best
Warehouse
$3.25M
$2.84M – $3.79M
NOI $227,579 @ 7.0% cap · market cap 5.76%
Theoretical Best
Office A
$4.93M
$4.31M – $5.75M
NOI $345,002 @ 7.0% cap · market cap 8.73%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Endura Products Corp
Factory
Andrew Bartlett Group ...
General Contractor
Dayley Landscape Center
Landscaping
Similar For Sale Nearby
Similar Off Market Nearby
- Mariquita's Taniche & Catering — 1201 E Front St, Midland, TX 79701
FAQs
What type of property is this?
Flex space - 20,894 SF office, shop, and tote facility on 3.83 acres.
Where is this flex space located?
The property is located at 1501 N Fairgrounds Rd Midland, TX.
What is the asking price?
The asking price for this property is $3,950,000.
What are key features of this property?
This property features: 20,894 SF on 3.83 Acres providing substantial space.; Remodeled in 2015.; 13,754 SF Office with Executive Suite and 22 Private Offices.
