Office Building with Fenced
For Sale
$1,815,000
1814 E County Rd 120, Midland, TX 79706
Commercial Sale, Midland, TX
Property Size12,000 SF
Lot Size3.00 Acres
Price / SF$151.25
Days on Market50
Property Features for 1814 E County Rd 120
General Information
Property type
Commercial Sale
Property subtype
Office
Fencing
Chain Link, Fenced
Subdivision
39-T2S
Lot features
Security, Lighted Parking
Standard status
Active
APN
00003920.013.6900
Size
12,000 SF
Lot size
3.00 Acres
Taxes and HOA fees
Tax Annual Amount
13134
Utilities
Sewer type
Private Sewer
Water source
Well
Building Details
Year built
2019
Building materials
Metal Construction, Metal Siding
Roof type
Metal
Listing Agency:
eXp Realty LLC
(888) 519-7431
Listed By:
Yvonne Rosas · License #716775
(432) 202-0069
Added: Jul 27
Changed: Sep 12
Last Checked: Sep 14 at 5:06PM
MLS# 176474
Copyright © 2026 Odessa 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 12,000-square-foot office property occupies 3 acres at 1814 E County Rd 120 in Midland, Texas. Built in 2019, the building features metal construction, metal siding, and a metal roof, with chain-link fencing enclosing the site.
The property is served by a private well and private sewer system. Its combination of substantial building area, dedicated acreage, and secured grounds provides a clear physical profile for office-oriented commercial use.
The property is served by a private well and private sewer system. Its combination of substantial building area, dedicated acreage, and secured grounds provides a clear physical profile for office-oriented commercial use.
Key Highlights
- 12,000‑square‑foot office building on 3 acres
- Built in 2019 with metal construction and metal siding
- Metal roof and chain‑link fencing
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
$145,152
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
8.00%
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%
$2,903,040
$2.9M
Cap Rate 7%
$2,073,600
$2.1M
Cap Rate 9%
$1,612,800
$1.6M
Market Conditions
NOI Build-Up for 12,000 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
$230.4K $19.20/SF
− Vacancy
−$36.9K −$3.07/SF
EGI
$193.5K $16.13/SF
− OpEx
−$48.4K −$4.03/SF
NOI
$145.2K $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%
$2,903,040
Cap Rate 7%
$2,073,600
Cap Rate 9%
$1,612,800
Alternative Uses
Best Use
Office B
$2.07M
$1.81M – $2.42M
NOI $145,152 @ 7.0% cap · market cap 8.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.83M
$2.48M – $3.30M
NOI $198,144 @ 7.0% cap · market cap 10.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
73
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
Check the figures for this property
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - Metal construction, private utilities, and secured outdoor space support a range of office property configurations.
Where is this office building located?
The property is located at 1814 E County Rd 120 Midland, TX.
What is the asking price?
The asking price for this property is $1,815,000.
What are key features of this property?
This property features: 12,000‑square‑foot office building on 3 acres; Built in 2019 with metal construction and metal siding; Metal roof and chain‑link fencing
