Warehouse
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
Other
Subdivision
39-T2S
Standard status
Active
Size
12,000 SF
Lot size
3.00 Acres
Taxes and HOA fees
Tax Description
Subdivision: 39-T2S, Acres: 3.00, NE/4, Sec 13, BLK 39-T2S
Tax Annual Amount
13134
Legal Description
Subdivision: 39-T2S, Acres: 3.00, NE/4, Sec 13, BLK 39-T2S
Building Details
Year built
2019
Listing Agency:
eXp Realty LLC
(888) 519-7431
Listed By:
Yvonne Rosas · License #716775
(432) 202-0069
Added: Jul 27
Changed: Aug 27
Last Checked: Sep 14 at 7:06PM
MLS# 50097067
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 warehouse property includes a 12,000-square-foot building situated on 3 acres. Constructed in 2019, the asset is classified within the warehouse and distribution-center property categories and is positioned for commercial or industrial use.
The property is located at 1814 E County Rd 120 in Midland, Texas, 79706. Its Midland location and substantial site area provide the physical setting for warehouse-related operations, distribution activity, or other commercial and industrial functions identified for the property.
The property is located at 1814 E County Rd 120 in Midland, Texas, 79706. Its Midland location and substantial site area provide the physical setting for warehouse-related operations, distribution activity, or other commercial and industrial functions identified for the property.
Key Highlights
- 12,000‑square‑foot warehouse building
- 3‑acre commercial and industrial property
- Constructed in 2019
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
$130,705
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
7.20%
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%
$2,614,100
$2.6M
Cap Rate 7%
$1,867,214
$1.9M
Cap Rate 9%
$1,452,278
$1.5M
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
$162.7K $13.56/SF
− Vacancy
−$8.9K −$0.75/SF
EGI
$153.8K $12.81/SF
− OpEx
−$23.1K −$1.92/SF
NOI
$130.7K $10.89/SF
Area
Midland, TX
Vacancy
5.50%
Lease Rate
$13.56 /SF/Yr
Expense Ratio
15.00%
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%
$2,614,100
Cap Rate 7%
$1,867,214
Cap Rate 9%
$1,452,278
Alternative Uses
Best Use
Warehouse
$1.87M
$1.63M – $2.18M
NOI $130,705 @ 7.0% cap · market cap 7.20%
Second Best
Industrial
$1.54M
$1.35M – $1.79M
NOI $107,639 @ 7.0% cap · market cap 5.93%
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
Well-served
Demand for This Use
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
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Warehouse - A 2019-built warehouse property serving commercial and industrial purposes.
Where is this warehouse 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 warehouse building; 3‑acre commercial and industrial property; Constructed in 2019
