Flex Space with Multiple
New
For Sale
$597,000
2200 S County Rd 1130, Midland, TX 79706
COMMERCIAL - Midland, TX
Property Size2,890 SF
Lot Size1.50 Acres
Price / SF$206.57
Days on Market5
Property Features for 2200 S County Rd 1130
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
38-T2S
Standard status
Active
Size
2,890 SF
Lot size
1.50 Acres
Taxes and HOA fees
Tax Description
Acres: 1.5, NE/4, SEC: 3, BLK: 38-T2S
Tax Annual Amount
3900
Legal Description
Acres: 1.5, NE/4, SEC: 3, BLK: 38-T2S
Building Details
Year built
1955
Listing Agency:
The Real Estate Company
(432) 618-0286
Listed By:
Kaily Richardson · License #TREC 0628498
(575) 390-5504
Added: Aug 6
Last Checked: Aug 10 at 2:06AM
MLS# 50097373
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 2,890-square-foot flex property combines a residential layout with multiple garages, shops, and storage areas on 1.5 acres. The main structure includes five separate bedrooms and four baths, while the larger shop features overhead doors, 3-phase electric, and an unfinished upstairs living area. The improvements were built in 1955.
Located in Midland near 307 and within minutes of I-20, the property offers a practical setting for combining living quarters with business or office use. Existing shop and garage space provides room for storage, equipment, and operational needs, subject to applicable requirements.
Located in Midland near 307 and within minutes of I-20, the property offers a practical setting for combining living quarters with business or office use. Existing shop and garage space provides room for storage, equipment, and operational needs, subject to applicable requirements.
Key Highlights
- 2,890 square feet of building area on 1.5 acres
- Five bedrooms and four baths in the main residence
- Multiple garages, shops, and storage areas
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
$34,957
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
5.86%
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%
$699,140
$699.1K
Cap Rate 7%
$499,386
$499.4K
Cap Rate 9%
$388,411
$388.4K
Market Conditions
NOI Build-Up for 2,890 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
$55.5K $19.20/SF
− Vacancy
−$8.9K −$3.07/SF
EGI
$46.6K $16.13/SF
− OpEx
−$11.7K −$4.03/SF
NOI
$35.0K $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%
$699,140
Cap Rate 7%
$499,386
Cap Rate 9%
$388,411
Alternative Uses
Best Use
Office B
$499.4K
$437.0K – $582.6K
NOI $34,957 @ 7.0% cap · market cap 5.86%
Second Best
Mixed Use
$493.1K
$431.5K – $575.3K
NOI $34,517 @ 7.0% cap · market cap 5.78%
Theoretical Best
Office A
$681.7K
$596.5K – $795.3K
NOI $47,720 @ 7.0% cap · market cap 7.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
34
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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- Bayou Crawfish and Catering — 3415 TX-250 Loop, Midland, TX 79705
Frequently Asked Questions
What type of property is this?
Flex space - Combined residential and shop improvements support live-work, office, or business operations in Midland.
Where is this flex space located?
The property is located at 2200 S County Rd 1130 Midland, TX.
What is the asking price?
The asking price for this property is $597,000.
What are key features of this property?
This property features: 2,890 square feet of building area on 1.5 acres; Five bedrooms and four baths in the main residence; Multiple garages, shops, and storage areas
