Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2842 Prt Alto Dr Midland, TX 79705

    Sponsored
    For Sale
    $65,000

    Individual Lot - Midland, TX

    Lot size:
    1.00 Acre
    Days on Market:
    214
    Last Refresh:
    Jan 30 at 6:06 pm

    Property Features for 2842 Prt Alto Dr

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Lot size
    1.00 Acre

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Thomas Johnston
    Thomas Johnston

    The Real Estate Ranch LLC (432) 688-8200

    Listing agent Thomas Johnston ABR /CNHS (432) 688-8200

    Listing date Jul 1, 2025

    MLS# 50083399 Listing URL

    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.

    Learn more

    Property Insight Report

    Overview

    Land For Sale - Midland, TX

    This property offers one acre of land for sale in Midland, Texas. According to the public remarks, the land is available with a limited-time offer of 10% down and 15% interest. The property is located in an area suitable for small industrial yards and home sites in the Permian Basin, with the flexibility to combine yards for larger needs. Water is available in the area at 20 gallons per minute. Mobile homes are permitted on the property.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Midland
    County
    Midland
    State
    Texas
    Longitude
    -102.041575
    Latitude
    32.123997

    Nearby Similar for Sale

    • $2,400,000
      8,254 SF

      Airbnb Tiny Homes and Barndominium

      Income-generating property with tiny homes, barndominium, and commercial building.
      4301 S County Road 1135, Midland, TX 79706
      View Details
    • $1,995,000
      11,246 SF

      Midland Office/Shop on 8.5 Acres

      Turnkey office/shop space with additional residential home near Midland.
      9009 W County Road 160, Midland, TX 79706
      View Details
    • $9,100,000
      78,400 SF

      Midland, TX Office Building

      78,400 SF office building on 1.58 acres.
      125 W Missouri Ave, Midland, TX 79701
      View Details
    • $1,425,000
      4,400 SF

      Midland Industrial/Commercial Property on I-20

      Two buildings with offices, shop space, and I-20 frontage.
      8316 W I-20, Midland, TX 79706
      View Details
    • $949,900
      7,128 SF

      Former Day Care For Sale

      Two large lots ideal for daycare, healthcare, or office space.
      1005 Austin St, Midland, TX 79703
      View Details
    • $5,500,000
      24,775 SF

      Downtown Midland Office Building

      Three-story office building in downtown Midland, Texas.
      200 W Illinois Ave, Midland, TX 79701
      View Details
    • $3,800,000
      30,396 SF

      Former Newspaper Building in Midland

      Expansive property with redevelopment potential in the heart of Midland.
      201 E Illinois Ave, Midland, TX 79701
      View Details
    • $1,450,000
      7,500 SF

      Midland Warehouse with Office Space

      Commercial warehouse with office on 3 acres in Midland.
      6707 S County Road 1065, Midland, TX 79706
      View Details
    • $875,000
      12,624 SF

      Self-Storage Facility with Residential Home

      Self-storage facility with residential home for sale in Midland, TX.
      5702 Hwy 349 S, Midland, TX 79706
      View Details
    • $1,860,000
      Pending

      Midland Industrial Property on 3 Acres

      Versatile industrial property in Midland's energy hub, ideal for expansion.
      1814 E County Road 120, Midland, TX 79706
      View Details
    • $1,860,000
      Pending

      Midland Industrial Property on 3 Acres

      Versatile industrial property in Midland's energy corridor on 3 acres.
      1814 E County Road 120, Midland, TX 79706
      View Details
    • $1,100,000
      6,866 SF

      Remodeled Multi-Unit Property Near Petroplex Hubs

      5.5-acre property with residential units and shop near Midland.
      9300 W County Road 60, Midland, TX 79706
      View Details

    FAQs

    What type of property is this?
    Land - One acre of land available in Midland, Texas.
    Where is this land located?
    The property is located at 2842 Prt Alto Dr Midland, TX.
    What is the asking price?
    The asking price for this property is $65,000.
    What are key features of this property?
    This property features: - Affordable Price: Priced at just $65,000 per acre.; - Versatile Use: Ideal for small industrial yards and home sites.; - Potential for Expansion: Combine yards to accommodate larger requirements.
    (512) 970-1610
    Request Owner's contact information
    2842 Prt Alto Dr Midland, TX 79705
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2842 Prt Alto Dr
    Midland, TX 79705
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2842 Prt Alto Dr Midland, TX 79705
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Thomas Johnston
    Thomas Johnston
    Real Estate License ID: 542176
    (512) 970-1610
    Learn more
    Google sign-in failed. Please try again or use another login method.