Fenced Flex Space with Bay
For Sale
$1,200,000
308 E Louisiana Ave, Midland, TX 79701
Commercial Sale, Midland, TX
Property Size11,400 SF
Lot Size0.96 Acres
Price / SF$105.26
Days on Market244
Property Features for 308 E Louisiana Ave
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
Homestead
Standard status
Active
Size
11,400 SF
Lot size
0.96 Acres
Taxes and HOA fees
Tax Description
Acres: 0.964, BLK: 024, E/2 ALL (AKA 1 THRU 6), ADDN: HOMESTEAD
Tax Annual Amount
2003
Legal Description
Acres: 0.964, BLK: 024, E/2 ALL (AKA 1 THRU 6), ADDN: HOMESTEAD
Amenities
kitchenette
Building Details
Year built
1982
Listing Agency:
Caleb Matott Land & Ranch Sales
(432) 349-3330
Listed By:
Caleb Matott · License #TREC 0453625
(432) 219-2220
Added: Jan 7
Changed: Sep 1
Last Checked: Sep 8 at 10:06AM
MLS# 50087797
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 flex-space property at 308 E Louisiana Ave includes a 3,200-square-foot office area with a kitchenette and room for multiple offices. The facility also provides a 4,000-square-foot heated shop, an additional 3,200-square-foot secure storage area, and six overhead bay doors. The site is fully fenced and covers 0.96 acres.
Built in 1982, the property is located in downtown Midland, Texas. Its combination of office, shop, storage, and secured outdoor area supports a range of commercial operations requiring both workspace and enclosed service or storage capacity.
Built in 1982, the property is located in downtown Midland, Texas. Its combination of office, shop, storage, and secured outdoor area supports a range of commercial operations requiring both workspace and enclosed service or storage capacity.
Key Highlights
- 0.96‑acre fully fenced site in downtown Midland
- 3,200‑square‑foot office area with kitchenette and room for multiple offices
- 4,000‑square‑foot heated shop
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
$102,257
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
8.52%
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%
$2,045,140
$2.0M
Cap Rate 7%
$1,460,814
$1.5M
Cap Rate 9%
$1,136,189
$1.1M
Market Conditions
NOI Build-Up for 11,400 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
$154.6K $13.56/SF
− Vacancy
−$8.5K −$0.75/SF
EGI
$146.1K $12.81/SF
− OpEx
−$43.8K −$3.84/SF
NOI
$102.3K $8.97/SF
Area
Midland, TX
Vacancy
5.50%
Lease Rate
$13.56 /SF/Yr
Expense Ratio
30.00%
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%
$2,045,140
Cap Rate 7%
$1,460,814
Cap Rate 9%
$1,136,189
Alternative Uses
Best Use
Office B
$1.97M
$1.72M – $2.30M
NOI $137,894 @ 7.0% cap · market cap 11.49%
Second Best
Warehouse
$1.77M
$1.55M – $2.07M
NOI $124,170 @ 7.0% cap · market cap 10.35%
Theoretical Best
Office A
$2.69M
$2.35M – $3.14M
NOI $188,237 @ 7.0% cap · market cap 15.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
2,005
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 79701, TX
29,748
Population
11,393
Households
2.6
Avg Household Size
33
Median Age
19%
College-Educated
73%
High-School Grad
12.1 sq mi
ZIP Area
2,459
Density / Sq Mi
$57,679
Median Household Income
$36,213
Median Earnings
$1,336
Median Rent
$204,000
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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- Carter & Burgess Inc — 505 N Big Spring St, Midland, TX 79701
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Frequently Asked Questions
What type of property is this?
Flex space - Fenced commercial facility combines office, heated shop, and secure storage areas.
Where is this flex space located?
The property is located at 308 E Louisiana Ave Midland, TX.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 0.96‑acre fully fenced site in downtown Midland; 3,200‑square‑foot office area with kitchenette and room for multiple offices; 4,000‑square‑foot heated shop
