Office Building with
For Sale
$1,200,000
5914 FM 715, Midland, TX 79706
Commercial Sale, Midland, TX
Property Size5,580 SF
Lot Size3.00 Acres
Price / SF$215.05
Days on Market92
Property Features for 5914 FM 715
General Information
Property type
Residential
Property subtype
Office
Fencing
Chain Link, Fenced
Accessibility
Accessible Approach with Ramp
Subdivision
38T2S
Lot features
Corner Lot
Standard status
Active
APN
R00020648
Size
5,580 SF
Lot size
3.00 Acres
Taxes and HOA fees
Tax Annual Amount
6905
Utilities
Water source
Well
Building Details
Year built
2012
Building materials
Metal Construction
Roof type
Metal
Listing Agency:
The Sales Team Realtors
(432) 618-1818
Listed By:
Jessica Carreon
(432) 312-4567
Added: Jun 15
Changed: Sep 13
Last Checked: Sep 14 at 6:06AM
MLS# 175427
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.
The property is a for-sale office building totaling 5,580 square feet, situated on 3 acres. The listing provides a single, consolidated facility footprint and a defined site area, offering a straightforward option for an owner-operator or investor seeking an office-oriented asset.
Located at 5914 FM 715 in Midland, Texas 79706 (Midland County), the property sits on a road identified in the address as FM 715. The information provided does not break out additional improvements, unit mix, or interior layout, but the site size may support a variety of light commercial office uses depending on tenant requirements and permitting.
This offering may suit tenants or buyers looking for a dedicated office building with room associated with a larger land parcel, rather than a strictly small lot redevelopment. Because the listing details do not specify current tenant status, interior condition, or utility/service specifics, prospective buyers and tenants should conduct their own due diligence on building systems and functionality for their intended office use.
Located at 5914 FM 715 in Midland, Texas 79706 (Midland County), the property sits on a road identified in the address as FM 715. The information provided does not break out additional improvements, unit mix, or interior layout, but the site size may support a variety of light commercial office uses depending on tenant requirements and permitting.
This offering may suit tenants or buyers looking for a dedicated office building with room associated with a larger land parcel, rather than a strictly small lot redevelopment. Because the listing details do not specify current tenant status, interior condition, or utility/service specifics, prospective buyers and tenants should conduct their own due diligence on building systems and functionality for their intended office use.
Key Highlights
- Metal construction with a metal roof
- Built in 2012
- Water source from a well
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
$67,496
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
5.62%
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%
$1,349,920
$1.3M
Cap Rate 7%
$964,229
$964.2K
Cap Rate 9%
$749,956
$750.0K
Market Conditions
NOI Build-Up for 5,580 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
$107.1K $19.20/SF
− Vacancy
−$17.1K −$3.07/SF
EGI
$90.0K $16.13/SF
− OpEx
−$22.5K −$4.03/SF
NOI
$67.5K $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%
$1,349,920
Cap Rate 7%
$964,229
Cap Rate 9%
$749,956
Alternative Uses
Best Use
Office B
$964.2K
$843.7K – $1.12M
NOI $67,496 @ 7.0% cap · market cap 5.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.32M
$1.15M – $1.54M
NOI $92,137 @ 7.0% cap · market cap 7.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
44
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
Cap Rate, Value Estimation, Potential NOI and more
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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 - For sale office property totaling 5,580 square feet on 3 acres along FM 715 in Midland, Texas.
Where is this office building located?
The property is located at 5914 FM 715 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: Metal construction with a metal roof; Built in 2012; Water source from a well
