Industrial NNN Portfolio
For Sale
$6,200,000
921 County Rd 140, Midland, TX 79706
COMMERCIAL - Midland, TX
Property Size27,500 SF
Lot Size21.70 Acres
Price / SF$225.45
Days on Market52
Property Features for 921 County Rd 140
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
MS2
Standard status
Active
Size
27,500 SF
Lot size
21.70 Acres
Taxes and HOA fees
Tax Description
21.698 acres out of Section 9, Block 39, T-2-S, T & P RR Co. Survey, Midland, County, TX
Legal Description
21.698 acres out of Section 9, Block 39, T-2-S, T & P RR Co. Survey, Midland, County, TX
Building Details
Year built
2024
Listing Agency:
The Real Estate Ranch LLC
(432) 688-8200
Listed By:
Thomas Johnston ABR /CNHS · License #542176
(512) 970-1610
Added: Jun 10
Changed: Jul 22
Last Checked: Jul 31 at 12:06AM
MLS# 50095857
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 for-sale industrial portfolio includes multiple buildings on a 21.698-acre tract at 921 County Rd 140 in Midland, TX. The buildings range from approximately 5,000 to 7,500 square feet and sit on large, well-maintained tracts.
According to the listing, the property is fully leased with all NNN (Triple Net) leases in place. The site provides easy access to Highway 349 and I-20 for connectivity to surrounding areas, and the listing notes the airport is about 20 minutes away.
For investors, the offering is presented as an NNN-focused package intended to add leased industrial buildings to an existing portfolio.
According to the listing, the property is fully leased with all NNN (Triple Net) leases in place. The site provides easy access to Highway 349 and I-20 for connectivity to surrounding areas, and the listing notes the airport is about 20 minutes away.
For investors, the offering is presented as an NNN-focused package intended to add leased industrial buildings to an existing portfolio.
Key Highlights
- 21.698‑acre industrial tract in the Permian Basin with easy access to Highway 349 and I‑20
- Fully leased with all NNN (Triple Net) leases in place
- Investment portfolio includes multiple buildings totaling 5,000 to 7,500 SF each
Financial Insights For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $372.9k | $13.56 |
| − Vacancy | −$20.5k | −$0.75 |
| EGI | $352.4k | $12.81 |
| − OpEx | −$52.9k | −$1.92 |
| NOI | $299.5k | $10.89 |
27,500 SF · lease $13.56/SF/yr · vacancy 5.50% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$4.28M
$3.74M – $4.99M
NOI $299,532 @ 7.0% cap · market cap 4.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.49M
$5.68M – $7.57M
NOI $454,080 @ 7.0% cap · market cap 7.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
48
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
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
NNN property - 21.698-acre tract with multiple fully leased NNN buildings, with access to Highway 349 and I-20.
Where is this nnn property located?
The property is located at 921 County Rd 140 Midland, TX.
What is the asking price?
The asking price for this property is $6,200,000.
What are key features of this property?
This property features: 21.698‑acre industrial tract in the Permian Basin with easy access to Highway 349 and I‑20; Fully leased with all NNN (Triple Net) leases in place; Investment portfolio includes multiple buildings totaling 5,000 to 7,500 SF each
