Warehouse With Two-Story
For Sale
$1,375,000
S County Rd 1120, Midland, TX 79706
COMMERCIAL - Midland, TX
Property Size7,500 SF
Lot Size3.18 Acres
Price / SF$183.33
Days on Market260
Property Features for S County Rd 1120
General Information
Property type
Commercial Sale
Property subtype
Other
Property condition
Under Construction
Subdivision
MG3
Standard status
Active
Size
7,500 SF
Lot size
3.18 Acres
Taxes and HOA fees
Tax Description
Acres: 1.398, BLK: 001, LOT:011, DUNN RANCH ESTATES
Tax Annual Amount
25160
Legal Description
Acres: 1.398, BLK: 001, LOT:011, DUNN RANCH ESTATES
Amenities
monument signage
landscaping
Building Details
Year built
2025
Listing Agency:
NRG Realty Group, LLC
(432) 432-7976
Listed By:
Justin Dodd · License #9004023
(214) 534-7976
Added: Dec 9, 2025
Changed: Aug 4
Last Checked: Aug 26 at 9:06AM
MLS# 50087335
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 7,500-square-foot warehouse is under construction on 3.18 acres in Dunn Ranch. The building features a two-level glass entrance with vaulted ceilings, exposed structural beams, a chandelier, and premium interior finishes. Industrial specifications include 24-foot eave height, four 14-by-16-foot bay doors with an option for a fifth, 15-ton crane readiness, and 400A 480V three-phase power. A 1,500-square-foot wash bay is also available as an option.
The property is located on S County Rd 1120 in Midland, Texas. Site improvements include monument signage, a fenced perimeter, and landscaping. Covered parking for 11 vehicles is available as an optional feature. Completion is identified for 2025.
The property is located on S County Rd 1120 in Midland, Texas. Site improvements include monument signage, a fenced perimeter, and landscaping. Covered parking for 11 vehicles is available as an optional feature. Completion is identified for 2025.
Key Highlights
- 7,500 SF warehouse on 3.18 acres, under construction for 2025 completion
- 15‑ton crane‑ready design with 24‑foot eave height
- Four 14'x16' bay doors, with an option for a fifth
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
$81,691
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
5.94%
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%
$1,633,820
$1.6M
Cap Rate 7%
$1,167,014
$1.2M
Cap Rate 9%
$907,678
$907.7K
Market Conditions
NOI Build-Up for 7,500 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
$101.7K $13.56/SF
− Vacancy
−$5.6K −$0.75/SF
EGI
$96.1K $12.81/SF
− OpEx
−$14.4K −$1.92/SF
NOI
$81.7K $10.89/SF
Area
Midland, TX
Vacancy
5.50%
Lease Rate
$13.56 /SF/Yr
Expense Ratio
15.00%
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%
$1,633,820
Cap Rate 7%
$1,167,014
Cap Rate 9%
$907,678
Alternative Uses
Best Use
Warehouse
$1.17M
$1.02M – $1.36M
NOI $81,691 @ 7.0% cap · market cap 5.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.77M
$1.55M – $2.06M
NOI $123,840 @ 7.0% cap · market cap 9.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
28
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 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?
Warehouse - Industrial facility under construction with crane-ready capacity, high-clearance bays, and heavy electrical service.
Where is this warehouse located?
The property is located at S County Rd 1120 Midland, TX.
What is the asking price?
The asking price for this property is $1,375,000.
What are key features of this property?
This property features: 7,500 SF warehouse on 3.18 acres, under construction for 2025 completion; 15‑ton crane‑ready design with 24‑foot eave height; Four 14'x16' bay doors, with an option for a fifth
