Retail-Office Flex
For Sale
$293,000
1005 N Midkiff Rd, Midland, TX 79701
SINGLE_FAMILY - Midland, TX
Property Size2,000 SF
Lot Size0.09 Acres
Price / SF$146.50
Days on Market91
Property Features for 1005 N Midkiff Rd
General Information
Property type
Residential
Property subtype
Retail
Subdivision
Lilly Heights
Standard status
Active
Size
2,000 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Description
North 20 feet of South 158.8 feet of E/2, Block 001, Lilly Heights Addition, Midland, Midland County, Texas.
Tax Annual Amount
3032
Legal Description
North 20 feet of South 158.8 feet of E/2, Block 001, Lilly Heights Addition, Midland, Midland County, Texas.
Building Details
Year built
1975
Listing Agency:
Heritage Real Estate
(432) 701-0550
Listed By:
Holly Bishop
(432) 559-7937
Added: May 7
Changed: Jul 27
Last Checked: Aug 5 at 12:06PM
MLS# 50095018
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 property offers approximately 2,000 square feet of flexible retail and office space. The layout includes an open showroom/retail area, two offices, and two restrooms, along with central heating and air conditioning. A covered back patio provides an additional outdoor area connected to the building.
Located in Midland on N Midkiff Rd, the property sits between W Cuthbert Ave and Hwy 191. The listing notes excellent visibility, strong traffic flow, and easy access, and the site is zoned LR-1.
The configuration supports a variety of tenant uses that require both front-facing retail/showroom space and enclosed office rooms, with restrooms and HVAC in place.
Located in Midland on N Midkiff Rd, the property sits between W Cuthbert Ave and Hwy 191. The listing notes excellent visibility, strong traffic flow, and easy access, and the site is zoned LR-1.
The configuration supports a variety of tenant uses that require both front-facing retail/showroom space and enclosed office rooms, with restrooms and HVAC in place.
Key Highlights
- Prime location on a high‑traffic corridor between W Cuthbert Ave & Hwy 191
- Flexible 2,000 sq ft space suitable for retail, office, fitness, or service‑based businesses
- Excellent visibility and easy access
Financial Insights For Office B
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 | $38.4k | $19.20 |
| − Vacancy | −$6.1k | −$3.07 |
| EGI | $32.3k | $16.13 |
| − OpEx | −$8.1k | −$4.03 |
| NOI | $24.2k | $12.10 |
2,000 SF · lease $19.20/SF/yr · vacancy 16.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$345.6K
$302.4K – $403.2K
NOI $24,192 @ 7.0% cap · market cap 8.26%
Second Best
Retail
$279.0K
$244.1K – $325.5K
NOI $19,530 @ 7.0% cap · market cap 6.67%
Theoretical Best
Office A
$471.8K
$412.8K – $550.4K
NOI $33,024 @ 7.0% cap · market cap 11.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
664
Businesses Nearby
Under-served
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
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- Manning's — 2820 w golf course rd, midland, tx 79701
Frequently Asked Questions
What type of property is this?
Storefront property - Flexible retail and office space includes an open showroom area, multiple offices, restrooms, and a covered back patio.
Where is this storefront property located?
The property is located at 1005 N Midkiff Rd Midland, TX.
What is the asking price?
The asking price for this property is $293,000.
What are key features of this property?
This property features: Prime location on a high‑traffic corridor between W Cuthbert Ave & Hwy 191; Flexible 2,000 sq ft space suitable for retail, office, fitness, or service‑based businesses; Excellent visibility and easy access
