Executive Office Warehouse with Overhead
For Sale
$2,999,000
10804 Hwy 191, Midland, TX 79707
Warehouse/shop includes three overhead doors with automatic openers, paired with a Class A executive office suite.
Property Size11,000 SF
Price / SF$272.64
Days on Market93
Property Features for 10804 Hwy 191
General Information
Standard status
Active
Size
11,000 SF
Building Details
Year Built
2019
Listing Agency:
Realty Texas, LLC
Listed By:
Deborah Julian · License #0658250
(432) 934-2295
Source:
Billlanier
Added: Jul 20
Changed: Oct 6
Last Checked: Oct 19 at 12:42PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Realty Texas, LLC
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Investment Insights
Based on property information with market context.
This Class A executive office/warehouse combines a dedicated office buildout with a functional warehouse/shop area. The executive office is 5,500 sq. ft. with 513 sq. ft. of mezzanine entry, including 6 offices. The primary office features a full bath, conference room, kitchen, and two half baths, along with a media room. There is also a 200 sq. ft. showroom located at the entry and additional kitchen space associated with the office/warehouse layout. The warehouse/shop includes three overhead doors with automatic openers, an upper decked area for extra storage, and an office/kitchen component.
The property sits on 2.23 acres, all paved, with 3,000 sq. ft. of covered parking. The site is served by City of Midland utilities and is located at Hwy 191 & FM 1788 in Midland, Texas.
The property sits on 2.23 acres, all paved, with 3,000 sq. ft. of covered parking. The site is served by City of Midland utilities and is located at Hwy 191 & FM 1788 in Midland, Texas.
Key Highlights
- Class A executive office/warehouse built in 2019 on 2.23 acres with all‑paved site
- Executive office totals 5,500 SF plus 513 SF of mezzanine entry
- Warehouse/shop includes three overhead doors with automatic openers
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$133,056
Cap Rate
4.44%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,661,120
$2.7M
Cap Rate 7%
$1,900,800
$1.9M
Cap Rate 9%
$1,478,400
$1.5M
Market Conditions
NOI Build-Up for 11,000 SF
Gross rent
$211.2K $19.20/SF
− Vacancy
−$33.8K −$3.07/SF
EGI
$177.4K $16.13/SF
− OpEx
−$44.4K −$4.03/SF
NOI
$133.1K $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 Rate 5%
$2,661,120
Cap Rate 7%
$1,900,800
Cap Rate 9%
$1,478,400
Alternative Uses
Best Use
Office B
$1.90M
$1.66M – $2.22M
NOI $133,056 @ 7.0% cap · market cap 4.44%
Second Best
Warehouse
$1.71M
$1.50M – $2.00M
NOI $119,813 @ 7.0% cap · market cap 4.00%
Theoretical Best
Office A
$2.59M
$2.27M – $3.03M
NOI $181,632 @ 7.0% cap · market cap 6.06%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
144
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 79707, TX
37,632
Population
16,654
Households
2.3
Avg Household Size
35
Median Age
41%
College-Educated
91%
High-School Grad
71.0 sq mi
ZIP Area
530
Density / Sq Mi
$99,979
Median Household Income
$58,351
Median Earnings
$1,383
Median Rent
$382,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Flex space - Warehouse/shop includes three overhead doors with automatic openers, paired with a Class A executive office suite.
Where is this flex space located?
The property is located at 10804 Hwy 191 Midland, TX.
What is the asking price?
The asking price for this property is $2,999,000.
What are key features of this property?
This property features: Class A executive office/warehouse built in 2019 on 2.23 acres with all‑paved site; Executive office totals 5,500 SF plus 513 SF of mezzanine entry; Warehouse/shop includes three overhead doors with automatic openers
