Flex Warehouse with
For Sale
$850,000
10904 Hwy 191, Midland, TX 79707
Newer flex facility offers fenced yard, 1,500 sf office space, and 1,500 sf shop space with a 14' door.
Property Size3,000 SF
Price / SF$283.33
Days on Market95
Property Features for 10904 Hwy 191
General Information
Standard status
Active
Size
3,000 SF
Site & Location
Highway Access
Yes
Road Access
Yes
Fenced Yard
Yes
Building Details
Year Built
2023
Listing Agency:
The Real Estate Ranch LLC
Listed By:
Shana Curry
(432) 556-7333
Source:
Hauspg
Added: Jul 20
Changed: Oct 9
Last Checked: Oct 7 at 1:03PM
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 The Real Estate Ranch LLC
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Investment Insights
Based on property information with market context.
This newer flex warehouse includes approximately 1,500 square feet of office space and approximately 1,500 square feet of shop space. The office features a reception area, three offices, a workroom, storage, a kitchen, and a full bathroom with a shower. The workshop includes RV hookups, additional storage, a 14' door, and a tool cage.
The property is located right off Hwy 191 between Midland and Odessa, with access to FM 1788 to Andrews and the Interstate. It offers an easy drive to Midland, Gardendale, Andrews, and Odessa.
The yard is fully fenced, supporting a worksite setup for equipment and ongoing operations.
The property is located right off Hwy 191 between Midland and Odessa, with access to FM 1788 to Andrews and the Interstate. It offers an easy drive to Midland, Gardendale, Andrews, and Odessa.
The yard is fully fenced, supporting a worksite setup for equipment and ongoing operations.
Key Highlights
- Built in 2023: newer flex facility with a fenced yard
- 1,500 SF office space with reception, 3 offices, workroom, storage, kitchen, and a full bathroom with shower
- 1,500 SF shop/workshop area with a 14' door and tool cage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,288
Cap Rate
4.27%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$725,760
$725.8K
Cap Rate 7%
$518,400
$518.4K
Cap Rate 9%
$403,200
$403.2K
Market Conditions
NOI Build-Up for 3,000 SF
Gross rent
$57.6K $19.20/SF
− Vacancy
−$9.2K −$3.07/SF
EGI
$48.4K $16.13/SF
− OpEx
−$12.1K −$4.03/SF
NOI
$36.3K $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%
$725,760
Cap Rate 7%
$518,400
Cap Rate 9%
$403,200
Alternative Uses
Best Use
Office B
$518.4K
$453.6K – $604.8K
NOI $36,288 @ 7.0% cap · market cap 4.27%
Second Best
Industrial
$384.4K
$336.4K – $448.5K
NOI $26,910 @ 7.0% cap · market cap 3.17%
Theoretical Best
Office A
$707.7K
$619.2K – $825.6K
NOI $49,536 @ 7.0% cap · market cap 5.83%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
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
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
Frequently Asked Questions
What type of property is this?
Flex space - Newer flex facility offers fenced yard, 1,500 sf office space, and 1,500 sf shop space with a 14' door.
Where is this flex space located?
The property is located at 10904 Hwy 191 Midland, TX.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Built in 2023: newer flex facility with a fenced yard; 1,500 SF office space with reception, 3 offices, workroom, storage, kitchen, and a full bathroom with shower; 1,500 SF shop/workshop area with a 14' door and tool cage
