Live-Work Property with
1101 E County Rd 120, Midland, TX 79706
For Sale
$569,500
An insulated commercial shop and office accompany an updated four-bedroom residence with dedicated outdoor improvements.
Property Size4,900 SF
Lot Size1.00 Acre
Price / SF$251.88
Days on Market98
Property Features for 1101 E County Rd 120
General Information
Standard status
Size
Lot size
Warehouse & Industrial
Warehouse Space
Office Build-Out
Additional Details
Office Units
Building Details
Year Built
Building Size
Tenancy
Listing Agency:
Tracy Farrow Realty, LLC
Listed By:
Tracy Farrow · License TX #0614851
(432) 413-4412
Source:
Billlanier
Added: Aug 7
Changed: Nov 6
Last Checked: Nov 12 at 10:23AM
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 Tracy Farrow Realty, LLC
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Investment Insights
Based on property information with market context.
This live-work property combines a substantial insulated shop with an attached office and a residential component. The shop measures 35x120, while the 700-square-foot office is heated and cooled and includes a half bath. The updated home offers 4 bedrooms and 2 bathrooms, with hardwood flooring, a living room fireplace, and a kitchen arranged beside the dining area. The primary suite includes dual sinks and a walk-in closet.
Outdoor improvements include a fenced backyard, covered patio, 24x24 carport, mature landscaping, and a water well with storage tank. A concrete well house is also included. The property encompasses one acre at 1101 E County Rd 120 in Midland, Texas, and was built in 1955.
Outdoor improvements include a fenced backyard, covered patio, 24x24 carport, mature landscaping, and a water well with storage tank. A concrete well house is also included. The property encompasses one acre at 1101 E County Rd 120 in Midland, Texas, and was built in 1955.
Key Highlights
- 35x120 insulated shop with attached 700 SF heated and cooled office
- Updated 4‑bedroom, 2‑bath home with hardwood floors and fireplace
- Primary suite includes dual sinks and a walk‑in closet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,349
Cap Rate
4.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$546,980
$547.0K
Cap Rate 7%
$390,700
$390.7K
Cap Rate 9%
$303,878
$303.9K
Market Conditions
NOI Build-Up for 2,261 SF
Gross rent
$43.4K $19.20/SF
− Vacancy
−$6.9K −$3.07/SF
EGI
$36.5K $16.13/SF
− OpEx
−$9.1K −$4.03/SF
NOI
$27.3K $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%
$546,980
Cap Rate 7%
$390,700
Cap Rate 9%
$303,878
Alternative Uses
Best Use
Office B
$390.7K
$341.9K – $455.8K
NOI $27,349 @ 7.0% cap · market cap 4.80%
Second Best
Mixed Use
$385.8K
$337.6K – $450.1K
NOI $27,005 @ 7.0% cap · market cap 4.74%
Theoretical Best
Office A
$533.3K
$466.7K – $622.2K
NOI $37,334 @ 7.0% cap · market cap 6.56%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
1
Office units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
60
Businesses Nearby
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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
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Live-work space - An insulated commercial shop and office accompany an updated four-bedroom residence with dedicated outdoor improvements.
Where is this live-work space located?
The property is located at 1101 E County Rd 120 Midland, TX.
What is the asking price?
The asking price for this property is $569,500.
What are key features of this property?
This property features: 35x120 insulated shop with attached 700 SF heated and cooled office; Updated 4‑bedroom, 2‑bath home with hardwood floors and fireplace; Primary suite includes dual sinks and a walk‑in closet
