Live-Work Property with Insulated
1101 E County Rd 120 Midland, TX 79706
New
For Sale
$575,000
SINGLE_FAMILY - Midland, TX
Property Size2,261 SF
Lot Size1.00 Acre
Price / SF$254.31
Days on Market3
Property Features for 1101 E County Rd 120
General Information
- Property type
- Residential
- Property subtype
- Retail
- Standard status
- Active
- Size
- 2,261 SF
- Lot size
- 1.00 Acre
Taxes and HOA fees
- Tax Description
- Legal: Acres: 1.000, Subd: REESE ACRES, TRACT:068,,ADDN: REESE ACRES
- Tax Annual Amount
- 3501
Building Details
- Year built
- 1955
Listing Agency:
Tracy Farrow Realty
(432) 218-8844
Listed By:
Tracy Farrow · License #0614851
(432) 413-4412
Added: Jul 24
Last Checked: Jul 26 at 12:06PM
MLS# 50097000
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 versatile live-work property is set on one acre and combines a large insulated shop with an attached heated and cooled office. The shop measures 35x120 and includes a half bath, providing space for a range of business or commercial operations. The attached office is 700 square feet and is supported by an updated residential structure with hardwood floors, a living room with a fireplace, and a spacious kitchen open to the dining area. The home also offers four bedrooms and two bathrooms, including a large primary suite with dual sinks and a walk-in closet. Outdoor improvements include a fenced backyard, a covered patio, a 24x24 carport, and mature landscaping.
Additional site features include a water well with storage tank and a concrete well house. The property is located in Midland, Texas, at 1101 E County Rd 120 (Midland, TX 79706).
Additional site features include a water well with storage tank and a concrete well house. The property is located in Midland, Texas, at 1101 E County Rd 120 (Midland, TX 79706).
Key Highlights
- One‑acre live/work property with a 35x120 insulated shop plus a 700 SF heated and cooled office with half bath
- Updated 4‑bed, 2‑bath home with hardwood floors, living room fireplace, and spacious kitchen open to dining area
- Large primary suite with dual sinks and walk‑in closet
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 | $43.4k | $19.20 |
| − Vacancy | −$6.9k | −$3.07 |
| EGI | $36.5k | $16.13 |
| − OpEx | −$9.1k | −$4.03 |
| NOI | $27.3k | $12.10 |
2,261 SF · lease $19.20/SF/yr · vacancy 16.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$390.7K
$341.9K – $455.8K
NOI $27,349 @ 7.0% cap · market cap 4.76%
Second Best
Mixed Use
$385.8K
$337.6K – $450.1K
NOI $27,005 @ 7.0% cap · market cap 4.70%
Theoretical Best
Office A
$533.3K
$466.7K – $622.2K
NOI $37,334 @ 7.0% cap · market cap 6.49%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
elite roofing
Roofing Company
Midland Gallery Homes
Construction Company
FAQs
What type of property is this?
Live-work space - Includes an insulated 35x120 shop with attached heated and cooled office, plus an updated 4-bedroom home.
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 $575,000.
What are key features of this property?
This property features: One‑acre live/work property with a 35x120 insulated shop plus a 700 SF heated and cooled office with half bath; Updated 4‑bed, 2‑bath home with hardwood floors, living room fireplace, and spacious kitchen open to dining area; Large primary suite with dual sinks and walk‑in closet
