Flex Space with Fenced
For Sale
Contact for pricing
1101 S County Road 1302, Midland, TX 79707
Mixed office, shop, and wash-bay improvements with specialized power and lifting equipment.
Property Size7,500 SF
Lot Size2.74 Acres
Price / SF$266.67
Days on Market10
Property Features for 1101 S County Road 1302
General Information
Standard status
Active
Size
7,500 SF
Lot size
2.74 Acres
Property subtype
INDUSTRIAL
Warehouse & Industrial
Voltage
480 V
Three-Phase Power
Yes
Additional Details
Fenced Yard
Yes
Amenities
Conex locker room with shower
Building Details
Building Size
7,500 SF
Listing Agency:
NRG Realty Group - Dallas/Fort Worth
(214) 325-4851
Listed By:
John W. B. McDaniel · License #405514
(214) 325-4851
Source:
Moodyscre
Added: Aug 20
Changed: Aug 29
Last Checked: Aug 29 at 9:13AM
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 NRG Realty Group - Dallas/Fort Worth
Investment Insights
Based on property information with market context.
This flex property provides 7,500 SF across 2.74 acres, with a combination of office/apartment areas, shop space, and a dedicated wash-bay. The improvements include 2,500 SF of office/apartments, a 3,750 SF shop, and a 1,250 SF wash-bay. A 5-ton crane, 3-Phase 480v/220v power, and a shop restroom support industrial and operational uses. The site also includes a fenced yard, a Conex locker room with shower, and furniture included with the property. Renovation work is underway.
Located at 1101 S County Road 1302 in Midland, Texas, the property combines enclosed improvements with outdoor yard area on a sizable tract. Its varied layout and existing specialized features provide a functional base for a range of flex-oriented operations.
Located at 1101 S County Road 1302 in Midland, Texas, the property combines enclosed improvements with outdoor yard area on a sizable tract. Its varied layout and existing specialized features provide a functional base for a range of flex-oriented operations.
Key Highlights
- 7,500 SF total on 2.74 acres
- 2,500 SF office/apartments, 3,750 SF shop, and 1,250 SF wash‑bay
- 5‑ton crane and 3‑Phase 480v/220v power
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$67,275
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.36%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,345,500
$1.3M
Cap Rate 7%
$961,071
$961.1K
Cap Rate 9%
$747,500
$747.5K
Market Conditions
NOI Build-Up for 7,500 SF
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.
Gross rent
$101.7K $13.56/SF
− Vacancy
−$5.6K −$0.75/SF
EGI
$96.1K $12.81/SF
− OpEx
−$28.8K −$3.84/SF
NOI
$67.3K $8.97/SF
Area
Midland, TX
Vacancy
5.50%
Lease Rate
$13.56 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,345,500
Cap Rate 7%
$961,071
Cap Rate 9%
$747,500
Alternative Uses
Best Use
Industrial
$961.1K
$840.9K – $1.12M
NOI $67,275 @ 7.0% cap · market cap 3.36%
Second Best
Flex RnD
$942.7K
$824.9K – $1.10M
NOI $65,988 @ 7.0% cap · market cap 3.30%
Theoretical Best
Office A
$1.77M
$1.55M – $2.06M
NOI $123,840 @ 7.0% cap · market cap 6.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
1,123
Businesses Nearby
Balanced
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
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Carter & Burgess Inc — 505 N Big Spring St, Midland, TX 79701
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Frequently Asked Questions
What type of property is this?
Flex space - Mixed office, shop, and wash-bay improvements with specialized power and lifting equipment.
Where is this flex space located?
The property is located at 1101 S County Road 1302 Midland, TX.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: 7,500 SF total on 2.74 acres; 2,500 SF office/apartments, 3,750 SF shop, and 1,250 SF wash‑bay; 5‑ton crane and 3‑Phase 480v/220v power
