Office Building For
For Sale
$799,000
1104 Missouri Ave, Midland, TX 79701
Office building available for sale in Midland, TX, offering commercial space for prospective owners or tenants.
Property Size3,765 SF
Price / SF$212.22
Days on Market50
Property Features for 1104 Missouri Ave
General Information
Standard status
Active
Size
3,765 SF
Property subtype
Office
Taxes and HOA fees
Annual Taxes
$5,438
Amenities
Electric
3
Covered, Paved Driveway.
City Road, Paved Road.
Building Details
Year Built
1927
Stories
2
Listing Agency:
Ricker-Looney Realtors
(432) 889-6402
Listed By:
Taylor Looney · License #514308
(432) 889-6402
Source:
Xome
Added: Jul 13
Changed: Aug 12
Last Checked: Aug 30 at 3:33PM
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 Ricker-Looney Realtors
Investment Insights
Based on property information with market context.
This office building is offered for sale and provides approximately 3,765 square feet of commercial space. The property falls under the office building and office space categories, making it suitable for office-oriented uses.
The asset is located at 1104 W Missouri Ave in Midland, Texas. As listed, no additional details were provided regarding specific interior layout, building condition, parking, or visibility features.
For buyers or tenants looking for an office building with defined commercial square footage, this property presents a straightforward opportunity based on the information available.
The asset is located at 1104 W Missouri Ave in Midland, Texas. As listed, no additional details were provided regarding specific interior layout, building condition, parking, or visibility features.
For buyers or tenants looking for an office building with defined commercial square footage, this property presents a straightforward opportunity based on the information available.
Key Highlights
- Office building built in 1927 in Midland, TX
- Electric cooling
- Covered parking with paved driveway
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
$45,541
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
5.70%
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%
$910,820
$910.8K
Cap Rate 7%
$650,586
$650.6K
Cap Rate 9%
$506,011
$506.0K
Market Conditions
NOI Build-Up for 3,765 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
$72.3K $19.20/SF
− Vacancy
−$11.6K −$3.07/SF
EGI
$60.7K $16.13/SF
− OpEx
−$15.2K −$4.03/SF
NOI
$45.5K $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 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%
$910,820
Cap Rate 7%
$650,586
Cap Rate 9%
$506,011
Alternative Uses
Best Use
Office B
$650.6K
$569.3K – $759.0K
NOI $45,541 @ 7.0% cap · market cap 5.70%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$888.1K
$777.1K – $1.04M
NOI $62,168 @ 7.0% cap · market cap 7.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,246
Businesses Nearby
Explore this area
Business Placement
Demographics for 79701, TX
29,748
Population
11,393
Households
2.6
Avg Household Size
33
Median Age
19%
College-Educated
73%
High-School Grad
12.1 sq mi
ZIP Area
2,459
Density / Sq Mi
$57,679
Median Household Income
$36,213
Median Earnings
$1,336
Median Rent
$204,000
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Office building available for sale in Midland, TX, offering commercial space for prospective owners or tenants.
Where is this office building located?
The property is located at 1104 Missouri Ave Midland, TX.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Office building built in 1927 in Midland, TX; Electric cooling; Covered parking with paved driveway
