Midland Warehouse with Outdoor
For Sale
Contact for pricing
1311 E County Rd 119, Midland, TX
6,750 SF warehouse on 3.65 acres near Interstate 20.
Property Size6,750 SF
Lot Size4.29 Acres
Price / SF$197.53
Days on Market519
Property Features for 1311 E County Rd 119
General Information
Standard status
Active
Size
6,750 SF
Lot size
4.29 Acres
Property subtype
INDUSTRIAL
Listing Agency:
NRG Realty Group - Dallas/Fort Worth
(214) 534-7976
Listed By:
Justin Dodd · License #9004023
(214) 534-7976
Source:
Moodyscre
Added: Mar 26, 2025
Changed: Jul 10
Last Checked: Aug 25 at 2:10PM
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 property features a 6,750 square foot building on 3.65 acres, located just south of Interstate 20 in Midland, Texas. Constructed in 2019, the building includes 1,750 square feet of office space and 5,000 square feet of warehouse space. The property is currently occupied by Express Energy Services, a leading oilfield services company, under a single tenant net lease. The lease is a triple-net lease with auto-renewal options and is in effect through January 31, 2028. The property has city water and septic sewer. It also features six 16-foot overhead doors. The operating expenses include billing the tenant for property management, structural repairs, property taxes, and insurance. The property can be expanded and includes outdoor storage.
Key Highlights
- Single Tenant Net Lease with Auto Renewal Options
- Occupied by Express Energy Services through 1/31/2028, NNN Lease
- Strategic Location just South of Interstate 20 in Midland, TX
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
$73,521
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
5.51%
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%
$1,470,420
$1.5M
Cap Rate 7%
$1,050,300
$1.1M
Cap Rate 9%
$816,900
$816.9K
Market Conditions
NOI Build-Up for 6,750 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
$91.5K $13.56/SF
− Vacancy
−$5.0K −$0.75/SF
EGI
$86.5K $12.81/SF
− OpEx
−$13.0K −$1.92/SF
NOI
$73.5K $10.89/SF
Area
Midland, TX
Vacancy
5.50%
Lease Rate
$13.56 /SF/Yr
Expense Ratio
15.00%
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%
$1,470,420
Cap Rate 7%
$1,050,300
Cap Rate 9%
$816,900
Alternative Uses
Best Use
Warehouse
$1.05M
$919.0K – $1.23M
NOI $73,521 @ 7.0% cap · market cap 5.51%
Second Best
Industrial
$865.0K
$756.8K – $1.01M
NOI $60,547 @ 7.0% cap · market cap 4.54%
Theoretical Best
Office A
$1.59M
$1.39M – $1.86M
NOI $111,456 @ 7.0% cap · market cap 8.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
93
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- DeVaLe Self Storage, Storage Units in Midland, TX 432-413-1770 — 100 e county rd 120, midland, tx 79706
- Devale Storage Center — 100 E County Rd 120, Midland, TX 79706
- American RV & Boat Storage — Midland, TX 79706
- United Rentals - Storage Containers and Mobile Offices — 2636 S CR-1180, Midland, TX 79706
Frequently Asked Questions
What type of property is this?
Warehouse - 6,750 SF warehouse on 3.65 acres near Interstate 20.
Where is this warehouse located?
The property is located at 1311 E County Rd 119 Midland, TX.
What is the asking price?
The asking price for this property is $1,333,333.
What are key features of this property?
This property features: Single Tenant Net Lease with Auto Renewal Options; Occupied by Express Energy Services through 1/31/2028, NNN Lease; Strategic Location just South of Interstate 20 in Midland, TX
