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Enclosed Flex Shop with Office

1317 W County Rd 114 Midland, TX 79706

Claim this Listing
For Sale
$489,000

COMMERCIAL - Midland, TX

Property size:
3,140 SF
Lot size:
0.50 Acres
Price / SF:
$155.73/SF
Added:
Apr 3, 2026
Days on Market:
103
Last Refresh:
Jul 14 at 4:06 am

Property Features for 1317 W County Rd 114

General Information

Property type
Commercial Sale
Property subtype
Other
Standard status
Active
Size
3,140 SF
Lot size
0.50 Acres

Taxes and HOA fees

Tax Description
Acres: 0.500, N 129.5' OF BLK: 003, LOT: 013, ADDN: SOUTH 349 ACRES
Tax Annual Amount
1289

Building Details

Year built
2017

Listing agent Lauren Greenhaw

Listing office Heritage Real Estate 5030 E University Suite B 401, Odessa, TX

Listing date Apr 3, 2026

MLS# 50094022

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 enclosed flex property combines a 40' x 60' shop with a 20' x 40' office space, creating a single location for workspace and storage. The shop includes 14' overhead doors, full insulation, and a 3-phase electrical supply. A solid metal privacy fence fully encloses the property, and there is covered parking for equipment or vehicles. Utilities are already in place with a water well and septic system, supporting immediate on-site use.

The property is located in Midland, TX, about half a mile from Interstate 20, providing straightforward regional access for businesses that require both a secure work yard and an office component.

The layout is well suited for owner-users and tenants that want an all-in-one setup, pairing shop space and functional office area within a fully enclosed, secured property. With the overhead door capacity, insulated building shell, and three-phase power, the site supports a range of industrial and flex applications where vehicle and equipment access matter, while the office space accommodates day-to-day operations from the same address.

Key Highlights

  • Strategically located just half a mile from Interstate 20.
  • Versatile 40' x 60' shop with a 20' x 40' office space.
  • Features 14' overhead doors and a 3‑phase electrical supply.

Local 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 $60.3k $19.20
− Vacancy −$9.6k −$3.07
EGI $50.6k $16.13
− OpEx −$12.7k −$4.03
NOI $38.0k $12.10
3,140 SF · lease $19.20/SF/yr · vacancy 16.00% · expense 25.00%

Alternative Uses

Best Use
Office B
$542.6K
$474.8K – $633.0K (±1% cap)
NOI $37,981 @ 7.0% cap · market cap 7.77%
Second Best
Warehouse
$488.6K
$427.5K – $570.0K (±1% cap)
NOI $34,201 @ 7.0% cap · market cap 6.99%
Theoretical Best
Office A
$740.7K
$648.1K – $864.1K (±1% cap)
NOI $51,848 @ 7.0% cap · market cap 10.60%
Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Flex space

Suggested Use

Hair Salon (Bike/Boat/Book/etc) Store Locksmith HVAC Service Skin Care Clinic Cafe & Coffee Shop Barber Shop (Bike/Boat/Book/etc) Store Electrical Service Computer & Electronic Repair

Zoning and permitted uses should be independently verified with local authorities.

FAQs

What type of property is this?
Flex space - Enclosed shop with office buildout, 14' overhead doors, insulation, 3-phase power, and covered parking for storage and work needs.
Where is this flex space located?
The property is located at 1317 W County Rd 114 Midland, TX.
What is the asking price?
The asking price for this property is $489,000.
What are key features of this property?
This property features: Strategically located just half a mile from Interstate 20.; Versatile 40' x 60' shop with a 20' x 40' office space.; Features 14' overhead doors and a 3‑phase electrical supply.
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More about this property
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