Flex Property with Interstate
For Sale
$4,160,000
Tract 1 E I-20 Midland, Midland, TX 79706
Mixed office, shop, garage, and covered outdoor improvements support a range of commercial functions.
Property Size17,805 SF
Price / SF$233.64
Days on Market91
Property Features for Tract 1 E I-20 Midland
General Information
Standard status
Active
Size
17,805 SF
Building Details
Year Built
2006
Listing Agency:
RE/MAX GO
Listed By:
Frank Bisono · License #714579
(830) 312-9332
Source:
Fbisono.remax
Added: Jul 8
Changed: Oct 4
Last Checked: Oct 5 at 3:57PM
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 RE/MAX GO
Investment Insights
Based on property information with market context.
This flex property in Midland, Texas, encompasses 18 acres with a 17,805-square-foot building completed in 2006. Approximately 12,000 square feet includes heating and air conditioning, while the balance consists of a carbarn, garage, shop, porches, and awnings. The improvements also include a home/office with finished interiors, appliances, and fixtures, plus a 1500' sqft solid concrete-cased safe room that can serve as a tornado shelter or secure room.
The tract has 900 feet of frontage along I-20 and overlooks a 2/3-acre lake. The combination of office, conditioned interior area, service-oriented improvements, covered spaces, and substantial land creates a distinctive flex-space configuration.
The tract has 900 feet of frontage along I-20 and overlooks a 2/3-acre lake. The combination of office, conditioned interior area, service-oriented improvements, covered spaces, and substantial land creates a distinctive flex-space configuration.
Key Highlights
- 18 acres within Tract 1 of a 43.5‑acre tract
- 900' of I‑20 frontage
- 17,805 sqft building constructed in 2006
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$215,369
Cap Rate
5.18%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,307,380
$4.3M
Cap Rate 7%
$3,076,700
$3.1M
Cap Rate 9%
$2,392,989
$2.4M
Market Conditions
NOI Build-Up for 17,805 SF
Gross rent
$341.9K $19.20/SF
− Vacancy
−$54.7K −$3.07/SF
EGI
$287.2K $16.13/SF
− OpEx
−$71.8K −$4.03/SF
NOI
$215.4K $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 Rate 5%
$4,307,380
Cap Rate 7%
$3,076,700
Cap Rate 9%
$2,392,989
Alternative Uses
Best Use
Office B
$3.08M
$2.69M – $3.59M
NOI $215,369 @ 7.0% cap · market cap 5.18%
Second Best
Industrial
$2.28M
$2.00M – $2.66M
NOI $159,710 @ 7.0% cap · market cap 3.84%
Theoretical Best
Office A
$4.20M
$3.67M – $4.90M
NOI $293,996 @ 7.0% cap · market cap 7.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
387
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 79706, TX
31,805
Population
12,368
Households
2.6
Avg Household Size
32
Median Age
23%
College-Educated
87%
High-School Grad
689.5 sq mi
ZIP Area
46
Density / Sq Mi
$110,988
Median Household Income
$58,023
Median Earnings
$897
Median Rent
$280,500
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Similar Off Market Nearby
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Frequently Asked Questions
What type of property is this?
Flex space - Mixed office, shop, garage, and covered outdoor improvements support a range of commercial functions.
Where is this flex space located?
The property is located at Tract 1 E I-20 Midland Midland, TX.
What is the asking price?
The asking price for this property is $4,160,000.
What are key features of this property?
This property features: 18 acres within Tract 1 of a 43.5‑acre tract; 900' of I‑20 frontage; 17,805 sqft building constructed in 2006
