Versatile Midland Property on
1501 N Fairgrounds Road, Midland, TX 79706
20,894 SF office, shop, and tote facility on 3.83 acres.
Type:Office - General Office
Property size:
20,894 SFLot size:
3.83 AcresPrice / SF:
$189/SF- Added:
- May 14, 2026
- Days on Market:
- 18
- Last Refresh:
- May 14 at 4:47 am
Property Features for 1501 N Fairgrounds Road
General Information
- Standard status
- Active
- Size
- 20,894 SF
- Lot size
- 3.83 Acres
- Property subtype
- Office - General Office
Building Details
- Year Built
- 1978
Listing agent Amy Brasher Barnett
Listing office NRG Realty Group
Listing date May 14, 2026
Source Commercialcafe
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
HighLights
- 20,894 SF of Executive Office, Shop, and Tote Facility Space on 3.83 Acres
- Main building features 13,754 SF of office space and 1,440 SF of shop space, remodeled in 2015
- Includes 22 private offices, executive suite with private shower, multiple restrooms, and open office area
- Two conference rooms are available: a smaller room and a larger training/conference room
- 5,700 SF tote facility behind the main building with ample outdoor work area
- Located in the Fairgrounds area of Midland, TX, with convenient access to Business 20, Interstate 20, and downtown
Overview
Located on Fairgrounds Road, approximately 0.8 miles north of Business 20, 2.6 miles north of Interstate 20, and 2.5 miles from Centennial Park in downtown Midland, Texas, this property features executive office space, shop space, and a tote facility, totaling 20,894 square feet on 3.83 acres. The main building, remodeled in 2015, includes 13,754 square feet of office space and 1,440 square feet of shop space. It features a reception area, an executive office suite with a private shower, 22 private offices, multiple restrooms, and an open office area suitable for cubicles. Two conference rooms are available, including a smaller room and a larger training/conference room. The west side of the building includes a parts office, crew space, men's and women's locker rooms, and an open storage area with one 8-foot garage door. A 5,700-square-foot tote facility is located behind the main building, offering an outdoor work area. The Fairgrounds area includes office complexes, industrial sites, residential neighborhoods, and other commercial businesses. The west and east ends of the building are currently occupied but can be vacated. Approximately 5,000 square feet in the middle of the building is currently vacant and available for lease separately.
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 | $401.2k | $19.20 |
| − Vacancy | −$64.2k | −$3.07 |
| EGI | $337.0k | $16.13 |
| − OpEx | −$84.2k | −$4.03 |
| NOI | $252.7k | $12.10 |
20,894 SF · lease $19.20/SF/yr · vacancy 16.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$3.61M
$3.16M – $4.21M
NOI $252,734 @ 7.0% cap · market cap 6.40%
Second Best
Warehouse
$3.25M
$2.84M – $3.79M
NOI $227,579 @ 7.0% cap · market cap 5.76%
Theoretical Best
Office A
$4.93M
$4.31M – $5.75M
NOI $345,002 @ 7.0% cap · market cap 8.73%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Endura Products Corp
Factory
Andrew Bartlett Group ...
General Contractor
Dayley Landscape Center
Landscaping
Location Insight
- Map
- Local Demand
- City
- Midland
- County
- Midland
- State
- Texas
- Longitude
- -102.0543367
- Latitude
- 32.0195007
Nearby Similar for Sale
FAQs
What type of property is this?
Office building - 20,894 SF office, shop, and tote facility on 3.83 acres.
Where is this office building located?
The property is located at 1501 N Fairgrounds Road Midland, TX.
What is the asking price?
The asking price for this property is $3,950,000.
What are key features of this property?
This property features: 20,894 SF of Executive Office, Shop, and Tote Facility Space on 3.83 Acres; Main building features 13,754 SF of office space and 1,440 SF of shop space, remodeled in 2015; Includes **22 private offices, executive suite with private shower, multiple restrooms, and open office area**
