1501 N Fairgrounds Rd Midland, TX 79706
20,894 SF mixed-use property with office, shop, and tote facility.
- Added:
- Jul 31, 2024
- Days on Market:
- 711
- Last Refresh:
- Jul 5 at 7:04 am
Property Features for 1501 N Fairgrounds Rd
General Information
- Standard status
- Active
- Size
- 20,894 SF
- Lot size
- 3.83 Acres
- Property subtype
- Industrial, Mixed Use, Office
Building Details
- Year Built
- 1978
Listing office NRG Realty Group (432) 363-4777
Listing date Jul 31, 2024
Source Crexi
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
Investment Insights
Based on property information with market context.
Key Highlights
- 20,894 SF of total space including office, shop, and tote facility on 3.83 acres.
- 13,754 SF of remodeled (2015) office space with 22 private offices and open office area.
- Includes executive office suite with private shower.
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 |