Flex Space with Gated
For Sale
$450,000
1609 E Taylor, Midland, TX 79701
Flex property with dedicated office space, a gated yard, and access to the Interstate.
Property Size3,200 SF
Price / SF$140.63
Days on Market15
Property Features for 1609 E Taylor
General Information
Standard status
Active
Size
3,200 SF
Site & Location
Highway Access
Yes
Road Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Additional Details
Office Build-Out
400 SF
Building Details
Year Built
1983
Buildings
1
Building Size
3,200 SF
Listing Agency:
The Real Estate Ranch LLC
(432) 599-4496
Listed By:
Brian Savage · License #0584754
Source:
Hauspg
Added: Aug 15
Changed: Aug 21
Last Checked: Aug 29 at 12:24PM
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 The Real Estate Ranch LLC
Investment Insights
Based on property information with market context.
Built in 1983, this flex property includes a 3,200 sq. ft. building with approximately 400 sq. ft. allocated to office use. The site also includes a gated yard, adding secured outdoor space to the building configuration.
Located at 1609 E Taylor in Midland, the property sits directly off Taylor Avenue and Lamesa Road with access to the Interstate. The layout supports warehouse or light industrial operations as described in the property information.
Located at 1609 E Taylor in Midland, the property sits directly off Taylor Avenue and Lamesa Road with access to the Interstate. The layout supports warehouse or light industrial operations as described in the property information.
Key Highlights
- 3,200 sq. ft. building
- Approximately 400 sq. ft. of dedicated office space
- Gated yard
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
$34,855
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
7.75%
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%
$697,100
$697.1K
Cap Rate 7%
$497,929
$497.9K
Cap Rate 9%
$387,278
$387.3K
Market Conditions
NOI Build-Up for 3,200 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
$43.4K $13.56/SF
− Vacancy
−$2.4K −$0.75/SF
EGI
$41.0K $12.81/SF
− OpEx
−$6.2K −$1.92/SF
NOI
$34.9K $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%
$697,100
Cap Rate 7%
$497,929
Cap Rate 9%
$387,278
Alternative Uses
Best Use
Warehouse
$497.9K
$435.7K – $580.9K
NOI $34,855 @ 7.0% cap · market cap 7.75%
Second Best
Industrial
$410.1K
$358.8K – $478.4K
NOI $28,704 @ 7.0% cap · market cap 6.38%
Theoretical Best
Office A
$754.8K
$660.5K – $880.6K
NOI $52,838 @ 7.0% cap · market cap 11.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
253
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 79701, TX
29,748
Population
11,393
Households
2.6
Avg Household Size
33
Median Age
19%
College-Educated
73%
High-School Grad
12.1 sq mi
ZIP Area
2,459
Density / Sq Mi
$57,679
Median Household Income
$36,213
Median Earnings
$1,336
Median Rent
$204,000
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Flex property with dedicated office space, a gated yard, and access to the Interstate.
Where is this flex space located?
The property is located at 1609 E Taylor Midland, TX.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 3,200 sq. ft. building; Approximately 400 sq. ft. of dedicated office space; Gated yard
