Warehouse with Gated
For Sale
$450,000
1609 E Taylor, Midland, TX 79701
COMMERCIAL - Midland, TX
Property Size3,200 SF
Lot Size0.39 Acres
Price / SF$140.63
Days on Market144
Property Features for 1609 E Taylor
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
Carol Crest
Standard status
Active
Size
3,200 SF
Lot size
0.39 Acres
Taxes and HOA fees
Tax Description
Legal: Acres: 0.386, BLK: 017, LOT: 030 W.58 & ALL OF, ADDN: CAROL CREST, (UNRECORDED), LOT 31, SEC 1 BLK 39-T2S
Tax Annual Amount
1192
Legal Description
Legal: Acres: 0.386, BLK: 017, LOT: 030 W.58 & ALL OF, ADDN: CAROL CREST, (UNRECORDED), LOT 31, SEC 1 BLK 39-T2S
Building Details
Year built
1983
Listing Agency:
The Real Estate Ranch LLC
(432) 688-8200
Listed By:
Brian Savage · License #0584754
(432) 599-4496
Added: Apr 10
Changed: Aug 4
Last Checked: Aug 31 at 7:06PM
MLS# 50094211
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 property includes a 3,200 sq. ft. building with approximately 400 sq. ft. of dedicated office space. The site also features a gated yard, providing an enclosed outdoor area for day-to-day operations.
Located directly off Taylor Avenue and Lamesa road, the property offers straightforward access to the Interstate for logistics and commuting needs.
The overall configuration and existing improvements make this a practical fit for warehouse or light industrial use.
Located directly off Taylor Avenue and Lamesa road, the property offers straightforward access to the Interstate for logistics and commuting needs.
The overall configuration and existing improvements make this a practical fit for warehouse or light industrial use.
Key Highlights
- 3,200 sq. ft. building suitable for warehouse or light industrial use.
- Strategic location directly off Taylor Avenue and Lamesa Road with excellent Interstate accessibility.
- 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
$38,707
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
8.60%
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%
$774,140
$774.1K
Cap Rate 7%
$552,957
$553.0K
Cap Rate 9%
$430,078
$430.1K
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
$61.4K $19.20/SF
− Vacancy
−$9.8K −$3.07/SF
EGI
$51.6K $16.13/SF
− OpEx
−$12.9K −$4.03/SF
NOI
$38.7K $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 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%
$774,140
Cap Rate 7%
$552,957
Cap Rate 9%
$430,078
Alternative Uses
Best Use
Office B
$553.0K
$483.8K – $645.1K
NOI $38,707 @ 7.0% cap · market cap 8.60%
Second Best
Warehouse
$497.9K
$435.7K – $580.9K
NOI $34,855 @ 7.0% cap · market cap 7.75%
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
2,226
Businesses Nearby
Well-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 Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Warehouse - Includes a 400 sq. ft. office and a gated yard within a 3,200 sq. ft. warehouse building.
Where is this warehouse 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 suitable for warehouse or light industrial use.; Strategic location directly off Taylor Avenue and Lamesa Road with excellent Interstate accessibility.; Gated yard.
