Flex Space with Gated
For Sale
$375,000
1609 E Taylor, Midland, TX 79701
Commercial Sale, Midland, TX
Property Size3,200 SF
Lot Size0.39 Acres
Price / SF$117.19
Days on Market190
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: Sep 25
Last Checked: Oct 16 at 11:06PM
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.
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Investment Insights
Based on property information with market context.
This flex-space property includes a 3,200-square-foot building with approximately 400 square feet of dedicated office space. A gated yard adds secured outdoor functionality to the site, which encompasses 0.386 acres. Built in 1983, the property is configured for warehouse or light industrial use.
The building is positioned directly off Taylor Avenue and Lamesa Road in Midland, with access to the Interstate. Its combination of enclosed space, office area, and gated yard provides a practical setup for industrial operations requiring both building and exterior work or storage areas.
The building is positioned directly off Taylor Avenue and Lamesa Road in Midland, with access to the Interstate. Its combination of enclosed space, office area, and gated yard provides a practical setup for industrial operations requiring both building and exterior work or storage areas.
Key Highlights
- 3,200 sq. ft. building on 0.386 acres
- Approximately 400 sq. ft. of dedicated office space
- Gated yard
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,704
Cap Rate
7.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$574,080
$574.1K
Cap Rate 7%
$410,057
$410.1K
Cap Rate 9%
$318,933
$318.9K
Market Conditions
NOI Build-Up for 3,200 SF
Gross rent
$43.4K $13.56/SF
− Vacancy
−$2.4K −$0.75/SF
EGI
$41.0K $12.81/SF
− OpEx
−$12.3K −$3.84/SF
NOI
$28.7K $8.97/SF
Area
Midland, TX
Vacancy
5.50%
Lease Rate
$13.56 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$574,080
Cap Rate 7%
$410,057
Cap Rate 9%
$318,933
Alternative Uses
Best Use
Warehouse
$497.9K
$435.7K – $580.9K
NOI $34,855 @ 7.0% cap · market cap 9.29%
Second Best
Industrial
$410.1K
$358.8K – $478.4K
NOI $28,704 @ 7.0% cap · market cap 7.65%
Theoretical Best
Office A
$754.8K
$660.5K – $880.6K
NOI $52,838 @ 7.0% cap · market cap 14.09%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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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
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
Similar Off Market Nearby
- Carter & Burgess Inc — 505 N Big Spring St, Midland, TX 79701
Frequently Asked Questions
What type of property is this?
Flex space - Gated yard and dedicated office area complement warehouse or light industrial use.
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 $375,000.
What are key features of this property?
This property features: 3,200 sq. ft. building on 0.386 acres; Approximately 400 sq. ft. of dedicated office space; Gated yard
