Live-Work Property with
New
For Sale
$1,300,000
200 E County Rd 300, Midland, TX 79701
The acreage includes insulated work and storage buildings, covered parking, and animal pens supplied with water.
Property Size3,170 SF
Lot Size32.59 Acres
Price / SF$410.09
Days on Market2
Property Features for 200 E County Rd 300
General Information
Standard status
Active
Size
3,170 SF
Lot size
32.59 Acres
Building Details
Year Built
1999
Listing Agency:
Tracy Farrow Realty, LLC
Listed By:
Tracy Farrow · License #0614851
(432) 413-4412
Source:
Billlanier
Added: Sep 26
Last Checked: Sep 26 at 7:42AM
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 Tracy Farrow Realty, LLC
Investment Insights
Based on property information with market context.
A 5-bedroom, 3-bath residence sits on 32.588 acres alongside insulated workshops and storage space. Covered parking and animal pens with water connected directly to them are also part of the property. The home was built in 1999.
Inside, the living area is open, with substantial storage. The primary suite is set apart and includes a large bathroom with a separate tub. A rear patio adds a fireplace and an outdoor kitchen.
Inside, the living area is open, with substantial storage. The primary suite is set apart and includes a large bathroom with a separate tub. A rear patio adds a fireplace and an outdoor kitchen.
Key Highlights
- 32.588 acres with a 5‑bedroom, 3‑bath residence
- Insulated workshops and insulated storage buildings
- Covered parking and animal pens with water connected directly to them
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
$38,344
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
2.95%
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%
$766,880
$766.9K
Cap Rate 7%
$547,771
$547.8K
Cap Rate 9%
$426,044
$426.0K
Market Conditions
NOI Build-Up for 3,170 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
$60.9K $19.20/SF
− Vacancy
−$9.7K −$3.07/SF
EGI
$51.1K $16.13/SF
− OpEx
−$12.8K −$4.03/SF
NOI
$38.3K $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%
$766,880
Cap Rate 7%
$547,771
Cap Rate 9%
$426,044
Alternative Uses
Best Use
Office B
$547.8K
$479.3K – $639.1K
NOI $38,344 @ 7.0% cap · market cap 2.95%
Second Best
Mixed Use
$540.9K
$473.3K – $631.0K
NOI $37,862 @ 7.0% cap · market cap 2.91%
Theoretical Best
Office A
$747.8K
$654.3K – $872.4K
NOI $52,343 @ 7.0% cap · market cap 4.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
3
Businesses Nearby
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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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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Live-work space - The acreage includes insulated work and storage buildings, covered parking, and animal pens supplied with water.
Where is this live-work space located?
The property is located at 200 E County Rd 300 Midland, TX.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: 32.588 acres with a 5‑bedroom, 3‑bath residence; Insulated workshops and insulated storage buildings; Covered parking and animal pens with water connected directly to them
