Live-Work Property with
For Sale
$1,300,000
200 E FM 1379, Midland, TX 79701
Commercial Sale, Midland, TX
Property Size3,170 SF
Lot Size32.56 Acres
Price / SF$410.09
Days on Market18
Property Features for 200 E FM 1379
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
Mitchell Acres
Standard status
Active
Size
3,170 SF
Lot size
32.56 Acres
Taxes and HOA fees
Tax Description
ACRES 32.558, BLOCK 2, LOT 12,13,14,15,16,17, AND 26 SUBDIVISION MITCHELL ACRES
Tax Annual Amount
5665
Legal Description
ACRES 32.558, BLOCK 2, LOT 12,13,14,15,16,17, AND 26 SUBDIVISION MITCHELL ACRES
Building Details
Year built
1999
Listing Agency:
Tracy Farrow Realty, LLC
(432) 218-8844
Listed By:
Tracy Farrow · License #0614851
(432) 413-4412
Added: Sep 24
Changed: Oct 5
Last Checked: Oct 11 at 2:06AM
MLS# 50098493
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 3,170-square-foot live-work property combines a five-bedroom, three-bath residence with insulated workshops and insulated storage. Built in 1999, the home includes an open living area, a sequestered primary suite, and substantial interior storage. Covered parking and animal pens with water service are also on site.
The property encompasses 32.558 acres at 200 E FM 1379 in Midland, Texas. Outdoor improvements include a back patio with a fireplace and outdoor kitchen.
The property encompasses 32.558 acres at 200 E FM 1379 in Midland, Texas. Outdoor improvements include a back patio with a fireplace and outdoor kitchen.
Key Highlights
- 32.558 acres in Midland, Texas
- 3,170‑square‑foot residence with 5 bedrooms and 3 bathrooms
- Insulated workshops and insulated storage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,344
Cap Rate
2.95%
Suggested Prices Based on Cap Rates
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
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 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
2,226
Businesses Nearby
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 Office in South region
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Frequently Asked Questions
What type of property is this?
Live-work space - Acreage, covered parking, animal pens, and dedicated work areas complement the five-bedroom residence.
Where is this live-work space located?
The property is located at 200 E FM 1379 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: 32.558 acres in Midland, Texas; 3,170‑square‑foot residence with 5 bedrooms and 3 bathrooms; Insulated workshops and insulated storage
