Fenced Truck Terminal With
For Sale
$2,000,000
2209 County Rd 123, Midland, TX 79706
COMMERCIAL - Midland, TX
Property Size9,000 SF
Lot Size4.90 Acres
Price / SF$222.22
Days on Market337
Property Features for 2209 County Rd 123
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
38-T2S
Standard status
Active
Size
9,000 SF
Lot size
4.90 Acres
Taxes and HOA fees
Tax Description
4.90 ACRES OUT OF N/PT, SEC 14, BLK. 38 T2S
Tax Annual Amount
13308
Legal Description
4.90 ACRES OUT OF N/PT, SEC 14, BLK. 38 T2S
Amenities
fueling station
dedicated mechanic shop
Building Details
Year built
2016
Listing Agency:
Drennan Real Estate Group
(325) 716-5869
Listed By:
Alan Drennan
(325) 315-1515
Added: Sep 10, 2025
Changed: Aug 4
Last Checked: Aug 12 at 7:06AM
MLS# 50085224
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 truck terminal property combines a 9,000-square-foot warehouse with two oversized bays and a separate mechanic shop. The improvements support commercial trucking, heavy equipment, and service-oriented operations, with a fueling station incorporated into the site. Built in 2016, the facility offers a defined operating environment for businesses requiring substantial outdoor storage and vehicle or equipment servicing.
The property encompasses 4.9 acres and is fully fenced. It is located at 2209 County Rd 123 in Midland, Texas, within Midland County and ZIP code 79706. The combination of warehouse space, service infrastructure, fueling capability, and secured acreage provides a practical configuration for an industrial transportation or equipment-focused use.
The property encompasses 4.9 acres and is fully fenced. It is located at 2209 County Rd 123 in Midland, Texas, within Midland County and ZIP code 79706. The combination of warehouse space, service infrastructure, fueling capability, and secured acreage provides a practical configuration for an industrial transportation or equipment-focused use.
Key Highlights
- 4.9‑acre fully fenced industrial site
- 9,000‑square‑foot warehouse completed in 2016
- Two oversized warehouse bays
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
$98,456
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
4.92%
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%
$1,969,120
$2.0M
Cap Rate 7%
$1,406,514
$1.4M
Cap Rate 9%
$1,093,956
$1.1M
Market Conditions
NOI Build-Up for 9,000 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
$140.4K $15.60/SF
− Vacancy
−$9.1K −$1.01/SF
EGI
$131.3K $14.59/SF
− OpEx
−$32.8K −$3.65/SF
NOI
$98.5K $10.94/SF
Area
Midland, TX
Vacancy
6.50%
Lease Rate
$15.60 /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%
$1,969,120
Cap Rate 7%
$1,406,514
Cap Rate 9%
$1,093,956
Alternative Uses
Best Use
Specialty Retail
$1.41M
$1.23M – $1.64M
NOI $98,456 @ 7.0% cap · market cap 4.92%
Second Best
Warehouse
$1.40M
$1.23M – $1.63M
NOI $98,029 @ 7.0% cap · market cap 4.90%
Theoretical Best
Office A
$2.12M
$1.86M – $2.48M
NOI $148,608 @ 7.0% cap · market cap 7.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
63
Businesses Nearby
Explore this area
Business Placement
Demographics for 79706, TX
31,805
Population
12,368
Households
2.6
Avg Household Size
32
Median Age
23%
College-Educated
87%
High-School Grad
689.5 sq mi
ZIP Area
46
Density / Sq Mi
$110,988
Median Household Income
$58,023
Median Earnings
$897
Median Rent
$280,500
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Truck terminal - Fenced industrial site includes a fueling station, oversized service bays, and a dedicated mechanic shop.
Where is this truck terminal located?
The property is located at 2209 County Rd 123 Midland, TX.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: 4.9‑acre fully fenced industrial site; 9,000‑square‑foot warehouse completed in 2016; Two oversized warehouse bays
