Fenced Truck Terminal with
For Sale
$2,000,000
2209 County Rd 123, Midland, TX 79706
Includes fueling station and 9,000 SF warehouse with two oversized bays and mechanic shop on just under five fenced acres.
Property Size9,000 SF
Price / SF$222.22
Days on Market49
Property Features for 2209 County Rd 123
General Information
Standard status
Active
Size
9,000 SF
Additional Details
Fenced Yard
Yes
Service Bays
2
Amenities
fueling station
Building Details
Year Built
2016
Listing Agency:
Drennan Real Estate Group
Listed By:
Alan Drennan
(325) 315-1515
Source:
Billlanier
Added: Jul 20
Changed: Sep 2
Last Checked: Sep 5 at 10:23AM
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 Drennan Real Estate Group
Investment Insights
Based on property information with market context.
Positioned on just under 5 fully fenced acres, this versatile industrial property is set up for commercial trucking operations, heavy equipment, or service-based businesses. The site includes a fueling station, a spacious warehouse, two oversized bays, and a dedicated mechanic shop to support on-site maintenance and operations.
Located at 2209 County Rd 123, Midland, TX 79706, the property offers a secure, controlled yard environment with the key infrastructure needed for large-scale industrial activity. Please see the extra documents for additional details and a fuller write-up.
Located at 2209 County Rd 123, Midland, TX 79706, the property offers a secure, controlled yard environment with the key infrastructure needed for large-scale industrial activity. Please see the extra documents for additional details and a fuller write-up.
Key Highlights
- Year built: 2016
- Just under 5 fully fenced acres
- 9,000 SF warehouse with two oversized 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
$98,029
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
4.90%
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%
$1,960,580
$2.0M
Cap Rate 7%
$1,400,414
$1.4M
Cap Rate 9%
$1,089,211
$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
$122.0K $13.56/SF
− Vacancy
−$6.7K −$0.75/SF
EGI
$115.3K $12.81/SF
− OpEx
−$17.3K −$1.92/SF
NOI
$98.0K $10.89/SF
Area
Midland, TX
Vacancy
5.50%
Lease Rate
$13.56 /SF/Yr
Expense Ratio
15.00%
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%
$1,960,580
Cap Rate 7%
$1,400,414
Cap Rate 9%
$1,089,211
Alternative Uses
Best Use
Warehouse
$1.40M
$1.23M – $1.63M
NOI $98,029 @ 7.0% cap · market cap 4.90%
Second Best
Industrial
$1.15M
$1.01M – $1.35M
NOI $80,729 @ 7.0% cap · market cap 4.04%
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
2
Service bays
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
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Frequently Asked Questions
What type of property is this?
Truck terminal - Includes fueling station and 9,000 SF warehouse with two oversized bays and mechanic shop on just under five fenced acres.
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: Year built: 2016; Just under 5 fully fenced acres; 9,000 SF warehouse with two oversized bays
