Flex Property With Pipe
For Sale
Contact for pricing
2310 S Midkiff Rd, Midland, TX 79701
Industrial-oriented property combines office, insulated warehouse, outdoor storage, and covered vehicle areas.
Property Size4,400 SF
Price / SF$409.09
Days on Market10
Property Features for 2310 S Midkiff Rd
General Information
Standard status
Active
Size
4,400 SF
Property subtype
Industrial
Warehouse & Industrial
Warehouse Space
2,000 SF
Office Build-Out
2,400 SF
Additional Details
Outdoor Storage
Yes
Amenities
covered parking
pond
Building Details
Year Built
2008
Buildings
4
Listing Agency:
The Sales Team Realtors
(432) 269-8287
Listed By:
Randall Blanscett · License #TREC #0835029
Source:
Crexi
Added: Jul 31
Changed: Aug 9
Last Checked: Aug 9 at 8:18AM
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 The Sales Team Realtors
Investment Insights
Based on property information with market context.
This flex property occupies a 14+ acre pipe yard with a 6-inch caliche base. The 4,400 sq ft main building, completed in 2008, includes 2,400 sq ft of office space and a 2,000 sq ft insulated warehouse. The warehouse is equipped with two overhead doors, while a front awning provides covered parking.
Additional storage buildings with awnings extend the site’s capacity for equipment and vehicles. An on-site pond is also part of the property. Located at 2310 S Midkiff Rd in Midland, Texas, the property brings together enclosed office and warehouse improvements with substantial outdoor yard area.
Additional storage buildings with awnings extend the site’s capacity for equipment and vehicles. An on-site pond is also part of the property. Located at 2310 S Midkiff Rd in Midland, Texas, the property brings together enclosed office and warehouse improvements with substantial outdoor yard area.
Key Highlights
- 14+ acre pipe yard with 6‑inch caliche base
- 4,400 sq ft main building constructed in 2008
- 2,400 sq ft of office space
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
$53,222
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
2.96%
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%
$1,064,440
$1.1M
Cap Rate 7%
$760,314
$760.3K
Cap Rate 9%
$591,356
$591.4K
Market Conditions
NOI Build-Up for 4,400 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
$84.5K $19.20/SF
− Vacancy
−$13.5K −$3.07/SF
EGI
$71.0K $16.13/SF
− OpEx
−$17.7K −$4.03/SF
NOI
$53.2K $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%
$1,064,440
Cap Rate 7%
$760,314
Cap Rate 9%
$591,356
Alternative Uses
Best Use
Office B
$760.3K
$665.3K – $887.0K
NOI $53,222 @ 7.0% cap · market cap 2.96%
Second Best
Warehouse
$684.6K
$599.1K – $798.8K
NOI $47,925 @ 7.0% cap · market cap 2.66%
Theoretical Best
Office A
$1.04M
$908.2K – $1.21M
NOI $72,653 @ 7.0% cap · market cap 4.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
523
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Industrial-oriented property combines office, insulated warehouse, outdoor storage, and covered vehicle areas.
Where is this flex space located?
The property is located at 2310 S Midkiff Rd Midland, TX.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: 14+ acre pipe yard with 6‑inch caliche base; 4,400 sq ft main building constructed in 2008; 2,400 sq ft of office space
