Multi-Tenant Industrial
For Sale
Contact for pricing
2608 Flynt, Midland, TX 79701
Fully occupied by two tenants under triple net leases, with heavy power and grade-level access.
Property Size23,175 SF
Lot Size2.84 Acres
Price / SF$106.24
Days on Market151
Property Features for 2608 Flynt
General Information
Standard status
Active
Size
23,175 SF
Class
B
Lot size
2.84 Acres
Property subtype
Industrial
Zoning
ETJ -Outside City Limits
Occupancy
100%
Lease Type
NNN
Net Operating Income
$240,000
Warehouse & Industrial
Clear Height
16 ft
Drive-In Doors
8
Three-Phase Power
Yes
Heavy Power
Yes
Building Details
Year Built
2010
Year Renovated
2019
Buildings
5
Units
2
Tenancy
Multi
Building Size
23,175 SF
Construction
metal
Listing Agency:
Marcus & Millichap - Dallas
(972) 755-5200
Listed By:
Adam Abushagur · License #TX 661916
Source:
Crexi
Added: Apr 1
Changed: Aug 29
Last Checked: Aug 29 at 5:20PM
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 Marcus & Millichap - Dallas
Investment Insights
Based on property information with market context.
Built in 2010, this multi-tenant warehouse contains 23,175 square feet on 2.84 acres in Midland, Texas. The metal building offers 16' clear height, eight grade-level doors, and 3-phase heavy power, supporting industrial operations that require functional loading and electrical capacity.
The property is fully occupied by two tenants under triple net leases. Zoning is ETJ -Outside City Limits. Its configuration includes space suitable for storage, manufacturing, or distribution, with a layout designed for practical industrial use.
The property is fully occupied by two tenants under triple net leases. Zoning is ETJ -Outside City Limits. Its configuration includes space suitable for storage, manufacturing, or distribution, with a layout designed for practical industrial use.
Key Highlights
- 23,175 square‑foot industrial building on 2.84 acres
- Fully occupied by two tenants on triple net leases
- 16' clear height and eight grade‑level doors
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
$207,878
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
8.44%
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%
$4,157,560
$4.2M
Cap Rate 7%
$2,969,686
$3.0M
Cap Rate 9%
$2,309,756
$2.3M
Market Conditions
NOI Build-Up for 23,175 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
$314.3K $13.56/SF
− Vacancy
−$17.3K −$0.75/SF
EGI
$297.0K $12.81/SF
− OpEx
−$89.1K −$3.84/SF
NOI
$207.9K $8.97/SF
Area
Midland, TX
Vacancy
5.50%
Lease Rate
$13.56 /SF/Yr
Expense Ratio
30.00%
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%
$4,157,560
Cap Rate 7%
$2,969,686
Cap Rate 9%
$2,309,756
Alternative Uses
Best Use
Warehouse
$3.61M
$3.16M – $4.21M
NOI $252,424 @ 7.0% cap · market cap 10.25%
Second Best
Industrial
$2.97M
$2.60M – $3.46M
NOI $207,878 @ 7.0% cap · market cap 8.44%
Theoretical Best
Office A
$5.47M
$4.78M – $6.38M
NOI $382,666 @ 7.0% cap · market cap 15.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
16 ft
Clear height
8
Drive-in doors
Yes
Heavy power
Location Intelligence
Trade Area within ½ mile
631
Businesses Nearby
Well-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 Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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- Rocky Ford Moving — 3411 W Industrial Ave, Midland, TX 79703
- Affordable Storage: Thomason Drive — 3420 Thomason Dr, Midland, TX 79703
Frequently Asked Questions
What type of property is this?
Warehouse - Fully occupied by two tenants under triple net leases, with heavy power and grade-level access.
Where is this warehouse located?
The property is located at 2608 Flynt Midland, TX.
What is the asking price?
The asking price for this property is $2,462,000.
What are key features of this property?
This property features: 23,175 square‑foot industrial building on 2.84 acres; Fully occupied by two tenants on triple net leases; 16' clear height and eight grade‑level doors
