Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2708 S County Road 1242 Midland, TX 79706

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    10,500 SF industrial building with office space for lease.

    Property Features for 2708 S County Road 1242

    General Information

    Standard status
    Active

    Building Details

    Year built
    2008

    We can help!

    Listing Contact
    Justin Dodd
    Justin Dodd
    Source: Crexi

    Listing Agency: NRG Realty Group - Dallas/Fort Worth Listing Agent: Justin Dodd

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Industrial Building with Crane

    Available for lease is a 10,500 square foot industrial building situated on 2 acres. The property includes 2,000 square feet of office space, featuring 7 large offices, 5 closets, a break room, a men’s restroom, and a women’s restroom. Within the 8,500 square foot warehouse area, there is a men’s locker room with a shower and a training/break area with an IT closet. The warehouse is equipped with 2 drive-through bays, a 5-ton crane, plumbing for water and air, and LED lighting. A covered area at the back of the shop is configured as a test bay with a drain system, which can also serve as a wash bay. The yard is fully fenced and features security lighting and two 20-foot rolling gates. The property is serviced by city sewer and a water well.
    Location Intelligence

    Current Use by Public Records

    Expro Americas LLC Oilfield

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Building Supply Auto Repair Shop Big Box & Wholesale Store Department Store Hotel & Motel HVAC Service Auto Parts Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Midland
    County
    Midland
    State
    Texas
    Longitude
    -102.043
    Latitude
    32.0192

    Nearby Similar for Lease

    • Contact for pricing
      2,400 SF

      Midland Flex Space with Warehouse

      2400 SF flex space with warehouse and office potential.
      10910 State Highway 191, Midland, TX 79707
      View Details
    • Contact for pricing
      2,400 SF

      Executive Offices with Storage/Warehouse

      Class A executive offices with storage/warehouse available for rent.
      10910 State Highway 191, Midland, TX 79707
      View Details
    • $24,000
      20,000 SF

      Midland Flex Space with Cranes

      20,000 SF commercial space with overhead cranes for lease.
      2106 Fm 1788, Midland, TX 79707
      View Details
    • $6,225 /Mo
      5,000 SF

      Midland Office Space For Lease

      Highly visible office space available for lease in Midland, TX.
      3900 State Highway 158 E, Midland, TX 79706
      View Details
    • Contact for pricing
      2,400 SF

      Midland Flex Space with Warehouse

      Class A executive suites/warehouse with highway frontage access.
      10910 State Highway 191, Midland, TX 79707
      View Details
    • Contact for pricing
      2,400 SF

      Midland Flex Space For Rent

      Class A executive suites/warehouse with frontage access and paved parking.
      10910 State Highway 191, Midland, TX 79707
      View Details
    • $2,500 /Mo
      1,770 SF

      Retail Space on Wall Street

      1,770 SF retail space with high visibility in Midland.
      2816 W Wall St, Midland, TX 79701
      View Details
    • Contact for pricing
      2,400 SF

      Midland Flex Space with Frontage

      Flex space with frontage and build-out potential in Midland, TX.
      10910 State Highway 191, Midland, TX 79707
      View Details
    • New
      Contact for pricing

      Midland Industrial Office/Warehouse with Wash-Bay

      Industrial property with shop, office space, wash-bay, and large yard.
      10200 W County Road 160, Midland, TX 79706
      View Details
    • Contact for pricing

      Industrial Shop and Office Facility

      7,889 SF industrial shop and office on 5 acres.
      12828 W County Road 91, Midland, TX 79707
      View Details
    • Contact for pricing

      Industrial Property with Shop Space

      2.66-acre industrial property featuring office and shop space.
      10400 W County Road 72, Midland, TX 79707
      View Details
    • Contact for pricing

      Industrial Facility with Drive-Thru Bays

      11,250 SF industrial facility with office and warehouse space.
      2804 S County Road 1242, Midland, TX 79706
      View Details

    FAQs

    What type of property is this?
    Flex space - 10,500 SF industrial building with office space for lease.
    Where is this flex space located?
    The property is located at 2708 S County Road 1242 Midland, TX.
    What are key features of this property?
    This property features: - 10,500 SF industrial building on 2 Acres; - **8,500 SF warehouse with 2 drive-through bays**; - (1) 5-ton crane
    (432) 363-4777
    Request Owner's contact information
    2708 S County Road 1242 Midland, TX 79706
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2708 S County Road 1242
    Midland, TX 79706
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2708 S County Road 1242 Midland, TX 79706
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Justin Dodd
    Justin Dodd
    Real Estate License ID: 9004023
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!