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    Industrial Development Land with Utilities Title is generated by Realmo AI

    2927 Canal, Monahans, TX 79756

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    Claim this Listing
    For Sale
    $350,000

    LAND - Monahans, TX

    Lot size:
    8.97 Acres
    Added:
    Apr 23, 2026
    Days on Market:
    42
    Last Refresh:
    Jun 3 at 11:06 pm

    Property Features for 2927 Canal

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    709918
    Lot size
    8.97 Acres

    Taxes and HOA fees

    Tax Annual Amount
    0

    Utilities

    Sewer type
    Septic Tank
    Water source
    Well

    We can help!

    Listing Contact
    Heather Prichard
    Heather Prichard

    Listing agent Heather Prichard License #0486680

    Listing office The Prichard Group PO BOX 12785, Odessa, TX

    Listing date Apr 23, 2026

    MLS# 174127 Listing URL

    Copyright © 2026 Odessa 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.

    HighLights

    • 8.97‑acre commercial land parcel in the Steeple O Commercial Park in Monahans, TX
    • Utilities in place: water well, electricity on site, and septic tank
    • Fully fenced with a pipe fence and three gated entrances
    • Access includes entrances off Main St and Canal St
    • Packed caliche base on the property
    • Convenient access to I‑20 and directly off Hwy 18

    Overview

    This offering is an industrial development land parcel totaling 8.97 acres. The property is fully fenced with a pipe fence and includes three gated entrances. The site is described as having a packed caliche base and is equipped with septic and a water well, with electricity in place, supporting readiness for immediate use.

    The land is located in Steeple “O” Commercial Park in Monahans, Texas, in Ward County. Access is provided off Main St and Canal St, and the property is positioned for convenient connectivity to I-20. The remarks also note direct access to Hwy 18 within West Texas’s oil and gas region, which can be relevant to industrial-focused users.

    Given the stated site improvements and utilities, this parcel may be a strong fit for businesses seeking an industrial or commercial location that does not require initial groundwork for basic infrastructure. The fully fenced configuration and multiple gated entrances can also support practical site operations and controlled access for vehicles and personnel, subject to final approval of use and development plans.
    Property Profile Location Intelligence

    Current Use by Public Records

    Industrial land

    Map

    City
    Monahans
    County
    Ward
    State
    Texas
    Longitude
    -102.8872602
    Latitude
    31.5638556

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    FAQs

    What type of property is this?
    Industrial land - Fully equipped, fenced industrial land with utilities and gated access for immediate commercial or industrial use.
    Where is this industrial land located?
    The property is located at 2927 Canal Monahans, TX.
    What is the asking price?
    The asking price for this property is $350,000.
    What are key features of this property?
    This property features: 8.97‑acre commercial land parcel in the Steeple O Commercial Park in Monahans, TX; Utilities in place: water well, electricity on site, and septic tank; Fully fenced with a pipe fence and three gated entrances
    (432) 978-6973
    We can help!
    Listing Contact
    Heather Prichard
    Heather Prichard
    Real Estate License ID: 0486680
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    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.

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