New Manufacturing Facility with Drive-Through
New
For Sale
Contact for pricing
3015 West CR-135, Midland, TX 79706
Newly built industrial facility fully leased under an NNN structure through February 2031.
Property Size8,750 SF
Lot Size3.07 Acres
Price / SF$200
Days on Market7
Property Features for 3015 West CR-135
General Information
Standard status
Active
Size
8,750 SF
Lot size
3.07 Acres
Property subtype
Industrial
Occupancy
100%
Net Operating Income
$157,500
Financials
Asking Price
$1,750,000
Cap Rate
9%
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Utilities to Site
Yes
Warehouse & Industrial
Clear Height
22 ft
Warehouse Space
6,500 SF
Office Build-Out
1,500 SF
Drive-In Doors
1
Three-Phase Power
Yes
Building Details
Year Built
2025
Listing Agency:
NRG Realty Group
Listed By:
Justin Dodd · License #9004023
(432) 363-4777
Source:
Crexi
Added: Sep 8
Changed: Sep 11
Last Checked: Sep 14 at 5:14AM
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 NRG Realty Group
Investment Insights
Based on property information with market context.
Completed in 2025, this 8,750 SF manufacturing facility occupies 3.07 acres at 3015 West CR-135 in Midland, Texas. The improvements include 1,500 SF of office space with four private offices, reception, conference and break rooms, two restrooms, and a shower. The 6,500 SF shop features a 22-foot ceiling, crane-ready structural support for up to a 5-ton crane, seven 14-foot by 16-foot overhead doors, three drive-through bays, and an additional drive-in bay connected to the covered wash-bay. The 1,250 SF wash-bay drains to two 1,500-gallon underground poly tanks.
The property is fully fenced and secured by two 20-foot rolling gates. Site infrastructure includes 3-phase electrical service, a private water well, and an on-site septic system. Access is provided by a private road recently improved with asphalt millings, and the facility is positioned just south of I-20. NovAmaxa Services LLC occupies the property under an NNN lease that began March 1, 2026, runs through February 28, 2031, and includes a 9.00% cap rate based on current annual NOI.
The property is fully fenced and secured by two 20-foot rolling gates. Site infrastructure includes 3-phase electrical service, a private water well, and an on-site septic system. Access is provided by a private road recently improved with asphalt millings, and the facility is positioned just south of I-20. NovAmaxa Services LLC occupies the property under an NNN lease that began March 1, 2026, runs through February 28, 2031, and includes a 9.00% cap rate based on current annual NOI.
Key Highlights
- 8,750 SF manufacturing facility on 3.07 acres, completed in 2025
- 100% leased to NovAmaxa Services LLC under an NNN lease through February 28, 2031
- 6,500 SF shop with 22‑foot ceiling and structural support for up to a 5‑ton crane
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
$78,487
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
4.48%
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%
$1,569,740
$1.6M
Cap Rate 7%
$1,121,243
$1.1M
Cap Rate 9%
$872,078
$872.1K
Market Conditions
NOI Build-Up for 8,750 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
$118.7K $13.56/SF
− Vacancy
−$6.5K −$0.75/SF
EGI
$112.1K $12.81/SF
− OpEx
−$33.6K −$3.84/SF
NOI
$78.5K $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%
$1,569,740
Cap Rate 7%
$1,121,243
Cap Rate 9%
$872,078
Alternative Uses
Best Use
Industrial
$1.12M
$981.1K – $1.31M
NOI $78,487 @ 7.0% cap · market cap 4.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.06M
$1.81M – $2.41M
NOI $144,480 @ 7.0% cap · market cap 8.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
22 ft
Clear height
1
Drive-in doors
100%
Occupancy
Yes
Fenced yard
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
42
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Manufacturing property - Newly built industrial facility fully leased under an NNN structure through February 2031.
Where is this manufacturing property located?
The property is located at 3015 West CR-135 Midland, TX.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: 8,750 SF manufacturing facility on 3.07 acres, completed in 2025; 100% leased to NovAmaxa Services LLC under an NNN lease through February 28, 2031; 6,500 SF shop with 22‑foot ceiling and structural support for up to a 5‑ton crane
