Fenced Flex
3203 W County Rd 113, Midland, TX 79706
For Sale
$875,000
Five overhead doors serve a shop with a separate office and rear concrete work area.
Property Size2,625 SF
Price / SF$333.33
Days on Market9
Property Features for 3203 W County Rd 113
General Information
Standard status
Size
Property subtype
Site & Location
Highway Access
Fenced Yard
Warehouse & Industrial
Office Build-Out
Drive-In Doors
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Buildings
Listing Agency:
Century 21 The Edge - Midland
Listed By:
Tuesday Jacobs · License TX #0811218
(432) 256-0698
Source:
Tracyfarrowrealty
Added: Nov 1
Changed: Nov 7
Last Checked: Nov 9 at 4:32PM
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 Century 21 The Edge - Midland
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Investment Insights
Based on property information with market context.
This flex property includes a 24' x 112' shop with five overhead bay doors, a 16' x 20' office, and a 10' x 20' concrete work area behind the building. Fencing surrounds the site, which has a gated entrance. The structure was built in 1996.
The property is just off I-20 and Midkiff in Midland, Texas. Its shop, office, and exterior work area provide a mix of enclosed and outdoor space.
The property is just off I-20 and Midkiff in Midland, Texas. Its shop, office, and exterior work area provide a mix of enclosed and outdoor space.
Key Highlights
- Shop measures 24' x 112' and has five overhead bay doors
- Separate 16' x 20' office
- Rear concrete work area measures 10' x 20'
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,592
Cap Rate
3.27%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$571,840
$571.8K
Cap Rate 7%
$408,457
$408.5K
Cap Rate 9%
$317,689
$317.7K
Market Conditions
NOI Build-Up for 2,625 SF
Gross rent
$35.6K $13.56/SF
− Vacancy
−$2.0K −$0.75/SF
EGI
$33.6K $12.81/SF
− OpEx
−$5.0K −$1.92/SF
NOI
$28.6K $10.89/SF
Area
Midland, TX
Vacancy
5.50%
Lease Rate
$13.56 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$571,840
Cap Rate 7%
$408,457
Cap Rate 9%
$317,689
Alternative Uses
Best Use
Warehouse
$408.5K
$357.4K – $476.5K
NOI $28,592 @ 7.0% cap · market cap 3.27%
Second Best
Industrial
$336.4K
$294.3K – $392.4K
NOI $23,546 @ 7.0% cap · market cap 2.69%
Theoretical Best
Office A
$619.2K
$541.8K – $722.4K
NOI $43,344 @ 7.0% cap · market cap 4.95%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
5
Drive-in doors
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
113
Businesses Nearby
Well-served
Demand for This Use
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
$280,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Flex space in Midland, TX
Properties on Market for Flex space in Midland
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Flex space - Five overhead doors serve a shop with a separate office and rear concrete work area.
Where is this flex space located?
The property is located at 3203 W County Rd 113 Midland, TX.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Shop measures 24' x 112' and has five overhead bay doors; Separate 16' x 20' office; Rear concrete work area measures 10' x 20'
