Flex Space With Drive-Through
For Sale
$1,300,000
3344 County Rd, Midland, TX 79705
Commercial Sale, Midland, TX
Property Size6,250 SF
Lot Size7.00 Acres
Price / SF$208
Days on Market164
Property Features for 3344 County Rd
General Information
Property type
Commercial Sale
Property subtype
Other
Property condition
Under Construction
Subdivision
Jaz Acres
Standard status
Active
Size
6,250 SF
Lot size
7.00 Acres
Taxes and HOA fees
Tax Description
Acres: 7, LOT: 4, BLK: 4, SEC: 4, BLK: 38-1-S, ADDN: JAZ ESTATES
Legal Description
Acres: 7, LOT: 4, BLK: 4, SEC: 4, BLK: 38-1-S, ADDN: JAZ ESTATES
Building Details
Year built
2025
Listing Agency:
The Platinum Group RE, LLC
(817) 341-6156
Listed By:
Emily Merritt
(806) 336-8059
Added: Mar 19
Changed: Aug 27
Last Checked: Aug 29 at 7:06PM
MLS# 50093668
Copyright © 2026 Permian Basin 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.
Investment Insights
Based on property information with market context.
This 6,250-square-foot flex facility is under construction on 7 acres in Midland, Texas. The metal building is designed with two drive-through shop bays fitted with 14-foot doors, along with a covered third bay at the rear. The yard is fully caliche-padded, providing outdoor operating and storage space.
The 1,250-square-foot office area includes three private offices, a reception or meeting area, a kitchenette, three restrooms, and a tool room. Burnt wood paneling is specified throughout the office component. The property is identified as a 2025 construction project and is located at 3344 County Rd in Midland, Martin County, Texas.
The 1,250-square-foot office area includes three private offices, a reception or meeting area, a kitchenette, three restrooms, and a tool room. Burnt wood paneling is specified throughout the office component. The property is identified as a 2025 construction project and is located at 3344 County Rd in Midland, Martin County, Texas.
Key Highlights
- 7‑acre property with a fully caliche‑padded yard
- 6,250‑square‑foot metal flex building under construction
- Two drive‑through shop bays with 14‑foot 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
$68,075
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
5.24%
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%
$1,361,500
$1.4M
Cap Rate 7%
$972,500
$972.5K
Cap Rate 9%
$756,389
$756.4K
Market Conditions
NOI Build-Up for 6,250 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
$84.8K $13.56/SF
− Vacancy
−$4.7K −$0.75/SF
EGI
$80.1K $12.81/SF
− OpEx
−$12.0K −$1.92/SF
NOI
$68.1K $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 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%
$1,361,500
Cap Rate 7%
$972,500
Cap Rate 9%
$756,389
Alternative Uses
Best Use
Warehouse
$972.5K
$850.9K – $1.13M
NOI $68,075 @ 7.0% cap · market cap 5.24%
Second Best
Industrial
$800.9K
$700.8K – $934.4K
NOI $56,062 @ 7.0% cap · market cap 4.31%
Theoretical Best
Office A
$1.47M
$1.29M – $1.72M
NOI $103,200 @ 7.0% cap · market cap 7.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Drive-in doors
Location Intelligence
Trade Area within ½ mile
35
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 79705, TX
44,138
Population
20,021
Households
2.2
Avg Household Size
33
Median Age
40%
College-Educated
91%
High-School Grad
79.4 sq mi
ZIP Area
556
Density / Sq Mi
$105,106
Median Household Income
$60,415
Median Earnings
$1,431
Median Rent
$329,300
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?
Flex space - Under-construction commercial facility combines office space with a caliche-padded yard.
Where is this flex space located?
The property is located at 3344 County Rd Midland, TX.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: 7‑acre property with a fully caliche‑padded yard; 6,250‑square‑foot metal flex building under construction; Two drive‑through shop bays with 14‑foot doors
