Highway-Frontage Flex
For Sale
Contact for pricing
3602 Hwy 158, Midland, TX 79706
A 1979-built facility combines office and shop improvements with an outdoor yard on an established oilfield corridor.
Property Size3,200 SF
Lot Size1.08 Acres
Price / SF$1.81
Days on Market28
Property Features for 3602 Hwy 158
General Information
Standard status
Active
Size
3,200 SF
Lot size
1.08 Acres
Property subtype
Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Property Use
Office/Shop
Building Details
Building Size
3,200 SF
Year Built
1979
Listing Agency:
The Real Estate Ranch LLC
Listed By:
Thomas Johnston · License #542176
(432) 688-8200
Source:
Gloriarealestate
Added: Oct 1
Changed: Oct 25
Last Checked: Oct 26 at 4:03AM
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 The Real Estate Ranch LLC
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Investment Insights
Based on property information with market context.
This flex property contains 3,200 square feet of improvements configured for office and shop use, with yard space on approximately 1.08 acres. Built in 1979, the facility is offered under an NNN lease.
The property fronts E State Highway 158 in Midland, with approximately 180 feet along the highway. Its location is within an established oilfield corridor.
The property fronts E State Highway 158 in Midland, with approximately 180 feet along the highway. Its location is within an established oilfield corridor.
Key Highlights
- 3,200 SF of office and shop improvements
- Approximately 1.08 acres with yard space
- Approximately 180 feet of frontage on E State Highway 158
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,155
Suggested Prices Based on Cap Rates
Cap Rate 5%
$563,100
$563.1K
Cap Rate 7%
$402,214
$402.2K
Cap Rate 9%
$312,833
$312.8K
Market Conditions
NOI Build-Up for 3,200 SF
Gross rent
$46.1K $14.40/SF
− Vacancy
−$2.8K −$0.86/SF
EGI
$43.3K $13.54/SF
− OpEx
−$15.2K −$4.74/SF
NOI
$28.2K $8.80/SF
Area
Midland, TX
Vacancy
6.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$563,100
Cap Rate 7%
$402,214
Cap Rate 9%
$312,833
Alternative Uses
Best Use
Industrial
$410.1K
$358.8K – $478.4K
NOI $28,704 @ 7.0% cap · market cap 494.90%
Second Best
Flex RnD
$402.2K
$351.9K – $469.3K
NOI $28,155 @ 7.0% cap · market cap 485.43%
Theoretical Best
Office A
$754.8K
$660.5K – $880.6K
NOI $52,838 @ 7.0% cap · market cap 911.00%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
46
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Flex space - A 1979-built facility combines office and shop improvements with an outdoor yard on an established oilfield corridor.
Where is this flex space located?
The property is located at 3602 Hwy 158 Midland, TX.
What are key features of this property?
This property features: 3,200 SF of office and shop improvements; Approximately 1.08 acres with yard space; Approximately 180 feet of frontage on E State Highway 158
