Industrial Flex Complex with
For Sale
$3,200,000
3611 E Hwy 158, Midland, TX 79705
COMMERCIAL - Midland, TX
Property Size28,921 SF
Lot Size4.50 Acres
Price / SF$110.65
Days on Market83
Property Features for 3611 E Hwy 158
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
ME4
Standard status
Active
Size
28,921 SF
Lot size
4.50 Acres
Taxes and HOA fees
Tax Description
Legal: Acres: 3.000, NE/4, SEC: 7, BLK: 38-T2S, Legal: Acres: 1.500, NE/4, SEC: 7, BLK: 38-T2S
Tax Annual Amount
19477
Legal Description
Legal: Acres: 3.000, NE/4, SEC: 7, BLK: 38-T2S, Legal: Acres: 1.500, NE/4, SEC: 7, BLK: 38-T2S
Amenities
conference rms
reception areas
break rms
security fencing
Building Details
Year built
2003
Listing Agency:
The Real Estate Ranch LLC
(432) 688-8200
Listed By:
Morgan Luce · License #0542176
(432) 270-5300
Added: Jun 8
Changed: Aug 4
Last Checked: Aug 29 at 11:06PM
MLS# 50095785
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.
A multi-building industrial flex complex totaling approximately 28,000 SF on 4.5 acres, offering a mix of shops and office space. The property includes conference rooms, reception and break areas, storage, and multiple 12'-16' roll-up doors. Operational support features include 3-phase power, air lines, security fencing, abundant 110V outlets and 30-amp plugs, plus water well service with a 1,500-gallon storage tank. The facility also has 6+ bathrooms and crane capacity with (2) 5-ton cranes and an additional crane beam.
The site is fronting Hwy 158 in Midland, TX and is described as having room for equipment, fleet parking, and expansion.
Additional on-site improvements noted include multiple shops and outdoor work capacity, making the configuration suited for a range of industrial and fabrication/service and logistics-style operations within the existing facility layout.
The site is fronting Hwy 158 in Midland, TX and is described as having room for equipment, fleet parking, and expansion.
Additional on-site improvements noted include multiple shops and outdoor work capacity, making the configuration suited for a range of industrial and fabrication/service and logistics-style operations within the existing facility layout.
Key Highlights
- Approx. 28,000 SF multi‑building industrial complex on 4.5 AC fronting Hwy 158 in Midland (year built 2003)
- Multiple shops with office space including conference rooms, reception, break rooms, storage, and 6+ baths
- 3‑phase power plus air lines, and extensive electrical capacity with abundant 110V outlets and 30‑amp plugs
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
$259,420
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
8.11%
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%
$5,188,400
$5.2M
Cap Rate 7%
$3,706,000
$3.7M
Cap Rate 9%
$2,882,444
$2.9M
Market Conditions
NOI Build-Up for 28,921 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
$392.2K $13.56/SF
− Vacancy
−$21.6K −$0.75/SF
EGI
$370.6K $12.81/SF
− OpEx
−$111.2K −$3.84/SF
NOI
$259.4K $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%
$5,188,400
Cap Rate 7%
$3,706,000
Cap Rate 9%
$2,882,444
Alternative Uses
Best Use
Industrial
$3.71M
$3.24M – $4.32M
NOI $259,420 @ 7.0% cap · market cap 8.11%
Second Best
Flex RnD
$3.64M
$3.18M – $4.24M
NOI $254,459 @ 7.0% cap · market cap 7.95%
Theoretical Best
Office A
$6.82M
$5.97M – $7.96M
NOI $477,544 @ 7.0% cap · market cap 14.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
85
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
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Similar Off Market Nearby
- Moe's Southwest Grill — 3302 Garden City Hwy, Midland, TX 79706
Frequently Asked Questions
What type of property is this?
Flex space - Multi-building industrial complex with multiple shops, offices, and roll-up doors, supported by 3-phase power.
Where is this flex space located?
The property is located at 3611 E Hwy 158 Midland, TX.
What is the asking price?
The asking price for this property is $3,200,000.
What are key features of this property?
This property features: Approx. 28,000 SF multi‑building industrial complex on 4.5 AC fronting Hwy 158 in Midland (year built 2003); Multiple shops with office space including conference rooms, reception, break rooms, storage, and 6+ baths; 3‑phase power plus air lines, and extensive electrical capacity with abundant 110V outlets and 30‑amp plugs
