Industrial Flex Complex with
For Sale
$3,200,000
3611 E Hwy 158, Midland, TX 79705
Commercial Sale, Midland, TX
Property Size28,921 SF
Lot Size4.50 Acres
Price / SF$110.65
Days on Market92
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 rooms
reception areas
break rooms
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: Sep 3
Last Checked: Sep 7 at 6:06PM
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.
Available for sale or lease, this multi-building flex property comprises 28,921 square feet on 4.5 acres at 3611 E Hwy 158 in Midland. Built in 2003, the complex includes multiple shop areas, offices, conference rooms, reception areas, break rooms, storage, and 6+ baths. Industrial infrastructure includes 3-phase power, air lines, numerous 110V outlets, and 30-amp plugs.
The site fronts Hwy 158 and provides room for equipment, fleet parking, and expansion. Security fencing, a water well with 1,500-gallon storage, multiple 12'-16' roll-up doors, two 5-ton cranes, and an additional crane beam support fabrication, service, logistics, oilfield, and owner-user operations.
The site fronts Hwy 158 and provides room for equipment, fleet parking, and expansion. Security fencing, a water well with 1,500-gallon storage, multiple 12'-16' roll-up doors, two 5-ton cranes, and an additional crane beam support fabrication, service, logistics, oilfield, and owner-user operations.
Key Highlights
- 28,921 SF industrial flex complex on 4.5 acres
- Frontage on Hwy 158 in Midland, TX
- Multiple 12'-16' roll‑up doors and (2) 5‑ton cranes
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
Warehouse
$4.50M
$3.94M – $5.25M
NOI $315,010 @ 7.0% cap · market cap 9.84%
Second Best
Industrial
$3.71M
$3.24M – $4.32M
NOI $259,420 @ 7.0% cap · market cap 8.11%
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
Fenced yard
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 property with shops, offices, heavy power, and secured outdoor operating areas.
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: 28,921 SF industrial flex complex on 4.5 acres; Frontage on Hwy 158 in Midland, TX; Multiple 12'-16' roll‑up doors and (2) 5‑ton cranes
