Former State Office
For Sale
$871,500
3900 E Hwy 158, Midland, TX 79706
Single office building with 15 offices, three bathrooms, and direct access to Hwy 158.
Property Size5,000 SF
Lot Size1.07 Acres
Price / SF$174.30
Days on Market98
Property Features for 3900 E Hwy 158
General Information
Standard status
Active
Size
5,000 SF
Lot size
1.07 Acres
Site & Location
Traffic Count
25,000 vehicles/day
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
2015
Listing Agency:
The Real Estate Ranch LLC
Listed By:
Thomas Johnston ABR /CNHS
(512) 970-1610
Source:
Hauspg
Added: Jul 24
Changed: Oct 26
Last Checked: Oct 7 at 12:58PM
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 former state office building offers flexible space arranged with 15 offices, including two to three executive offices, plus three bathrooms. Additional accommodations include a safety office and a foyer that can support office or flex use. The property totals about 5,000 square feet and sits on roughly 1.07 acres.
The building provides direct access to Hwy 158 and is about a mile from I-20. Public remarks indicate substantial visibility and drive-by traffic along Hwy 158.
The site is served by a water well and septic, supporting on-site utilities for continued office use.
The building provides direct access to Hwy 158 and is about a mile from I-20. Public remarks indicate substantial visibility and drive-by traffic along Hwy 158.
The site is served by a water well and septic, supporting on-site utilities for continued office use.
Key Highlights
- Nearly 5,000 sqft single office building with 15 offices and 3 bathrooms
- Built in 2015
- Direct access to Hwy 158; about a mile from I‑20
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$60,480
Cap Rate
6.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,209,600
$1.2M
Cap Rate 7%
$864,000
$864.0K
Cap Rate 9%
$672,000
$672.0K
Market Conditions
NOI Build-Up for 5,000 SF
Gross rent
$96.0K $19.20/SF
− Vacancy
−$15.4K −$3.07/SF
EGI
$80.6K $16.13/SF
− OpEx
−$20.2K −$4.03/SF
NOI
$60.5K $12.10/SF
Area
Midland, TX
Vacancy
16.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,209,600
Cap Rate 7%
$864,000
Cap Rate 9%
$672,000
Alternative Uses
Best Use
Office B
$864.0K
$756.0K – $1.01M
NOI $60,480 @ 7.0% cap · market cap 6.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.18M
$1.03M – $1.38M
NOI $82,560 @ 7.0% cap · market cap 9.47%
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
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Current Use
Lease Details
25,000 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
26
Businesses Nearby
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 Office in South region
Frequently Asked Questions
What type of property is this?
Office building - Single office building with 15 offices, three bathrooms, and direct access to Hwy 158.
Where is this office building located?
The property is located at 3900 E Hwy 158 Midland, TX.
What is the asking price?
The asking price for this property is $871,500.
What are key features of this property?
This property features: Nearly 5,000 sqft single office building with 15 offices and 3 bathrooms; Built in 2015; Direct access to Hwy 158; about a mile from I‑20
