Flex Space with Oversized Bay
4004 N County Rd 1148, Midland, TX 79705
For Sale
New
$795,000
Commercial Sale, Midland, TX
Property Size4,000 SF
Lot Size2.50 Acres
Price / SF$198.75
Days on Market3
Property Features for 4004 N County Rd 1148
General Information
Property type
Property subtype
Property condition
Subdivision
Standard status
Size
Lot size
Taxes and HOA fees
Tax Description
Tax Annual Amount
Legal Description
Building Details
Year built
Listing Agency:
Heritage Real Estate
(432) 701-0550
Listed By:
Joshua De Los Reyes
(915) 227-5519
Added: Nov 10
Last Checked: Nov 12 at 5:06PM
MLS# 50099564
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.
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Investment Insights
Based on property information with market context.
Under construction, this 4,000-square-foot flex facility is planned with 3,000 square feet of shop space and 1,000 square feet of dedicated office space. Three overhead bay doors, each measuring 14 feet by 14 feet, serve the shop. The property is on a 2.5-acre tract, with additional land available for equipment storage, parking, or business expansion.
Key Highlights
- 4,000‑square‑foot facility with 3,000 square feet of shop space and 1,000 square feet of office space
- Three 14' x 14' overhead bay doors
- 2.5‑acre tract
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,880
Cap Rate
4.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$717,600
$717.6K
Cap Rate 7%
$512,571
$512.6K
Cap Rate 9%
$398,667
$398.7K
Market Conditions
NOI Build-Up for 4,000 SF
Gross rent
$54.2K $13.56/SF
− Vacancy
−$3.0K −$0.75/SF
EGI
$51.3K $12.81/SF
− OpEx
−$15.4K −$3.84/SF
NOI
$35.9K $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 Rate 5%
$717,600
Cap Rate 7%
$512,571
Cap Rate 9%
$398,667
Alternative Uses
Best Use
Industrial
$512.6K
$448.5K – $598.0K
NOI $35,880 @ 7.0% cap · market cap 4.51%
Second Best
Flex RnD
$502.8K
$439.9K – $586.6K
NOI $35,194 @ 7.0% cap · market cap 4.43%
Theoretical Best
Office A
$943.5K
$825.6K – $1.10M
NOI $66,048 @ 7.0% cap · market cap 8.31%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
65
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
$329,300
Median Home Value
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Market
Average Price Trend$/SF for Flex space in Midland, TX
Properties on Market for Flex space in Midland
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Flex space - Shop and office areas support a range of business operations, with land for outdoor storage or parking.
Where is this flex space located?
The property is located at 4004 N County Rd 1148 Midland, TX.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: 4,000‑square‑foot facility with 3,000 square feet of shop space and 1,000 square feet of office space; Three 14' x 14' overhead bay doors; 2.5‑acre tract
