Midland Office Building For
For Sale
Contact for pricing
404 Veterans Airpark Ln, Midland, TX 79705
42,165 SF office building in Midland, TX for sale.
Property Size42,165 SF
Lot Size3.06 Acres
Price / SF$225.31
Days on Market201
Property Features for 404 Veterans Airpark Ln
General Information
Standard status
Active
Size
42,165 SF
Class
A
Lot size
3.06 Acres
Property subtype
Office
Zoning
Commercial
Building Details
Year Built
2019
Stories
3
Listing Agency:
Moriah Real Estate Company, LLC
(432) 682-2510
Listed By:
Jack Oduro · License #799220
Source:
Crexi
Added: Feb 11
Changed: Aug 24
Last Checked: Aug 29 at 9:01PM
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 Moriah Real Estate Company, LLC
Investment Insights
Based on property information with market context.
This 42,165-square-foot office building in Midland, TX, presents an exceptional commercial investment opportunity. The property is strategically located within a commercially zoned area, offering strong potential for investors. The building's generous square footage and flexible floor plans make it ideally suited for a variety of office configurations. Positioned in the heart of Midland, it provides outstanding visibility and convenient access, making it an attractive location for businesses. Its substantial size and prime zoning create opportunities for a wide range of commercial uses. The property is located near N Big Spring St on Veterans Airpark Ln and sits just north of the Claydesta Plaza Business Park within a mile of Loop 250. The property is a stand-alone building on 3.06 acres. Surrounding businesses include ExxonMobil and Apache Corporation.
Key Highlights
- Expansive 42,165 sq ft office building.
- Prime location in the heart of Midland, TX.
- Strategically located within a commercially zoned area.
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
$510,028
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
5.37%
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%
$10,200,560
$10.2M
Cap Rate 7%
$7,286,114
$7.3M
Cap Rate 9%
$5,666,978
$5.7M
Market Conditions
NOI Build-Up for 42,165 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
$809.6K $19.20/SF
− Vacancy
−$129.5K −$3.07/SF
EGI
$680.0K $16.13/SF
− OpEx
−$170.0K −$4.03/SF
NOI
$510.0K $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 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%
$10,200,560
Cap Rate 7%
$7,286,114
Cap Rate 9%
$5,666,978
Alternative Uses
Best Use
Office B
$7.29M
$6.38M – $8.50M
NOI $510,028 @ 7.0% cap · market cap 5.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$9.95M
$8.70M – $11.60M
NOI $696,228 @ 7.0% cap · market cap 7.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
849
Businesses Nearby
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 Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - 42,165 SF office building in Midland, TX for sale.
Where is this office building located?
The property is located at 404 Veterans Airpark Ln Midland, TX.
What is the asking price?
The asking price for this property is $9,500,000.
What are key features of this property?
This property features: Expansive 42,165 sq ft office building.; Prime location in the heart of Midland, TX.; Strategically located within a commercially zoned area.
