Flex Office-Warehouse with Overhead
For Sale
$950,000
4417 West Industrial Avenue, Midland, TX 79703
Industrial flex facility with two private offices, a full bathroom with shower, and five overhead doors including pull-through bays.
Property Size6,500 SF
Lot Size2.00 Acres
Days on Market91
Property Features for 4417 West Industrial Avenue
General Information
Standard status
Active
Size
6,500 SF
Lot size
2.00 Acres
Property subtype
Industrial - Flex - Industrial
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Drive-In Doors
5
Office Units
2
Building Details
Building Size
6,500 SF
Year Built
1950
Year Renovated
2018
Listing Agency:
Moriah Brokerage Services
(512) 977-8596
Listed By:
Jack Oduro
Source:
Commercialcafe
Added: May 14
Changed: Aug 11
Last Checked: Aug 12 at 8:37AM
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 Brokerage Services
Investment Insights
Based on property information with market context.
This flex-style industrial property combines office and warehouse/shop space on a 2-acre lot. The building includes two private offices and a full-size bathroom with a shower. The warehouse/shop area is serviced by five overhead doors, including two pull-through bays for easier truck access and movement. An additional 160 SF on-site storage building provides extra space for equipment or inventory.
Located at 4417 West Industrial Avenue on the city’s west side, the property is described as just south of Business 20 and across railway tracks on Far West Industrial Avenue. The remarks also note close proximity to Loop 250 and Highway Business 20, supporting convenient connectivity to major transportation routes.
Overall, the layout is suited for operations that need both functional shop access and dedicated office space, with multiple dock-style overhead doors for day-to-day logistics and work flow.
Located at 4417 West Industrial Avenue on the city’s west side, the property is described as just south of Business 20 and across railway tracks on Far West Industrial Avenue. The remarks also note close proximity to Loop 250 and Highway Business 20, supporting convenient connectivity to major transportation routes.
Overall, the layout is suited for operations that need both functional shop access and dedicated office space, with multiple dock-style overhead doors for day-to-day logistics and work flow.
Key Highlights
- Industrial flex facility on a 2‑acre lot with office and warehouse/shop space
- Building has 2 private offices and a full bathroom with shower
- Shop includes 5 overhead doors, including 2 pull‑through bays
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
$78,624
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
8.28%
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%
$1,572,480
$1.6M
Cap Rate 7%
$1,123,200
$1.1M
Cap Rate 9%
$873,600
$873.6K
Market Conditions
NOI Build-Up for 6,500 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
$124.8K $19.20/SF
− Vacancy
−$20.0K −$3.07/SF
EGI
$104.8K $16.13/SF
− OpEx
−$26.2K −$4.03/SF
NOI
$78.6K $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%
$1,572,480
Cap Rate 7%
$1,123,200
Cap Rate 9%
$873,600
Alternative Uses
Best Use
Office B
$1.12M
$982.8K – $1.31M
NOI $78,624 @ 7.0% cap · market cap 8.28%
Second Best
Warehouse
$1.01M
$885.0K – $1.18M
NOI $70,798 @ 7.0% cap · market cap 7.45%
Theoretical Best
Office A
$1.53M
$1.34M – $1.79M
NOI $107,328 @ 7.0% cap · market cap 11.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
5
Drive-in doors
2
Office units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
196
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 79703, TX
21,205
Population
8,110
Households
2.6
Avg Household Size
33
Median Age
20%
College-Educated
83%
High-School Grad
6.5 sq mi
ZIP Area
3,262
Density / Sq Mi
$80,281
Median Household Income
$44,977
Median Earnings
$1,466
Median Rent
$220,600
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Industrial flex facility with two private offices, a full bathroom with shower, and five overhead doors including pull-through bays.
Where is this flex space located?
The property is located at 4417 West Industrial Avenue Midland, TX.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Industrial flex facility on a 2‑acre lot with office and warehouse/shop space; Building has 2 private offices and a full bathroom with shower; Shop includes 5 overhead doors, including 2 pull‑through bays
