Commercial Land with Metal
For Sale
$375,000
4909 E County Rd 60, Midland, TX 79705
Land, Midland, TX
Property Size1,600 SF
Lot Size2.50 Acres
Price / SF$234.38
Days on Market49
Property Features for 4909 E County Rd 60
General Information
Property type
Land
Property subtype
Other
Fencing
Barbed Wire
Subdivision
38-T1S
Lot features
Corner Lot
Elementary school
Milam
Middle school
San Jacinto
High school
Legacy High School
Standard status
Active
APN
R000224864
Lot size
2.50 Acres
Taxes and HOA fees
Tax Annual Amount
1200
Utilities
Sewer type
Septic Tank
Water source
Well
Listing Agency:
Heritage Real Estate
(432) 701-0550
Listed By:
Rebecca Dominguez · License #0836002
(432) 269-4142
Added: Jul 14
Changed: Aug 20
Last Checked: Aug 31 at 4:06PM
MLS# 176157
Copyright © 2026 Odessa 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.
This 2.5-acre commercial land property includes a 1,600-square-foot metal building constructed in 2018. The structure contains an office and bathroom, providing existing enclosed improvements on the site. Barbed-wire fencing surrounds the property.
Site infrastructure includes a drilled water well and septic tank, while the property is ready for electrical service. The combination of land area, an existing building, and on-site water and wastewater systems supports commercial, workshop, or other uses identified for the property.
Site infrastructure includes a drilled water well and septic tank, while the property is ready for electrical service. The combination of land area, an existing building, and on-site water and wastewater systems supports commercial, workshop, or other uses identified for the property.
Key Highlights
- 2.5‑acre commercial land parcel
- 1,600‑square‑foot metal building constructed in 2018
- Building includes an office and bathroom
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
$14,352
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
3.83%
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%
$287,040
$287.0K
Cap Rate 7%
$205,029
$205.0K
Cap Rate 9%
$159,467
$159.5K
Market Conditions
NOI Build-Up for 1,600 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
$21.7K $13.56/SF
− Vacancy
−$1.2K −$0.75/SF
EGI
$20.5K $12.81/SF
− OpEx
−$6.2K −$3.84/SF
NOI
$14.4K $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%
$287,040
Cap Rate 7%
$205,029
Cap Rate 9%
$159,467
Alternative Uses
Best Use
Industrial
$205.0K
$179.4K – $239.2K
NOI $14,352 @ 7.0% cap · market cap 3.83%
Second Best
Flex RnD
$201.1K
$176.0K – $234.6K
NOI $14,077 @ 7.0% cap · market cap 3.75%
Theoretical Best
Office A
$377.4K
$330.2K – $440.3K
NOI $26,419 @ 7.0% cap · market cap 7.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
42
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 Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - Improved acreage includes a metal structure with an office and bathroom.
Where is this commercial land located?
The property is located at 4909 E County Rd 60 Midland, TX.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: 2.5‑acre commercial land parcel; 1,600‑square‑foot metal building constructed in 2018; Building includes an office and bathroom
