Multi-Family & RV Park
5108 FM 307 Midland, TX 79706
5108 FM 307, Midland, TX, 79706
$989,000
For Sale
$989,000
Four leased units sit on 2.93 acres with 195' of frontage to FM 307 in Greenwood ISD.
Property Size8,840 SF
Price / SF$111.88
Days on Market413
Property Features for 5108 FM 307
General Information
- Standard status
- Active
- Size
- 8,840 SF
- Property subtype
- General Commercial
Listing agency
The Real Estate Ranch LLC
(512) 970-1610
Listed by
Thomas Johnston ABR /CNHS
(512) 970-1610
Source
Xome
Added: Jun 4, 2025 Updated: Jul 19 at 2:07AM Checked: Jul 21 at 3:03AM
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
Investment Insights
Based on property information with market context.
This for-sale multi-family and RV park property features four leased units on 2.93 acres, with 195' of frontage to FM 307. The public remarks note that three of the units have been newly leased within the last two years.
The property is described as being within Greenwood ISD and close to business parks, with I-20 nearby.
The site is positioned for buyers looking for an income-producing setup tied to an existing leased portfolio, with the frontage along FM 307 supporting continued visibility and access from the road.
The property is described as being within Greenwood ISD and close to business parks, with I-20 nearby.
The site is positioned for buyers looking for an income-producing setup tied to an existing leased portfolio, with the frontage along FM 307 supporting continued visibility and access from the road.
Key Highlights
- Four leased units on 2.93 acres in Greenwood ISD
- 195' of frontage to FM 307
- 3 of the leased units have been newly updated within the last 2 years
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $143.2k | $16.20 |
| − Vacancy | −$9.3k | −$1.05 |
| EGI | $133.9k | $15.15 |
| − OpEx | −$60.3k | −$6.82 |
| NOI | $73.6k | $8.33 |
8,840 SF · lease $16.20/SF/yr · vacancy 6.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.05M
$920.6K – $1.23M
NOI $73,645 @ 7.0% cap · market cap 7.45%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.09M
$1.82M – $2.43M
NOI $145,966 @ 7.0% cap · market cap 14.76%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Mobile home & RV ...
Similar For Sale Nearby
FAQs
What type of property is this?
Mobile home & RV park - Four leased units sit on 2.93 acres with 195' of frontage to FM 307 in Greenwood ISD.
Where is this mobile home & rv park located?
The property is located at 5108 FM 307 Midland, TX.
What is the asking price?
The asking price for this property is $989,000.
What are key features of this property?
This property features: Four leased units on 2.93 acres in Greenwood ISD; 195' of frontage to FM 307; 3 of the leased units have been newly updated within the last 2 years
