Quadplex with Road
5108 FM 307 Midland, TX 79706
5108 FM 307, Midland, TX, 79706
$989,000
For Sale
$989,000
COMMERCIAL - Midland, TX
Property Size8,840 SF
Lot Size2.93 Acres
Price / SF$111.88
Days on Market408
Property Features for 5108 FM 307
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Standard status
- Active
- Size
- 8,840 SF
- Lot size
- 2.93 Acres
Taxes and HOA fees
- Tax Description
- 2.93 acres out of , NW/4NW/4, SEC: 3, BLK: 38-T2S
Listing Agency
The Real Estate Ranch LLC
(432) 688-8200
6 Desta Drive Suite 1260, Midland, TX
Listed by
Thomas Johnston ABR /CNHS · License #542176
(512) 970-1610
Added: Jun 6, 2025 Checked: Jul 18 at 2:06 am
MLS# 50082714
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.
Investment Insights
Based on property information with market context.
This residential income quadplex is situated on 2.93 acres and currently offers four leased units. Public remarks indicate that three of the units were upgraded within the last two years, reflecting relatively recent work.
The property is located at 5108 FM 307 in Midland, Texas 79706 and is described as being in Greenwood ISD. The site has approximately 195 feet of frontage to FM 307.
Additional public remarks suggest RV spots could be considered, though no further details are provided. Prospective tenants, buyers, and partners should verify any expansion or value-add plans and confirm feasibility with relevant local requirements.
The property is located at 5108 FM 307 in Midland, Texas 79706 and is described as being in Greenwood ISD. The site has approximately 195 feet of frontage to FM 307.
Additional public remarks suggest RV spots could be considered, though no further details are provided. Prospective tenants, buyers, and partners should verify any expansion or value-add plans and confirm feasibility with relevant local requirements.
Key Highlights
- Four leased units providing immediate rental income.
- Located in Greenwood ISD with 2.93 acres and 195' frontage on FM 307.
- Three units have new 2‑year leases.
Local Financial Insights For Multifamily LT 5
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 | $122.0k | $13.80 |
| − Vacancy | −$9.1k | −$1.04 |
| EGI | $112.8k | $12.77 |
| − OpEx | −$33.9k | −$3.83 |
| NOI | $79.0k | $8.94 |
8,840 SF · lease $13.80/SF/yr · vacancy 7.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.13M
$987.4K – $1.32M
NOI $78,990 @ 7.0% cap · market cap 7.99%
Second Best
Apartment 5plus
$1.05M
$920.6K – $1.23M
NOI $73,645 @ 7.0% cap · market cap 7.45%
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
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Quadplex - Four leased units on 2.93 acres in Greenwood ISD with approximately 195 feet of frontage to FM 307.
Where is this quadplex 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 providing immediate rental income.; Located in Greenwood ISD with **2.93 acres** and **195' frontage on FM 307**.; Three units have new 2‑year leases.
