Industrial Flex
For Sale
$3,339,375
5620 FM 1788 lot 2, Midland, TX 79706
Commercial Sale, Midland, TX
Property Size17,125 SF
Lot Size5.85 Acres
Price / SF$195
Days on Market326
Property Features for 5620 FM 1788 lot 2
General Information
Property type
Commercial Sale
Property subtype
Other
Property condition
Under Construction
Subdivision
MM6
Standard status
Active
Size
17,125 SF
Lot size
5.85 Acres
Taxes and HOA fees
Tax Annual Amount
1
Amenities
private offices
conference room
kitchenette
Building Details
Year built
2025
Listing Agency:
NRG Realty Group, LLC
(210) 860-0241
Listed By:
Amy Brasher Barnett · License #514276
(432) 352-6714
Added: Nov 24, 2025
Changed: Oct 12
Last Checked: Oct 16 at 1:06AM
MLS# 50087063
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.
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Investment Insights
Based on property information with market context.
This under-construction flex facility is planned with 17,125 square feet across 5.849 acres. The building includes 2,000 square feet of office space with seven private offices, a conference room, and a kitchenette, along with a 2,000-square-foot mezzanine suitable for office, breakroom, or storage functions. The 13,125-square-foot shop measures 75' x 175' x 32' and is prepared for a 10-ton crane. Eight 14' x 16' grade-level doors support shop access and material movement.
The property is located at 5620 FM 1788 Lot 2 in Midland, Texas, 79706. Utility infrastructure includes approximately 20 GPM water capacity and 3-Phase power. Constructed in 2025, the facility offers a substantial industrial configuration with separate administrative and production areas.
The property is located at 5620 FM 1788 Lot 2 in Midland, Texas, 79706. Utility infrastructure includes approximately 20 GPM water capacity and 3-Phase power. Constructed in 2025, the facility offers a substantial industrial configuration with separate administrative and production areas.
Key Highlights
- 17,125 SF industrial facility on 5.849 acres
- 2,000 SF office area with 7 private offices, conference room, and kitchenette
- 13,125 SF shop measuring 75' x 175' x 32'
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$186,527
Cap Rate
5.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,730,540
$3.7M
Cap Rate 7%
$2,664,671
$2.7M
Cap Rate 9%
$2,072,522
$2.1M
Market Conditions
NOI Build-Up for 17,125 SF
Gross rent
$232.2K $13.56/SF
− Vacancy
−$12.8K −$0.75/SF
EGI
$219.4K $12.81/SF
− OpEx
−$32.9K −$1.92/SF
NOI
$186.5K $10.89/SF
Area
Midland, TX
Vacancy
5.50%
Lease Rate
$13.56 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,730,540
Cap Rate 7%
$2,664,671
Cap Rate 9%
$2,072,522
Alternative Uses
Best Use
Warehouse
$2.66M
$2.33M – $3.11M
NOI $186,527 @ 7.0% cap · market cap 5.59%
Second Best
Industrial
$2.19M
$1.92M – $2.56M
NOI $153,610 @ 7.0% cap · market cap 4.60%
Theoretical Best
Office A
$4.04M
$3.53M – $4.71M
NOI $282,768 @ 7.0% cap · market cap 8.47%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
32 ft
Clear height
8
Drive-in doors
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
34
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 79706, TX
31,805
Population
12,368
Households
2.6
Avg Household Size
32
Median Age
23%
College-Educated
87%
High-School Grad
689.5 sq mi
ZIP Area
46
Density / Sq Mi
$110,988
Median Household Income
$58,023
Median Earnings
$897
Median Rent
$280,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Flex space - Under-construction industrial space combines dedicated offices, a large shop, mezzanine storage, and multiple grade-level doors.
Where is this flex space located?
The property is located at 5620 FM 1788 lot 2 Midland, TX.
What is the asking price?
The asking price for this property is $3,339,375.
What are key features of this property?
This property features: 17,125 SF industrial facility on 5.849 acres; 2,000 SF office area with 7 private offices, conference room, and kitchenette; 13,125 SF shop measuring 75' x 175' x 32'
