Flex Building with
For Sale
Contact for pricing
Pending
5620 FM 1788 Lot 4, Midland, TX 79706
Newly built flex property combines office space, insulated warehouse capacity, and three-phase power for varied commercial operations.
Property Size11,375 SF
Lot Size6.18 Acres
Days on Market256
Property Features for 5620 FM 1788 Lot 4
General Information
Standard status
Pending
Size
11,375 SF
Lot size
6.18 Acres
Property subtype
Industrial
Warehouse & Industrial
Office Build-Out
2,000 SF
Mezzanine
2,000 SF
Drive-In Doors
6
Three-Phase Power
Yes
Additional Details
Utilities to Site
Yes
Amenities
conference room
kitchen/breakroom
Building Details
Year Built
2025
Buildings
1
Building Size
11,375 SF
Abandoned
No
Listing Agency:
NRG Realty Group
Listed By:
Amy Brasher Barnett · License #TX 514276
(432) 352-6714
Source:
Crexi
Added: Jan 31
Changed: Oct 13
Last Checked: Oct 12 at 6:57PM
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 NRG Realty Group
Investment Insights
Based on property information with market context.
Completed in 2025, this 11,375-square-foot flex property sits on 6.182 acres and combines dedicated office, warehouse, and service areas. The 2,000-square-foot office component includes seven private offices, a conference room, two bathrooms, a kitchen/breakroom, and a storage office. An unfinished second-floor mezzanine offers up to 2,000 square feet and is plumbed for two bathrooms, showers, and a kitchen. The insulated warehouse includes a 10-ton crane, three drive-through bays, six 14' x 16' overhead doors, an additional office, and a bathroom with shower. A 1,875-square-foot covered wash-bay extends the property's service functionality.
Located at 5620 FM 1788 Lot 4 in Midland, Texas, the property also provides 3-phase power, 20 GPM water capacity, and fiber internet. The combination of office, warehouse, mezzanine, crane, bays, and wash-bay supports a range of flex-space and industrial operations.
Located at 5620 FM 1788 Lot 4 in Midland, Texas, the property also provides 3-phase power, 20 GPM water capacity, and fiber internet. The combination of office, warehouse, mezzanine, crane, bays, and wash-bay supports a range of flex-space and industrial operations.
Key Highlights
- 11,375 SF building on 6.182 acres, completed in 2025
- 2,000 SF office with 7 private offices, conference room, 2 bathrooms, kitchen/breakroom, and storage office
- Up to 2,000 SF unfinished mezzanine plumbed for 2 bathrooms, showers, and a kitchen
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$137,592
Cap Rate
6.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,751,840
$2.8M
Cap Rate 7%
$1,965,600
$2.0M
Cap Rate 9%
$1,528,800
$1.5M
Market Conditions
NOI Build-Up for 11,375 SF
Gross rent
$218.4K $19.20/SF
− Vacancy
−$34.9K −$3.07/SF
EGI
$183.5K $16.13/SF
− OpEx
−$45.9K −$4.03/SF
NOI
$137.6K $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 Rate 5%
$2,751,840
Cap Rate 7%
$1,965,600
Cap Rate 9%
$1,528,800
Alternative Uses
Best Use
Office B
$1.97M
$1.72M – $2.29M
NOI $137,592 @ 7.0% cap · market cap 6.37%
Second Best
Warehouse
$1.77M
$1.55M – $2.06M
NOI $123,897 @ 7.0% cap · market cap 5.73%
Theoretical Best
Office A
$2.68M
$2.35M – $3.13M
NOI $187,824 @ 7.0% cap · market cap 8.69%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
6
Drive-in doors
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
79
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
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Flex space - Newly built flex property combines office space, insulated warehouse capacity, and three-phase power for varied commercial operations.
Where is this flex space located?
The property is located at 5620 FM 1788 Lot 4 Midland, TX.
What is the asking price?
The asking price for this property is $2,161,250.
What are key features of this property?
This property features: 11,375 SF building on 6.182 acres, completed in 2025; 2,000 SF office with 7 private offices, conference room, 2 bathrooms, kitchen/breakroom, and storage office; Up to 2,000 SF unfinished mezzanine plumbed for 2 bathrooms, showers, and a kitchen
