Industrial Flex Building with
5620 FM 1788 lot 4, Midland, TX 79706
For Sale
$2,203,750
Pending
Commercial Sale, Midland, TX
Property Size11,375 SF
Lot Size6.18 Acres
Days on Market351
Property Features for 5620 FM 1788 lot 4
General Information
Property type
Property subtype
Property condition
Subdivision
Standard status
Size
Lot size
Taxes and HOA fees
Tax Annual Amount
Amenities
conference room
kitchen/breakroom
fiber internet
covered wash-bay
Building Details
Year built
Listing Agency:
NRG Realty Group, LLC
(210) 860-0241
Listed By:
Amy Brasher Barnett, CCIM · License #514276
(432) 352-6714
Added: Nov 24, 2025
Changed: Oct 19
Last Checked: Nov 9 at 3:06AM
MLS# 50087065
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.
Scheduled for completion in 2025, this 11,375-square-foot flex facility sits on 6.182 acres and combines finished office, warehouse, and service areas. The 2,000-square-foot office includes seven private offices, a conference room, two bathrooms, a kitchen and breakroom, plus a storage office. An unfinished second-floor mezzanine provides up to 2,000 square feet and is plumbed for two bathrooms, showers, and a kitchen.
The fully insulated warehouse includes a 10-ton crane, three drive-through bays with six 14-by-16-foot overhead doors, an additional office, and a bathroom with shower. A 1,875-square-foot covered wash-bay supports the service component. The property also has 3-phase power, 20 GPM water capacity, and fiber internet. Located on FM 1788 in Midland, Texas.
The fully insulated warehouse includes a 10-ton crane, three drive-through bays with six 14-by-16-foot overhead doors, an additional office, and a bathroom with shower. A 1,875-square-foot covered wash-bay supports the service component. The property also has 3-phase power, 20 GPM water capacity, and fiber internet. Located on FM 1788 in Midland, Texas.
Key Highlights
- 11,375 SF building on 6.182 acres
- 2,000 SF office with 7 private offices, conference room, kitchen/breakroom, and 2 bathrooms
- 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
6.24%
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 6.24%
Second Best
Warehouse
$1.77M
$1.55M – $2.06M
NOI $123,897 @ 7.0% cap · market cap 5.62%
Theoretical Best
Office A
$2.68M
$2.35M – $3.13M
NOI $187,824 @ 7.0% cap · market cap 8.52%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
6
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
$280,500
Median Home Value
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Market
Average Price Trend$/SF for Flex space in Midland, TX
Properties on Market for Flex space in Midland
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Flex space - Under-construction facility combines office, warehouse, wash-bay, and unfinished mezzanine space.
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 $2,203,750.
What are key features of this property?
This property features: 11,375 SF building on 6.182 acres; 2,000 SF office with 7 private offices, conference room, kitchen/breakroom, and 2 bathrooms; Up to 2,000 SF unfinished mezzanine plumbed for 2 bathrooms, showers, and a kitchen
