Flex Space with
For Sale
Contact for pricing
5713 West CR-135, Midland, TX 79706
Recently completed industrial facility combining office accommodations, shop capacity, and outdoor operating space.
Property Size9,000 SF
Lot Size2.62 Acres
Price / SF$183.33
Days on Market24
Property Features for 5713 West CR-135
General Information
Standard status
Active
Size
9,000 SF
Lot size
2.62 Acres
Property subtype
Industrial
Site & Location
Highway Access
Yes
Road Access
Yes
Fenced Yard
Yes
Building Details
Year Built
2025
Listing Agency:
Invest Texas Real Estate
(254) 855-9179
Listed By:
Robert LaFrance · License #TX682287
Source:
Crexi
Added: Aug 6
Changed: Aug 29
Last Checked: Aug 29 at 7:11PM
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 Invest Texas Real Estate
Investment Insights
Based on property information with market context.
Completed in 2025, this flex facility brings together professional office space, substantial shop area, and a mezzanine that expands storage or operational capacity. The property sits on a fenced 2.62-acre site suited to equipment staging, fleet parking, and outdoor industrial activity.
Access connects the facility with Loop 250, Highway 349, Highway 158, and Interstate 20. The configuration supports a range of industrial operations, including oilfield services, contracting, manufacturing, fabrication, and distribution.
Access connects the facility with Loop 250, Highway 349, Highway 158, and Interstate 20. The configuration supports a range of industrial operations, including oilfield services, contracting, manufacturing, fabrication, and distribution.
Key Highlights
- Completed in 2025
- 9,000‑square‑foot industrial facility with office and shop areas
- Mezzanine provides additional storage or operational space
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$108,864
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.60%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,177,280
$2.2M
Cap Rate 7%
$1,555,200
$1.6M
Cap Rate 9%
$1,209,600
$1.2M
Market Conditions
NOI Build-Up for 9,000 SF
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.
Gross rent
$172.8K $19.20/SF
− Vacancy
−$27.6K −$3.07/SF
EGI
$145.2K $16.13/SF
− OpEx
−$36.3K −$4.03/SF
NOI
$108.9K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,177,280
Cap Rate 7%
$1,555,200
Cap Rate 9%
$1,209,600
Alternative Uses
Best Use
Office B
$1.56M
$1.36M – $1.81M
NOI $108,864 @ 7.0% cap · market cap 6.60%
Second Best
Warehouse
$1.40M
$1.23M – $1.63M
NOI $98,029 @ 7.0% cap · market cap 5.94%
Theoretical Best
Office A
$2.12M
$1.86M – $2.48M
NOI $148,608 @ 7.0% cap · market cap 9.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
42
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Recently completed industrial facility combining office accommodations, shop capacity, and outdoor operating space.
Where is this flex space located?
The property is located at 5713 West CR-135 Midland, TX.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: Completed in 2025; 9,000‑square‑foot industrial facility with office and shop areas; Mezzanine provides additional storage or operational space
