Mixed-Use Property with
5914 FM 715, Midland, TX 79706
For Sale
New
$925,000
Commercial Sale, Midland, TX
Property Size5,500 SF
Lot Size3.00 Acres
Price / SF$145.35
Days on Market1
Property Features for 5914 FM 715
General Information
Property type
Property subtype
Subdivision
Standard status
Size
Lot size
Additional Details
Property Use
Taxes and HOA fees
Tax Description
Tax Annual Amount
Legal Description
Amenities
RV power
Building Details
Year built
Listing Agency:
Heritage Real Estate
(432) 701-0550
Listed By:
Jessica Bray · License TX #0648625
(432) 254-7080
Added: Nov 13
Last Checked: Nov 13 at 11:06PM
MLS# 50099624
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 3-acre mixed-use property includes a 5,500-square-foot shop with four bays and nearly 800 square feet of office space. Two of the bays are described as 15 feet. The residential improvements are a 2,100-square-foot, four-bedroom, three-bath house built in 1999 and a 2013 single-wide with two bedrooms and one bath. A separate acre to the west is fenced.
The property is on FM 715 in Midland, with access to I-20. Site services include a septic system, well, and electricity; RV power is available at the rear of the shop.
The property is on FM 715 in Midland, with access to I-20. Site services include a septic system, well, and electricity; RV power is available at the rear of the shop.
Key Highlights
- 3‑acre parcel with a fenced acre to the west
- 5,500‑square‑foot shop with 4 bays, including two 15‑foot bays
- Nearly 800 square feet of office space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$76,010
Cap Rate
8.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,520,200
$1.5M
Cap Rate 7%
$1,085,857
$1.1M
Cap Rate 9%
$844,556
$844.6K
Market Conditions
NOI Build-Up for 6,364 SF
Gross rent
$133.6K $21.00/SF
− Vacancy
−$12.0K −$1.89/SF
EGI
$121.6K $19.11/SF
− OpEx
−$45.6K −$7.17/SF
NOI
$76.0K $11.94/SF
Area
Midland, TX
Vacancy
9.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,520,200
Cap Rate 7%
$1,085,857
Cap Rate 9%
$844,556
Alternative Uses
Best Use
Mixed Use
$1.09M
$950.1K – $1.27M
NOI $76,010 @ 7.0% cap · market cap 8.22%
Second Best
Warehouse
$990.2K
$866.5K – $1.16M
NOI $69,317 @ 7.0% cap · market cap 7.49%
Theoretical Best
Office A
$1.50M
$1.31M – $1.75M
NOI $105,082 @ 7.0% cap · market cap 11.36%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
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Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
44
Businesses Nearby
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
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Shop, office space, two residences, and fenced land combine commercial and residential improvements on one parcel.
Where is this mixed-use property located?
The property is located at 5914 FM 715 Midland, TX.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: 3‑acre parcel with a fenced acre to the west; 5,500‑square‑foot shop with 4 bays, including two 15‑foot bays; Nearly 800 square feet of office space
