Updated Flex Space with Bay
For Sale
$625,000
6002 S Hwy 349, Midland, TX 79706
Commercial Sale, Midland, TX
Property Size4,800 SF
Lot Size1.07 Acres
Price / SF$130.21
Days on Market111
Property Features for 6002 S Hwy 349
General Information
Property type
Commercial Sale
Property subtype
Other
Lot features
Lighted Parking
Subdivision
MS3
Standard status
Active
APN
R000006554
Size
4,800 SF
Lot size
1.07 Acres
Taxes and HOA fees
Tax Annual Amount
1722
Utilities
Water source
Well
Building Details
Year built
1993
Floors in Building
1
Building materials
Metal Siding
Roof type
Metal
Listing Agency:
Heritage Real Estate
(432) 701-0550
Listed By:
Aleisha Allen · License #0778220
(432) 631-3823
Added: Jun 22
Changed: Oct 8
Last Checked: Oct 10 at 10:06AM
MLS# 156747
Copyright © 2026 Odessa 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.
Investment Insights
Based on property information with market context.
This 4,800-square-foot flex property sits on 1.07 acres and includes three bay doors. Built in 1993, the building has undergone updates while retaining its concrete slab and metal beams. Metal siding and a metal roof complete the exterior, and the interior includes flexible workspace, a kitchenette, and a full bathroom with shower.
The property is at 6002 S Hwy 349 in Midland, Texas. Water is supplied by a well.
The property is at 6002 S Hwy 349 in Midland, Texas. Water is supplied by a well.
Key Highlights
- 4,800‑square‑foot flex property on 1.07 acres
- Three bay doors
- Flexible workspace, kitchenette, and full bathroom with shower
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$52,282
Cap Rate
8.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,045,640
$1.0M
Cap Rate 7%
$746,886
$746.9K
Cap Rate 9%
$580,911
$580.9K
Market Conditions
NOI Build-Up for 4,800 SF
Gross rent
$65.1K $13.56/SF
− Vacancy
−$3.6K −$0.75/SF
EGI
$61.5K $12.81/SF
− OpEx
−$9.2K −$1.92/SF
NOI
$52.3K $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%
$1,045,640
Cap Rate 7%
$746,886
Cap Rate 9%
$580,911
Alternative Uses
Best Use
Warehouse
$746.9K
$653.5K – $871.4K
NOI $52,282 @ 7.0% cap · market cap 8.37%
Second Best
Industrial
$615.1K
$538.2K – $717.6K
NOI $43,056 @ 7.0% cap · market cap 6.89%
Theoretical Best
Office A
$1.13M
$990.7K – $1.32M
NOI $79,258 @ 7.0% cap · market cap 12.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
29
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
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - A kitchenette and full bathroom with shower add practical support for work on site.
Where is this flex space located?
The property is located at 6002 S Hwy 349 Midland, TX.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: 4,800‑square‑foot flex property on 1.07 acres; Three bay doors; Flexible workspace, kitchenette, and full bathroom with shower
