New Construction Flex
For Sale
Contact for pricing
6003 W County RD 135, Midland, TX 79705
Newly built facility accommodates oilfield service, fleet, fabrication, manufacturing, and other industrial operations.
Property Size9,000 SF
Price / SF$183.33
Days on Market15
Property Features for 6003 W County RD 135
General Information
Standard status
Active
Size
9,000 SF
Property subtype
Industrial
Lease Type
NNN
Listing Agency:
Invest Texas Real Estate
Listed By:
Robert LaFrance · License #TX682287
(254) 855-9179
Source:
Crexi
Added: Aug 20
Changed: Aug 30
Last Checked: Sep 1 at 6:59AM
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.
This 9,000-square-foot flex space is a newly constructed industrial facility in Midland, Texas. The property is positioned for businesses requiring a facility that can support oilfield service, fleet, fabrication, manufacturing, and related industrial operations.
Located at 6003 W County RD 135, the property offers access to Midland’s industrial market and connectivity throughout the Permian Basin. Its flexible industrial orientation supports a range of operational requirements without limiting the facility to a single business use.
Located at 6003 W County RD 135, the property offers access to Midland’s industrial market and connectivity throughout the Permian Basin. Its flexible industrial orientation supports a range of operational requirements without limiting the facility to a single business use.
Key Highlights
- 9,000‑square‑foot flex space
- New construction in Midland, Texas
- Supports oilfield service, fleet, fabrication, and manufacturing operations
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
$80,729
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
4.89%
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%
$1,614,580
$1.6M
Cap Rate 7%
$1,153,271
$1.2M
Cap Rate 9%
$896,989
$897.0K
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
$122.0K $13.56/SF
− Vacancy
−$6.7K −$0.75/SF
EGI
$115.3K $12.81/SF
− OpEx
−$34.6K −$3.84/SF
NOI
$80.7K $8.97/SF
Area
Midland, TX
Vacancy
5.50%
Lease Rate
$13.56 /SF/Yr
Expense Ratio
30.00%
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%
$1,614,580
Cap Rate 7%
$1,153,271
Cap Rate 9%
$896,989
Alternative Uses
Best Use
Industrial
$1.15M
$1.01M – $1.35M
NOI $80,729 @ 7.0% cap · market cap 4.89%
Second Best
Flex RnD
$1.13M
$989.8K – $1.32M
NOI $79,186 @ 7.0% cap · market cap 4.80%
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
Location Intelligence
Trade Area within ½ mile
42
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 79705, TX
44,138
Population
20,021
Households
2.2
Avg Household Size
33
Median Age
40%
College-Educated
91%
High-School Grad
79.4 sq mi
ZIP Area
556
Density / Sq Mi
$105,106
Median Household Income
$60,415
Median Earnings
$1,431
Median Rent
$329,300
Median Home Value
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 - Newly built facility accommodates oilfield service, fleet, fabrication, manufacturing, and other industrial operations.
Where is this flex space located?
The property is located at 6003 W County RD 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: 9,000‑square‑foot flex space; New construction in Midland, Texas; Supports oilfield service, fleet, fabrication, and manufacturing operations
