6501 S FM 1788, Midland, TX 79706

Building Details

Buildings 1 More

Building Size 7,400 SF More

Listing Agency: Moriah Brokerage Services Show Phone

Listed By: Trey Dennis · License TX #723150 Show Phone

Source: Moodyscre

Added: Aug 10 Changed: Nov 11 Last Checked: Nov 12 at 7:53AM

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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 Moriah Brokerage Services

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Investment Insights

Based on property information with market context.

This flex property at 6501 S FM 1788 includes a 7,400-square-foot building arranged for office functions, warehouse use, and distribution activity. The overall property measures 23,720 square feet and includes yard area, providing a combination of enclosed workspace and outdoor operating area.

Frontage extends 570 feet along FM 1788 and 798 feet along CR 150. Access from both roadways creates multiple points of entry for industrial operations and supports the property's office, warehouse, distribution, and yard components. The property is located in Midland, Texas.

Key Highlights

• 7,400‑square‑foot building with office and warehouse areas
• 23,720‑square‑foot property with yard area
• 570 feet of frontage along FM 1788

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$258,360

Cap Rate

7.78%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$5,167,200 $5.2M

Cap Rate 7%

$3,690,857 $3.7M

Cap Rate 9%

$2,870,667 $2.9M

Is this asking price fair?

Market Conditions

NOI Build-Up for 23,720 SF

Gross rent

$321.6K $13.56/SF

− Vacancy

−$17.7K −$0.75/SF

EGI

$304.0K $12.81/SF

− OpEx

−$45.6K −$1.92/SF

NOI

$258.4K $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%

$5,167,200

Cap Rate 7%

$3,690,857

Cap Rate 9%

$2,870,667

Alternative Uses

Best Use

Warehouse

$3.69M

$3.23M – $4.31M (±1% cap)

NOI $258,360 @ 7.0% cap · market cap 7.78%

Second Best

Industrial

$3.04M

$2.66M – $3.55M (±1% cap)

NOI $212,767 @ 7.0% cap · market cap 6.41%

Theoretical Best

Office A

$5.60M

$4.90M – $6.53M (±1% cap)

NOI $391,665 @ 7.0% cap · market cap 11.79%

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

Open Analytics

Current Use

Electrical Maintenance & Construction Electrical Service

Suggested Use

Top Pick Electrical Service Auto Parts Store Storage Facility Pharmacy Real Estate Agency Hair Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

77

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

Average Price Trend$/SF for Flex space in Midland, TX

$186 Jul

$224 Aug

$207 Sep

$195 Oct

Properties on Market for Flex space in Midland

Jul

Aug

Sep

Oct

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - Office, warehouse, and yard areas support varied industrial operations.

Where is this flex space located?

The property is located at 6501 S FM 1788 Midland, TX.

What is the asking price?

The asking price for this property is $3,320,800.

What are key features of this property?

This property features: 7,400‑square‑foot building with office and warehouse areas; 23,720‑square‑foot property with yard area; 570 feet of frontage along FM 1788