Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    8119 Crk 62 Midland, TX 79706

    • Industrial properties
    • 7,500 SF
    • 5.00 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Industrial properties

    Property Details for 8119 Crk 62

    Year built
    20021
    Lot size
    5.00 lot acres
    Property size
    7,500 SF
    Property type
    Industrial properties
    Property subtype
    Flex space

    Description

    This exceptional Class A commercial/industrial property, located at 8119 E CR 62, Midland, TX 79706, presents a unique investment opportunity. The 7,500-square-foot building sits on a generous 5-acre lot, offering ample space and potential for expansion. Constructed in 2021, this two-story structure boasts a modern design and high-end finishes. The first floor features well-appointed office space, including a conference room, kitchen, and bathrooms. The upper level offers additional office space with impressive glass and brick wall features, a conference room overlooking the warehouse, and a separate bathroom and kitchen. The warehouse itself is a standout feature, including drive-through bays equipped with automatic openers, a dedicated warehouse office, and 280 & 480 electrical service. The property is fully fenced and secure, providing peace of mind. The expansive 5-acre lot offers significant potential for future development, with the possibility of acquiring additional acreage adjacent to the property's western boundary. This property is zoned for commercial use and will be vacant and available for occupancy on November 1, 2024. The asking price is $1,680,000. This is a NNN lease.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Midland
    County
    Midland
    State
    Texas
    Longitude
    -102.081
    Latitude
    31.9917

    Comparable in this City

    • Value Estimation by Request
      5,250 SF

      3307 County Road 1200

      Distribution properties • 5,250 SF
      3307 County Road 1200, Midland, TX 79706
      View Details
    • Value Estimation by Request
      5,000 SF

      10004 County Road 146

      Manufacturing properties • 5,000 SF
      10004 County Road 146, Midland, TX 79706
      View Details
    • Value Estimation by Request
      5,142 SF

      2700 Interstate 20

      Manufacturing properties • 5,142 SF
      2700 Interstate 20, Midland, TX 79706
      View Details
    • Value Estimation by Request
      5,000 SF

      3106 County Road 153

      Flex space • 5,000 SF
      3106 County Road 153, Midland, TX 79706
      View Details
    • Value Estimation by Request
      20,894 SF

      1501 Fairgrounds Rd

      Distribution properties • 20,894 SF
      1501 Fairgrounds Rd, Midland, TX 79706
      View Details
    • Value Estimation by Request
      5.74 Acres

      1304a Dayton Rd

      Flex space • 5.74 Acres
      1304a Dayton Rd, Midland, TX 79706
      View Details

    Similar Nearby for Sale

    • $13,000,000
      82,994 SF

      Midland Industrial Portfolio

      10-Unit Flex Space, High NOI
      2600 County Road 1242, Midland, TX 79706
      View Details
    • $4,680,000
      20,894 SF

      Midland TX Office Complex

      Versatile Office, Shop & Tote Facility
      1501 Fairgrounds Rd, Midland, TX 79706
      View Details
    • Contact for pricing
      1 SF

      Midland, TX Industrial Flex Space

      Modern Flex Space, Build-to-Suit Available
      2319 County Road 155, Midland, TX 79706
      View Details
    • $1,500,000
      11,120 SF

      Industrial Property with Fenced Yard

      11,120 SF industrial property on 4.01 acres for sale.
      6600 Highway 80 W, Midland, TX 79706
      View Details
    • $1,662,500
      8,750 SF

      Midland Office/Warehouse on 2.75 Acres

      New 8,750 SF office/warehouse with heavy-duty shop setup.
      5620 Fm 1788, Midland, TX 79706
      View Details
    • $625,000
      4,800 SF

      Modernized Industrial/Commercial Space

      Updated flex space with bay doors on over an acre.
      6002 Hwy 349 S, Midland, TX 79706
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr
      20,894 SF

      Midland County Office Complex

      Versatile Office, Shop, & Storage
      1501 Fairgrounds Rd, Midland, TX 79706
      View Details
    • Contact for pricing

      Crane Ready Warehouse For Lease

      7,500 SF warehouse with 1,800 SF office space.
      1901 S County Road 1150, Midland, TX 79706
      View Details
    • $5,800 /Mo
      5,017 SF

      Industrial Space with Crane Access

      Sublease opportunity with overhead crane, office, and yard space.
      7903 W Industrial Ave, Midland, TX 79706
      View Details
    • $24 SF/Yr
      5,000 SF

      Midland, TX Warehouse - 5,000 SF

      New 5,000 SF warehouse on 2.5 acres. Ideal for distribution.
      3106 County Road 153, Midland, TX 79706
      View Details
    • $18,500 /Mo
      9,500 SF

      Industrial Property on FM 1788

      9,500 SF industrial space on 6.025 acres for lease.
      5910 N Fm 1788, Midland, TX 79706
      View Details
    • $6,250 /Mo
      7,500 SF

      Insulated Buildings with Renovated Office

      7,500 SF insulated buildings with renovated office space for lease.
      3612 S County Road 1198, Midland, TX 79706
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    8119 Crk 62
    Midland, TX 79706
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.