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    2600 County Road 1242 Midland, TX 79706

    For Sale
    $13,000,000

    10-Unit Flex Space, High NOI

    Property size:
    82,994 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    367
    This exceptional 82,994-square-foot industrial flex property in Midland, Texas, presents a compelling value-add opportunity. Comprising ten buildings constructed between 2008 and 2013, the property boasts 100% occupancy and a strong net operating income (NOI) of $1,046,526, yielding an 8.05% capitalization rate. The asking price is $13,000,000. The property features a diverse tenant mix with short-term leases, offering significant potential for rental rate increases to current market levels of $18-$20 per square foot, fully NNN. Individual units range from 5,000 to 12,975 square feet, providing flexibility for various business needs. Amenities include a spacious caliche yard, ample parking, and high ceilings. Its strategic location near Business I-20 and the Tradewinds Blvd Corridor provides excellent visibility and access to major transportation routes, as well as nearby amenities. The property's current average lease rate is significantly below market, presenting a clear path to substantial NOI growth and increased property value. Utilities include public electricity, city sewer, and private water wells. This stabilized investment is ideal for an investor seeking immediate cash flow and significant upside potential through lease renewals and market rate adjustments. The property is situated at 2600 S County Rd 1242, Midland, TX 79706.

    Property Features for 2600 County Road 1242

    General Information

    Property type
    Flex space
    Square Feet
    82,994 SF

    Building Details

    Year Built
    2008
    Buildings
    10

    HighLights

    • $13,000,000 asking price.
    • $1,046,526 Net Operating Income (NOI).
    • 8.05% capitalization rate.
    • 100% occupancy.
    • 82,994 square feet of industrial/flex space in ten buildings.
    • Value‑add opportunity with below‑market rents and short‑term leases allowing for significant rent increases.
    Property Profile Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Realty agency Restaurant Spa & Massage Building Supply Auto Repair Shop Wholesale Shop Department Store Hotel & Motel HVAC Service Auto Parts Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Midland
    County
    Midland
    State
    Texas
    Longitude
    -102.159219
    Latitude
    31.9508331

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    FAQs

    What type of property is this?
    Flex space - 10-Unit Flex Space, High NOI
    Where is this flex space located?
    The property is located at 2600 County Road 1242 Midland, TX.
    What is the asking price?
    The asking price for this property is $13,000,000.
    What are key features of this property?
    This property features: $13,000,000 asking price.; $1,046,526 Net Operating Income (NOI).; 8.05% capitalization rate.
    Request Owner's contact information
    2600 County Road 1242 Midland, TX 79706
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    Midland, TX 79706
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    Realmo Value Estimation

    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.

    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.

    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
    2600 County Road 1242 Midland, TX 79706
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