NNN Property
For Sale
$6,200,000
921 County Rd 140, Midland, TX 79706
Commercial Sale, Midland, TX
Property Size27,500 SF
Lot Size21.70 Acres
Price / SF$225.45
Days on Market48
Property Features for 921 County Rd 140
General Information
Property type
Commercial Sale
Property subtype
Other
Fencing
Fenced, Chain Link
Subdivision
MS2
Standard status
Active
APN
R000224346
Size
27,500 SF
Lot size
21.70 Acres
Taxes and HOA fees
Tax Annual Amount
40853
Utilities
Sewer type
Private Sewer
Water source
Well
Building Details
Year built
2021
Building materials
Metal Construction, Metal Siding
Roof type
Metal
Listing Agency:
The Real Estate Ranch LLC
(432) 688-8200
Listed By:
Thomas Johnston · License #542176
(512) 970-1610
Added: Aug 31
Changed: Oct 13
Last Checked: Oct 17 at 1:06PM
MLS# 158540
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.
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This NNN property portfolio comprises 27,500 square feet across several buildings on 21.698 acres. The buildings range from 5,000 to 7,500 square feet and were constructed in 2021 with metal construction, metal siding, and metal roofs. The site is fenced with chain-link fencing and served by a private well and private sewer. All buildings are fully leased under NNN lease structures.
The property is positioned in an industrial area with access to Highway 349 and I-20. Midland International Air and Space Port is approximately 20 minutes away, providing a direct connection for air travel. The large tract configuration, established building improvements, and existing leases define the offering.
The property is positioned in an industrial area with access to Highway 349 and I-20. Midland International Air and Space Port is approximately 20 minutes away, providing a direct connection for air travel. The large tract configuration, established building improvements, and existing leases define the offering.
Key Highlights
- 27,500 square feet of building area across several buildings
- 21.698‑acre tract with buildings ranging from 5,000 to 7,500 square feet
- Fully leased under NNN lease structures
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$246,673
Cap Rate
3.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,933,460
$4.9M
Cap Rate 7%
$3,523,900
$3.5M
Cap Rate 9%
$2,740,811
$2.7M
Market Conditions
NOI Build-Up for 27,500 SF
Gross rent
$372.9K $13.56/SF
− Vacancy
−$20.5K −$0.75/SF
EGI
$352.4K $12.81/SF
− OpEx
−$105.7K −$3.84/SF
NOI
$246.7K $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 Rate 5%
$4,933,460
Cap Rate 7%
$3,523,900
Cap Rate 9%
$2,740,811
Alternative Uses
Best Use
Industrial
$3.52M
$3.08M – $4.11M
NOI $246,673 @ 7.0% cap · market cap 3.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.49M
$5.68M – $7.57M
NOI $454,080 @ 7.0% cap · market cap 7.32%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
48
Businesses Nearby
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
Frequently Asked Questions
What type of property is this?
NNN property - Fully leased acreage with multiple metal buildings, private utilities, and access to Highway 349 and I-20.
Where is this nnn property located?
The property is located at 921 County Rd 140 Midland, TX.
What is the asking price?
The asking price for this property is $6,200,000.
What are key features of this property?
This property features: 27,500 square feet of building area across several buildings; 21.698‑acre tract with buildings ranging from 5,000 to 7,500 square feet; Fully leased under NNN lease structures
