NNN Property Portfolio with Multiple
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 Market142
Property Features for 921 County Rd 140
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
MS2
Standard status
Active
Size
27,500 SF
Lot size
21.70 Acres
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Description
21.698 acres out of Section 9, Block 39, T-2-S, T & P RR Co. Survey, Midland, County, TX
Legal Description
21.698 acres out of Section 9, Block 39, T-2-S, T & P RR Co. Survey, Midland, County, TX
Building Details
Year built
2024
Listing Agency:
The Real Estate Ranch LLC
Listed By:
Thomas Johnston ABR /CNHS · License #542176
(432) 688-8200
Added: Jun 10
Changed: Oct 26
Last Checked: Oct 29 at 5:06PM
MLS# 50095857
Copyright © 2026 Permian Basin 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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Investment Insights
Based on property information with market context.
This 21.698-acre NNN property portfolio contains 27,500 square feet across several buildings ranging from 5,000 to 7,500 square feet. Constructed in 2024, the improvements are subject to NNN leases, and the portfolio is fully leased. The large tract configuration provides substantial land area supporting the existing collection of buildings.
The property is located at 921 County Rd 140 in Midland, Texas, with access to Highway 349 and I-20. Midland International Air and Space Port is approximately 20 minutes away. The asset is situated within the Permian Basin and carries a reported CR of 8.5%.
The property is located at 921 County Rd 140 in Midland, Texas, with access to Highway 349 and I-20. Midland International Air and Space Port is approximately 20 minutes away. The asset is situated within the Permian Basin and carries a reported CR of 8.5%.
Key Highlights
- 21.698‑acre tract in Midland County
- 27,500 square feet across several buildings
- Buildings range from 5,000 to 7,500 square feet
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
Who owns this building?
See the owner, sales and loan history
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Current Use
Lease Details
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
57
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
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Market
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
NNN property - Fully leased NNN portfolio offering multiple buildings with regional highway connectivity and proximity to the airport.
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: 21.698‑acre tract in Midland County; 27,500 square feet across several buildings; Buildings range from 5,000 to 7,500 square feet
