New Industrial Space in
For Sale
Contact for pricing
Pending
5102 W County Road 128, Midland, TX 79706
7,750 SF industrial building on 2.5 acres for sale.
Property Size7,750 SF
Lot Size2.50 Acres
Days on Market809
Property Features for 5102 W County Road 128
General Information
Standard status
Pending
Size
7,750 SF
Lot size
2.50 Acres
Property subtype
Industrial
Building Details
Year Built
2024
Buildings
1
Stories
1
Listing Agency:
Moriah Real Estate Company, LLC
(432) 682-2510
Listed By:
Tommy Reynolds · License #Texas 716306
Source:
Crexi
Added: May 23, 2024
Changed: Aug 8
Last Checked: Aug 8 at 4:30AM
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 Real Estate Company, LLC
Investment Insights
Based on property information with market context.
This new construction property in Midland offers purchasing or leasing opportunities. The 7,750 SF building is situated on a 2.5-acre lot and includes 1,500 SF of office space, featuring five private offices, a conference room, and a kitchen. The warehouse component spans 5,000 SF, complemented by a 1,250 SF wash bay. The property is equipped with 3-Phase Power and utilizes a water well and septic system. Located outside city limits and without zoning restrictions in Midland County, this industrial space is positioned less than 1.5 miles southeast of the Loop 250 - I-20 intersection.
Key Highlights
- New 7,750 SF building on 2.5 acres, ideal for industrial use.
- Strategic location: Less than 1.5 miles from Loop 250 - I‑20 intersection.
- Includes 1,500 SF of office space with 5 private offices, conference room, and kitchen.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$93,744
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.47%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,874,880
$1.9M
Cap Rate 7%
$1,339,200
$1.3M
Cap Rate 9%
$1,041,600
$1.0M
Market Conditions
NOI Build-Up for 7,750 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$148.8K $19.20/SF
− Vacancy
−$23.8K −$3.07/SF
EGI
$125.0K $16.13/SF
− OpEx
−$31.2K −$4.03/SF
NOI
$93.7K $12.10/SF
Area
Midland, TX
Vacancy
16.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,874,880
Cap Rate 7%
$1,339,200
Cap Rate 9%
$1,041,600
Alternative Uses
Best Use
Office B
$1.34M
$1.17M – $1.56M
NOI $93,744 @ 7.0% cap · market cap 6.47%
Second Best
Warehouse
$1.21M
$1.06M – $1.41M
NOI $84,414 @ 7.0% cap · market cap 5.82%
Theoretical Best
Office A
$1.83M
$1.60M – $2.13M
NOI $127,968 @ 7.0% cap · market cap 8.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
87
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
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - 7,750 SF industrial building on 2.5 acres for sale.
Where is this flex space located?
The property is located at 5102 W County Road 128 Midland, TX.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: New 7,750 SF building on 2.5 acres, ideal for industrial use.; Strategic location: Less than 1.5 miles from Loop 250 - I‑20 intersection.; Includes **1,500 SF of office space** with 5 private offices, conference room, and kitchen.
