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    13021 County Road 91 Midland, TX 79707

    Sponsored
    For Lease
    $16 SF/Yr ($12,000 /Mo)

    7-Acre Industrial Property; Tenant in Place

    Lot size:
    9,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    420
    This exceptional 9,000-square-foot flex space property presents a compelling investment opportunity. Situated on a generous 7.12-acre lot, this single-tenant building offers a strategic location between Midland and Odessa, providing easy access via the TX-191 corridor. Built in 2013, the property boasts a versatile layout ideal for a variety of industrial uses. The building comprises 1,250 square feet of well-appointed office space and a substantial 7,750 square feet of shop space, perfectly suited for operations requiring ample room and functionality. Five large overhead doors facilitate efficient loading and unloading, enhancing operational efficiency. The property is currently occupied by a tenant, ensuring a steady income stream, with availability commencing January 1, 2024. This combination of size, location, and existing tenancy makes this property a highly attractive proposition for discerning investors seeking a strong return on investment in the thriving Midland/Odessa market. The property's ample acreage also offers significant potential for future expansion or development. This is a rare opportunity to acquire a well-maintained, strategically located industrial property with a proven track record.

    Property Features for 13021 County Road 91

    General Information

    Property type
    Flex space
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    9,000 SF
    Total Rate
    12000

    Building Details

    Year Built
    2013
    Buildings
    1

    Unit(s) available at that property

    Space
    Size
    9,000 SF
    Rate per SF
    $16

    We can help!

    Listing Contact
    Cameron Willmann
    Cameron Willmann

    Learn more

    Property Insight Report

    HighLights

    • 9,000 SF flex industrial building ideal for diverse uses.
    • Convenient Midland/Odessa location, accessible from TX‑191.
    • 1,250 SF of office space and 7,750 SF of shop space.
    • Five (5) overhead doors.
    • 7.12‑acre lot.
    Property Profile Location Intelligence

    Current Use by Public Records

    DFS Inspections Home Inspector

    Suggested Use

    Restaurant Building Supply Auto Repair Shop Auto Parts Store HVAC Service Discount Store Pet Store & Service Florist Butcher

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

    Location Insight

    • Map
    • Local Demand
    City
    Midland
    County
    Midland
    State
    Texas
    Longitude
    -102.2771025
    Latitude
    31.946248

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    FAQs

    What type of property is this?
    Flex space - 7-Acre Industrial Property; Tenant in Place
    Where is this flex space located?
    The property is located at 13021 County Road 91 Midland, TX.
    What is the lease rate?
    The lease rate is $16 SF/Yr.
    What are key features of this property?
    This property features: 9,000 SF flex industrial building ideal for diverse uses.; Convenient Midland/Odessa location, accessible from TX-191.; 1,250 SF of office space and 7,750 SF of shop space.
    Request Owner's contact information
    13021 County Road 91 Midland, TX 79707
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    Midland, TX 79707
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    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
    13021 County Road 91 Midland, TX 79707
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    We can help!
    Listing Contact
    Cameron Willmann
    Cameron Willmann
    Real Estate License ID: 0570055
    Learn more
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