Flex Building With
For Sale
$1,200,000
9807 FM 307, Midland, TX 79706
COMMERCIAL - Midland, TX
Property Size6,250 SF
Lot Size4.92 Acres
Price / SF$192
Days on Market156
Property Features for 9807 FM 307
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
37-T1S
Standard status
Active
Size
6,250 SF
Lot size
4.92 Acres
Taxes and HOA fees
Tax Description
SEC 44, BLK 37, T1S, T&P RR CO SURV
Legal Description
SEC 44, BLK 37, T1S, T&P RR CO SURV
Amenities
5 upscale offices
H/H bathrooms
foyer/reception
kitchenette
7 overhead doors
3 pull through bays
18' doors
12' liner panels
shop bathroom
3 walk through doors
3 phase
locking cage with overhead storage
security system
Building Details
Year built
2019
Listing Agency:
Real Estate One - Kelvie Cleverdon
(432) 682-1111
Listed By:
Patti Hollums. ABR. SRS
(432) 770-3073
Added: Mar 27
Changed: Aug 4
Last Checked: Aug 29 at 7:06PM
MLS# 50093880
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.
Investment Insights
Based on property information with market context.
Built in 2019, this 6,250-square-foot flex property combines a finished office component with an industrial shop. The office layout includes five offices, H/H bathrooms, a foyer and reception area, and a kitchenette. Shop improvements include seven overhead doors, three pull-through bays, 18-foot doors, 12-foot liner panels, a shop bathroom, and three walk-through doors.
The property occupies 4.92 acres in a developing industrial area near FM 307 in Midland, Texas. Additional features include three-phase power, a locking cage with overhead storage, and a security system. The site also provides access to highways, supporting a range of office, service, and industrial operations.
The property occupies 4.92 acres in a developing industrial area near FM 307 in Midland, Texas. Additional features include three-phase power, a locking cage with overhead storage, and a security system. The site also provides access to highways, supporting a range of office, service, and industrial operations.
Key Highlights
- 6,250 SF flex property on 4.92 acres
- Office area includes 5 offices, H/H bathrooms, reception, foyer, and kitchenette
- Shop features 7 overhead doors, including 3 pull‑through bays
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
$75,600
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
6.30%
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%
$1,512,000
$1.5M
Cap Rate 7%
$1,080,000
$1.1M
Cap Rate 9%
$840,000
$840.0K
Market Conditions
NOI Build-Up for 6,250 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
$120.0K $19.20/SF
− Vacancy
−$19.2K −$3.07/SF
EGI
$100.8K $16.13/SF
− OpEx
−$25.2K −$4.03/SF
NOI
$75.6K $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%
$1,512,000
Cap Rate 7%
$1,080,000
Cap Rate 9%
$840,000
Alternative Uses
Best Use
Office B
$1.08M
$945.0K – $1.26M
NOI $75,600 @ 7.0% cap · market cap 6.30%
Second Best
Warehouse
$972.5K
$850.9K – $1.13M
NOI $68,075 @ 7.0% cap · market cap 5.67%
Theoretical Best
Office A
$1.47M
$1.29M – $1.72M
NOI $103,200 @ 7.0% cap · market cap 8.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
7
Drive-in doors
5
Office units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
48
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
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Frequently Asked Questions
What type of property is this?
Flex space - 2019 flex property combining finished office areas with a specialized industrial shop and multiple overhead doors.
Where is this flex space located?
The property is located at 9807 FM 307 Midland, TX.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 6,250 SF flex property on 4.92 acres; Office area includes 5 offices, H/H bathrooms, reception, foyer, and kitchenette; Shop features 7 overhead doors, including 3 pull‑through bays
