Flex Space with Shop and
New
For Sale
$1,200,000
9807 FM 307, Midland, TX 79706
Commercial Sale, Midland, TX
Property Size6,250 SF
Lot Size4.92 Acres
Price / SF$192
Days on Market5
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
Additional Details
Property Use
Shop/Office
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
Building Details
Year built
2019
Buildings
1
Listing Agency:
Real Estate One - Kelvie Cleverdon
(432) 682-1111
Listed By:
Patti Hollums. ABR. SRS
(432) 770-3073
Added: Oct 26
Last Checked: Oct 30 at 11:06PM
MLS# 50099282
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 6,250-square-foot flex property combines office space with a substantial shop area on 4.92 acres. The office includes five offices, a foyer and reception area, a kitchenette, and two bathrooms. Shop features include seven overhead doors, three pull-through bays with 18-foot doors, 12-foot interior liner panels, a separate bathroom, and three walk-through doors. The building also has three-phase power, a secured cage with overhead storage, and a security system. Built in 2019, the property offers a practical mix of workspace and shop functionality.
Located off FM 307 in Midland, the property is described as being in a developing industrial area and having access to highways.
Located off FM 307 in Midland, the property is described as being in a developing industrial area and having access to highways.
Key Highlights
- 6,250‑square‑foot flex property on 4.92 acres
- Five offices, reception area, kitchenette, and two bathrooms
- Seven overhead doors, including three pull‑through bays
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$68,075
Cap Rate
5.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,361,500
$1.4M
Cap Rate 7%
$972,500
$972.5K
Cap Rate 9%
$756,389
$756.4K
Market Conditions
NOI Build-Up for 6,250 SF
Gross rent
$84.8K $13.56/SF
− Vacancy
−$4.7K −$0.75/SF
EGI
$80.1K $12.81/SF
− OpEx
−$12.0K −$1.92/SF
NOI
$68.1K $10.89/SF
Area
Midland, TX
Vacancy
5.50%
Lease Rate
$13.56 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,361,500
Cap Rate 7%
$972,500
Cap Rate 9%
$756,389
Alternative Uses
Best Use
Warehouse
$972.5K
$850.9K – $1.13M
NOI $68,075 @ 7.0% cap · market cap 5.67%
Second Best
Industrial
$800.9K
$700.8K – $934.4K
NOI $56,062 @ 7.0% cap · market cap 4.67%
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.
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
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
Check the figures for this property
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Market
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Flex space - A combined office and shop layout includes multiple private offices, pull-through bays, and three-phase power.
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‑square‑foot flex property on 4.92 acres; Five offices, reception area, kitchenette, and two bathrooms; Seven overhead doors, including three pull‑through bays
