Flex Property with Highway
For Sale
$4,160,000
Tract 1 E IH-20, Midland, TX 79706
Office, shop, garage, and covered outdoor areas support a range of commercial functions.
Property Size17,805 SF
Lot Size18.00 Acres
Price / SF$233.64
Days on Market59
Property Features for Tract 1 E IH-20
General Information
Standard status
Active
Size
17,805 SF
Lot size
18.00 Acres
Property subtype
Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
2006
Buildings
1
Building Size
17,805 SF
Listing Agency:
Beyond Realty LLC
Listed By:
Pamela Mendoza · License #0705565
(432) 661-5505
Source:
Beyondrealtytexas.idxbroker
Added: Aug 17
Changed: Oct 10
Last Checked: Oct 12 at 4:45PM
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 Beyond Realty LLC
Investment Insights
Based on property information with market context.
This 18-acre flex property includes a 17,805-square-foot building completed in 2006. Approximately 12,000 square feet has heat and AC, while the balance consists of a carbarn, garage, shop, porches, and awnings. The improvements also include a home/office with interior finishes, appliances, and fixtures, plus a 1,500-square-foot solid concrete-cased safe room.
The tract provides 900 feet of frontage along I-20 and includes a 2/3-acre lake. Site features include Bermuda grass, sprinklers, and more than 300 trees estimated at 20–25 years old. The property is part of a 43.5-acre tract and is situated in an industrial area of the Permian Basin.
The tract provides 900 feet of frontage along I-20 and includes a 2/3-acre lake. Site features include Bermuda grass, sprinklers, and more than 300 trees estimated at 20–25 years old. The property is part of a 43.5-acre tract and is situated in an industrial area of the Permian Basin.
Key Highlights
- 18 acres within a 43.5‑acre tract
- 900' of I‑20 frontage
- 17,805‑square‑foot building built in 2006
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$215,369
Cap Rate
5.18%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,307,380
$4.3M
Cap Rate 7%
$3,076,700
$3.1M
Cap Rate 9%
$2,392,989
$2.4M
Market Conditions
NOI Build-Up for 17,805 SF
Gross rent
$341.9K $19.20/SF
− Vacancy
−$54.7K −$3.07/SF
EGI
$287.2K $16.13/SF
− OpEx
−$71.8K −$4.03/SF
NOI
$215.4K $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 Rate 5%
$4,307,380
Cap Rate 7%
$3,076,700
Cap Rate 9%
$2,392,989
Alternative Uses
Best Use
Office B
$3.08M
$2.69M – $3.59M
NOI $215,369 @ 7.0% cap · market cap 5.18%
Second Best
Warehouse
$2.77M
$2.42M – $3.23M
NOI $193,933 @ 7.0% cap · market cap 4.66%
Theoretical Best
Office A
$4.20M
$3.67M – $4.90M
NOI $293,996 @ 7.0% cap · market cap 7.07%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,246
Businesses Nearby
Under-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
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Similar Off Market Nearby
- Carter & Burgess Inc — 505 N Big Spring St, Midland, TX 79701
Frequently Asked Questions
What type of property is this?
Flex space - Office, shop, garage, and covered outdoor areas support a range of commercial functions.
Where is this flex space located?
The property is located at Tract 1 E IH-20 Midland, TX.
What is the asking price?
The asking price for this property is $4,160,000.
What are key features of this property?
This property features: 18 acres within a 43.5‑acre tract; 900' of I‑20 frontage; 17,805‑square‑foot building built in 2006
