Mixed-Use Property with Highway
For Sale
$4,160,000
Tract 1 E I-20, Midland, TX 79706
Versatile property combines a conditioned office component with garage, shop, storage, and covered outdoor areas.
Property Size17,805 SF
Price / SF$233.64
Days on Market87
Property Features for Tract 1 E I-20
General Information
Standard status
Active
Size
17,805 SF
Building Details
Year Built
2006
Listing Agency:
The Real Estate Ranch LLC
Listed By:
Thomas Johnston · License #542176
(432) 688-8200
Source:
Raftercrossrealty
Added: Aug 6
Changed: Oct 26
Last Checked: Oct 7 at 2:55PM
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 The Real Estate Ranch LLC
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This mixed-use property includes a 17,805-square-foot building constructed in 2006. Approximately 12,000 square feet is equipped with heat and air conditioning, while the balance provides a carbarn, garage, shop, porches, and awnings. The property also includes a home/office with finished interiors, appliances, and fixtures, along with a 1,500-square-foot solid concrete-cased safe room.
Tract 1 encompasses 18 acres within a 43.5-acre tract and offers 900 feet of frontage along I-20. The site overlooks a two-thirds-acre lake, adding a notable natural feature to the commercial property. The address is Tract 1 E I-20, Midland, TX 79706.
Tract 1 encompasses 18 acres within a 43.5-acre tract and offers 900 feet of frontage along I-20. The site overlooks a two-thirds-acre lake, adding a notable natural feature to the commercial property. The address is Tract 1 E I-20, Midland, TX 79706.
Key Highlights
- 18 acres within a 43.5‑acre tract
- 900 feet of I‑20 frontage
- 17,805‑square‑foot building constructed 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
Mixed Use
$3.04M
$2.66M – $3.54M
NOI $212,658 @ 7.0% cap · market cap 5.11%
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
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,246
Businesses Nearby
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
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Versatile property combines a conditioned office component with garage, shop, storage, and covered outdoor areas.
Where is this mixed-use property located?
The property is located at Tract 1 E I-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 feet of I‑20 frontage; 17,805‑square‑foot building constructed in 2006
