2600 County Road 1242 Midland, TX 79706
- Industrial properties
- 82,994 SF
Current Use by Public Records
- Industrial properties
Property Details for 2600 County Road 1242
- Year built
- 2008
- Property size
- 82,994 SF
- Property type
- Industrial properties
- Property subtype
- Flex space
Description
This exceptional 82,994-square-foot industrial flex property in Midland, Texas, presents a compelling value-add opportunity. Comprising ten buildings constructed between 2008 and 2013, the property boasts 100% occupancy and a strong net operating income (NOI) of $1,046,526, yielding an 8.05% capitalization rate. The asking price is $13,000,000. The property features a diverse tenant mix with short-term leases, offering significant potential for rental rate increases to current market levels of $18-$20 per square foot, fully NNN. Individual units range from 5,000 to 12,975 square feet, providing flexibility for various business needs. Amenities include a spacious caliche yard, ample parking, and high ceilings. Its strategic location near Business I-20 and the Tradewinds Blvd Corridor provides excellent visibility and access to major transportation routes, as well as nearby amenities. The property's current average lease rate is significantly below market, presenting a clear path to substantial NOI growth and increased property value. Utilities include public electricity, city sewer, and private water wells. This stabilized investment is ideal for an investor seeking immediate cash flow and significant upside potential through lease renewals and market rate adjustments. The property is situated at 2600 S County Rd 1242, Midland, TX 79706.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Midland
- County
- Midland
- State
- Texas
- Longitude
- -102.159
- Latitude
- 31.9508
