Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    3209 Franklin Ave Midland, TX 79701
    Back to Search
    Property profile & analytics

    3209 Franklin Ave Midland, TX 79701

    View on Map
    • Warehouses
    • 7,200 SF
    • 0.48 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Warehouses

    Property Details for 3209 Franklin Ave

    Year built
    1995
    Lot size
    0.48 lot acres
    Property size
    7,200 SF
    Property type
    Warehouses
    Property subtype
    Industrial properties

    Description

    This exceptional 7,200-square-foot warehouse, situated on a 0.482-acre lot in Midland, Texas, presents a compelling owner-user or investment opportunity. Priced at $828,000 ($115/sq ft), this property boasts a prime location near downtown Midland, offering convenient access to major transportation routes. Built in 1995, the building features two 14' x 14' overhead doors, providing ample access for loading and unloading. The high ceilings (18' eaves, 20' overall) offer significant storage capacity. The functional layout includes 250 square feet of office space, complete with a private office and two bathrooms (one with a shower). City utilities are readily available, and the property is zoned for commercial use. The warehouse is currently vacant and available for immediate occupancy. Pallet racks are included in the sale price. Lease-to-own options are available, allowing for rental credit towards the purchase price with a long-term lease agreement. This property is zoned for Commercial and Regional Retail use. The property's dimensions are 120' x 60'.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Midland
    County
    Midland
    State
    Texas
    Longitude
    -102.111
    Latitude
    31.9831

    Comparable in this City

    • Value Estimation by Request
      7,200 SF

      3209 Franklin Ave

      Flex space • 7,200 SF
      3209 Franklin Ave, Midland, TX 79701
      View Details
    • Value Estimation by Request
      3,200 SF

      3111 Industrial Ave

      Flex space • 3,200 SF
      3111 Industrial Ave, Midland, TX 79701
      View Details
    • Value Estimation by Request
      6,500 SF

      700 Fairgrounds Rd

      Distribution properties • 6,500 SF
      700 Fairgrounds Rd, Midland, TX 79701
      View Details
    • Value Estimation by Request
      30,625 SF

      3301 Bankhead Hwy

      Distribution properties • 30,625 SF
      3301 Bankhead Hwy, Midland, TX 79701
      View Details
    • Value Estimation by Request
      2,400 SF

      810 Kentucky Ave

      Distribution properties • 2,400 SF
      810 Kentucky Ave, Midland, TX 79701
      View Details
    • Value Estimation by Request
      17,278 SF

      3415 Wall St

      Distribution properties • 17,278 SF
      3415 Wall St, Midland, TX 79701
      View Details

    Similar Nearby for Sale

    • $4,050,000
      23,054 SF

      Midland Warehouse and Office Facility

      23,054 SF warehouse and office on 9.8 acres.
      3016 S Lamesa Rd, Midland, TX 79701
      View Details
    • $450,000
      3,200 SF

      Midland Commercial Property For Sale

      3,200 SF commercial building with office and gated yard.
      1609 E Taylor Ave, Midland, TX 79701
      View Details
    • $1,499,999
      17,678 SF

      Midland Commercial Property on 2.81 Acres

      17,678 SF commercial property on 2.81 acres in Midland, TX.
      1506 E New Jersey Ave, Midland, TX 79701
      View Details
    • Contact for pricing
      204,277 SF

      Midland Industrial Warehouse Opportunity

      Multi-tenant industrial property in established West Texas industrial corridor.
      2703 W Industrial Ave, Midland, TX 79701
      View Details
    • $775,000
      6,720 SF

      Midland Flex Space For Sale

      6,720 SF flex space in Midland, Texas.
      2308 W Front St, Midland, TX 79701
      View Details
    • $1,350,000
      11,400 SF

      Midland Commercial Property with Shop

      Downtown Midland commercial property featuring office, shop, and storage space.
      308 E Louisiana Ave, Midland, TX 79701
      View Details

    Similar Nearby for Lease

    • $17 SF/Yr
      11,250 SF

      Office/Warehouse with Crane and Wash

      11,250 SF office/warehouse with crane, wash bay, and fenced yard.
      1160 Community Ln, Midland, TX 79701
      View Details
    • $1.00 SF/Yr
      4,800 SF

      Flex Space with Office/Warehouse

      4,800 SF flex space featuring office and warehouse components.
      311 E Illinois Ave, Midland, TX 79701
      View Details
    • Contact for pricing

      Functional Industrial Property in Midland

      Two-building industrial property with flexible warehouse and office space.
      3115 W Francis Ave, Midland, TX 79701
      View Details
    • Contact for pricing
      8,100 SF

      Industrial Facility with Secured Yard

      8,100 SF industrial facility with 2.49 acre secured yard.
      3430 W Gist Ave, Midland, TX 79701
      View Details
    • Contact for pricing

      Freestanding Office Building For Lease

      Freestanding office building with secured yard on West I-20.
      3305 I-20, Midland, TX 79701
      View Details
    • Contact for pricing

      Retail Space Available For Rent

      Retail space available, offering 1,200 SqFt in Midland, TX.
      3205 W Cuthbert Ave, Midland, TX 79701
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3209 Franklin Ave
    Midland, TX 79701
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    3209 Franklin Ave, Midland, TX, 79701
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!