Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    1008 Texas Ave Midland, TX 79701

    • Commercial real estate
    • 0.25 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-3674276
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Jenkins Construction Equipment Rental / Equipment Rental Agency

    Property Details for 1008 Texas Ave

    Lot size
    0.25 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 0.251-acre commercial land parcel presents a unique investment opportunity in the thriving city of Midland, Texas. Located at 1008 W Texas Ave, 79701, this property boasts a prime location surrounded by established professional offices and businesses, offering immediate access to a robust commercial environment. Its proximity to downtown Midland ensures high visibility and convenient access to a wide range of amenities and services. The site itself is characterized by attractive surroundings, enhancing its appeal and potential for development. The property has been completely gutted, providing a blank canvas for a diverse range of development projects. Versatile zoning allows for considerable flexibility in project planning, catering to various commercial uses. Furthermore, essential utilities are readily available on-site, simplifying the development process and minimizing upfront costs. This exceptional location, combined with the property's cleared state and versatile zoning, makes it an ideal investment for developers seeking a strategic foothold in Midland's dynamic commercial landscape. The asking price for this remarkable opportunity is $196,804.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Midland
    County
    Midland
    State
    Texas
    Longitude
    -102.085659
    Latitude
    31.997939

    Comparable in this City

    • $499,000
      0.60 Acres

      Midland Commercial Land - High Traffic

      Prime commercial lot, high visibility, ideal for QSR.
      417 Golf Course Rd, Midland, TX 79701
      View Details
    • $400,000
      0.23 Acres

      Midland Commercial Land - $400K

      Prime 0.23-acre commercial lot, seller financing.
      2407 Camp Dr, Midland, TX 79701
      View Details
    • $350,000
      0.24 Acres

      Midland Office Land: Build Your Dream

      Prime 0.24-acre office lot in Midland, TX.
      1011 Texas Ave, Midland, TX 79701
      View Details
    • $1,200,000
      2.28 Acres

      Midland Industrial Land Investment

      2.276 Acres, High-Traffic Location
      1506 Garden City Hwy, Midland, TX 79701
      View Details
    • $1,581,881

      Land Available in Midland, Texas

      Land for sale at 900 E Interstate 20, Midland, TX.
      900 E Interstate 20, Midland, TX 79701
      View Details
    • Contact for pricing

      7.296 Acres on Front Street

      7.296 acres available on Front Street in Midland, TX.
      3105 W Front St, Midland, TX 79701
      View Details

    Similar Nearby for Sale

    • $2,000,000
      4.70 Acres

      Midland, TX Commercial Land

      Prime 4.7-acre commercial lot, high traffic.
      1511 Front St, Midland, TX 79701
      View Details
    • Contact for pricing
      25.00 Acres

      Fuse Industrial Park: Midland, TX

      25 Acres Industrial Land for Sale
      0 Indiana Ave At Fairgrounds Rd, Midland, TX 79701
      View Details
    • Contact for pricing
      1.19 Acres

      Midland, TX Commercial Land Parcel

      1.19 Acres, Prime Commercial Site
      2313 Missouri Ave, Midland, TX 79701
      View Details
    • Contact for pricing
      0.22 Acres

      Midland Commercial Land - $20k

      0.22-acre commercial lot, prime Midland location.
      22 Pennsylvania Ave & S Carver St, Midland, TX 79701
      View Details
    • $100,000
      0.26 Acres

      Corner Lot in Midland, TX

      Commercial land for sale in Midland, TX.
      510 S Colorado St, Midland, TX 79701
      View Details
    • $400,000

      Land For Sale

      0.23 +/- AC land in high-traffic area.
      2407 Camp Dr, Midland, TX 79701
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      6,000 SF

      Midland Retail Center Redevelopment

      Prime Midland Retail Space Available
      2301 Wall St, Midland, TX 79701
      View Details
    • Contact for pricing

      Prime Retail Pad Sites

      Commercial pad sites in high-traffic Midland location.
      6101 Andrews Hwy, Midland, TX 79701
      View Details
    • Contact for pricing

      Downtown Midland Commercial Land For Rent

      0.48 acre lot in Midland's Central Business District.
      601 W Missouri Ave, Midland, TX 79701
      View Details
    • $25 SF/Yr
      5,400 SF

      Rankin Hwy Office Space

      Midland, TX Office Suites Available
      1410 Rankin Hwy, Midland, TX 79701
      View Details
    • $19 SF/Yr
      77,868 SF

      Downtown Midland Office Space Available

      Five-story office tower in Midland's central business district.
      110 W Louisiana Ave, Midland, TX 79701
      View Details
    • $21 SF/Yr
      9,157 SF

      Downtown Midland Office Space Available

      Prime office building in Midland's Downtown Business District.
      600 N Marienfeld St, 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.
    1008 Texas 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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.