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
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2400 County Rd 123 Midland, TX 79706-6483

    • Industrial properties
    • 1,250 SF
    • 3.08 lot acres
    OFF-MARKET
    Last Sale
    May 16, 2024
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-9652062
    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

    • Genesis coustom chemical / Wholesaler

    Property Details for 2400 County Rd 123

    Year built
    2014
    Lot size
    3.08 lot acres
    Property size
    1,250 SF
    Property type
    Industrial properties
    APN
    R000208739
    APU
    R000208739

    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
    -102.028
    Latitude
    31.9633
    CBSA code
    33260
    CBSA name
    MIDLAND, TX METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $11,197
    $92,400
    $858,630
    $951,030
    -
    $92,400
    $858,630
    $951,030

    Comparable in this City

    • Value Estimation by Request
      5,000 SF

      3106 County Road 153

      Flex space • 5,000 SF
      3106 County Road 153, Midland, TX 79706
      View Details
    • Value Estimation by Request
      24,000 SF

      9817 Interstate 20

      Distribution properties • 24,000 SF
      9817 Interstate 20, Midland, TX 79706
      View Details
    • Value Estimation by Request
      20,894 SF

      1501 Fairgrounds Rd

      Distribution properties • 20,894 SF
      1501 Fairgrounds Rd, Midland, TX 79706
      View Details
    • Value Estimation by Request
      7,750 SF

      5102 County Road 128

      Distribution properties • 7,750 SF
      5102 County Road 128, Odessa, TX 79706
      View Details
    • Value Estimation by Request

      1130 & Fm 307

      Land
      1130 & Fm 307, Midland, TX 79706
      View Details
    • Value Estimation by Request
      18.23 Acres

      2566 County Road 123

      Land • 18.23 Acres
      2566 County Road 123, Midland, TX 79706
      View Details

    Similar Nearby for Sale

    • $1,450,000
      18,504 SF

      Midland Warehouse Investment Opportunity

      High-traffic industrial warehouse for sale.
      1502 Loop 250, Midland, TX 79706
      View Details
    • $2,000,000
      39.99 Acres

      Midland, TX Commercial Land

      ±40 Acres, Ready to Develop
      0 Tbd Fm 307, Midland, TX 79706
      View Details
    • Contact for pricing
      1 SF

      Midland, TX Industrial Flex Space

      Modern Flex Space, Build-to-Suit Available
      2319 County Road 155, Midland, TX 79706
      View Details
    • $6,200,000

      Permian Basin Industrial Investment Opportunity

      21.698-acre industrial tract with multiple buildings and NNN leases.
      931 E County Road 140, Midland, TX 79706
      View Details
    • $275,000
      2.00 Acres

      Unrestricted Land with Insulated Shop

      Unrestricted 2-acre property with 1,600 sq ft insulated shop.
      6300 Fm 1213, Midland, TX 79706
      View Details
    • Contact for pricing

      20 Acres Industrial Land Available

      20 acres of industrial land outside Midland city limits.
      1708 E County Road 130, Midland, TX 79706
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      215,186 SF

      Midland, TX Build-to-Suit Lots

      3-5 acre lots, prime Midland location.
      1130 & Fm 307, Midland, TX 79706
      View Details
    • $18 SF/Yr
      10,000 SF

      Industrial Building with Caliche Yard

      10,000 SF industrial building with a 4.00 AC yard.
      2401 E County Road 155, Midland, TX 79706
      View Details
    • $18 SF/Yr
      5,000 SF

      Warehouse with Apartment Loft

      5,000 SF warehouse featuring an apartment loft.
      4800 East County Road 128, Midland, TX 79706
      View Details
    • $20,000 /Mo
      22,500 SF

      Industrial Property with Crane and Shop

      22,500 SF industrial space with office, shop, and cranes.
      2108 E County Road 120, Midland, TX 79706
      View Details
    • $24 SF/Yr
      5,000 SF

      Midland, TX Warehouse - 5,000 SF

      New 5,000 SF warehouse on 2.5 acres. Ideal for distribution.
      3106 County Road 153, Midland, TX 79706
      View Details
    • Contact for pricing
      25,000 SF

      Midland, TX Industrial Build-to-Suit

      Prime 5-6 acre lots, custom warehouse space.
      1-6 Antelope Trl, Midland, TX 79706
      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.
    2400 County Rd 123
    Midland, TX 79706-6483
    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.