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Property profile & analytics
OFF-MARKET
Estimated value
$780,000
Industrial properties
2405 County Rd 120 Midland, TX 79706
Individually Owned
14-yr Hold
Free & Clear
Property ID
US82-8406954
Property profile
Verified
Property type
Industrial properties
Use group
REFINERY, PETROLEUM PRODUCTS
Year built
2014
Total area
10,000 SF
Lot
10.01 ac (436,036 SF)
APN
R000003584
UPID
US82-8406954
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$645k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$908k
Blend (final)
Blend
$780k
Owner & transaction history
Kent Steve SR. · 14 yrs held
Kent Steve SR.
since 2012
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$985,000
+56.4%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Midland submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Midland submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
$645,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MINING, MINERAL, QUARRIES
$630,000
Current use
COMMERCIAL (GENERAL)
$985,000
Change: +56% · Conversion: Difficult
Blend value · Realmo final
$780k
Range $702k – $858k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$78 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$40,274
Tax year 2023
Assessed value
$3,420,600
Assessed 2023
Previous assessed
$3,420,600
+0.0% YoY
Effective rate
1.18%
On assessed value
Assessed land
$170,170
Assessed improvement
$3,250,430
Land market value
$170,170
Improvement market value
$3,250,430
Total market value
$3,420,600
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Industrial properties
Use group
REFINERY, PETROLEUM PRODUCTS
Status
Off-Market
Year built
2014
Heating
NONE
Buildings
5
Total area
10,000 SF
Lot
10.01 ac (436,036 SF)
APN
R000003584
UPID
US82-8406954
Jurisdiction
MIDLAND
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
MINING, MINERAL, QUARRIES Current
Est. value
$630,000
COMMERCIAL (GENERAL)
Est. value
$985,000
MINING, MINERAL, QUARRIES Current
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2014
Heating
NONE
Buildings
5
Lot
10.01 ac
Current owner
From public records · entity-resolved
Kent Steve SR.
Individual
Free & Clear · 14 yrs held
Mailing address
PO BOX 1535, MIDLAND, TX 79702-1535
Ownership since
2012
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 25, 2013
—
Panther Services LLC
—
Trustees Deed
related
$1,156,120 · Western National Bank
May 23, 2012
—
Kent Steve SR.
Montevallo INC
Warranty Deed
related
—
Mar 9, 2012
—
Montevallo INC
Anderson,george V JR & Diann
Warranty Deed
related
—
—
—
George V Anderson JR.
—
Deed Of Trust
related
$58,038 · Commercial State Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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