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    Property profile & analytics

    2503 County Road 123 Midland, TX 79706

    • Commercial real estate
    • 33.00 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-3375452
    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

    • Commercial real estate

    Property Details for 2503 County Road 123

    Lot size
    33.00 lot acres
    Property type
    Commercial real estate
    APN
    00003920.016.1000

    Description

    This exceptional 33-acre commercial land parcel in Midland, Texas, presents a unique investment opportunity. Located at 2503 W County Rd 123, Midland County, TX 79706 (APN: 00003920.016.1000), this raw land boasts over 2,000 feet of frontage along County Road 123, offering unparalleled visibility and accessibility. Its strategic position, just 1.28 miles south of Interstate 20 and a mere 5 miles from Midland International Airport, ensures exceptional connectivity for businesses. The property is ideally suited for industrial development, surrounded by existing industrial properties and conveniently located near RV parks, providing potential workforce accommodation solutions. The asking price is $825,000. Given the recent surge in industrial development in the immediate vicinity, this site represents a compelling investment for developers seeking a prime location with significant growth potential in a thriving industrial sector. The property's size and location make it an attractive prospect for large-scale industrial projects. This is a rare opportunity to acquire a substantial tract of land in a rapidly expanding area of Midland, Texas.

    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
    -102.0897045
    Latitude
    31.9481561

    Comparable in this City

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      Vacant Land in Midland, Texas

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      1 SF

      Prime Retail Development Opportunity

      Exceptional retail development opportunity in a thriving commercial hub.
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      Land Available for Build to Suit

      2-5 acre lots for sale or build to suit.
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    • $800,000
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      18 Acres in Greenwood ISD

      18 acres with RV park near Greenwood High School.
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    • $86,920
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      Acre Lot Near Midland, TX

      One-acre lot near Midland, TX, with flexible usage options.
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    Similar Nearby for Sale

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      4.26 acres of land suitable for mobile homes.
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    • $14,012,380
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    • $900,000

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      Midland Commercial/Industrial Opportunity

      Versatile industrial property on 3 acres in Midland's energy hub.
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      Midland, TX Commercial Land - $1.95M

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    • $100,000
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      Midland TX 1-Acre Home Development

      New 1-acre home development in Midland, modern farmhouse style.
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    Similar Nearby for Lease

    • $216 SF/Yr

      Midland, TX Commercial Land Opportunity

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    • $5,500 /Mo

      5.64 Acres of Fenced Land

      5.64 acres of fenced land available for rent.
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      Midland, TX Land Opportunity

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      Commercial Land Near Loop 250

      5.49 acres of land with easy Loop 250 access.
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      Proposed Office/Warehouse on 10 Acres

      Proposed 10,000 SF office/warehouse on 10 acres for rent.
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      Land For Lease Near IH-20

      Land with frontage on FM 715, south of IH-20.
      2014 E County Road 130, Midland, TX 79706
      View Details
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    2503 County Road 123
    Midland, TX 79706
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    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
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