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

    2808 Wright Dr Midland, TX 79706

    • Industrial properties
    • 7,500 SF
    • 2.10 lot acres
    OFF-MARKET
    Value Estimations
    $525,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-9707529
    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

    • Industrial properties

    Property Details for 2808 Wright Dr

    Year built
    2013
    Lot size
    2.10 lot acres
    Property size
    7,500 SF
    Property type
    Industrial properties
    APN
    R000209601
    APU
    R000209601

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $445,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $610,000
      Market price range: $325k - $681k

    • Alternative Use

      Use
      Estimation
      MINING, MINERAL, QUARRIES
      $470,000
      Current use
      COMMERCIAL (GENERAL)
      $740,000
      Change: +56% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Midland
    County
    Midland
    State
    Texas
    Longitude
    -102.215
    Latitude
    31.9309
    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
    $16,082
    $274,430
    $1,126,530
    $1,400,960
    -
    $274,430
    $1,126,530
    $1,400,960

    Comparable in this City

    • 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

      1130 & Fm 307

      Land
      1130 & Fm 307, Midland, TX 79706
      View Details
    • 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
      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
      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
      7,750 SF

      Midland Industrial Warehouse For Sale

      7,750 SF Warehouse, 2.5 Acres, New Construction
      5102 County Road 128, Odessa, TX 79706
      View Details
    • $1,300,000
      2,500 SF

      Midland Industrial Property with Shop

      Commercial property on almost 4 acres with shop.
      2312 W County Road 142, Midland, TX 79706
      View Details
    • $13,000,000
      82,994 SF

      Midland Industrial Portfolio

      10-Unit Flex Space, High NOI
      2600 County Road 1242, Midland, TX 79706
      View Details
    • $4,050,000
      14,580 SF

      Midland Industrial Property for Sale

      Industrial property in Midland, Texas, with strategic market position.
      6206 S County Road 1270, Midland, TX 79706
      View Details
    • $350,000
      2,600 SF

      Industrial/Commercial Property in Midland, TX

      Versatile industrial/commercial shop in a prime West Texas location.
      S County Road 1160, Midland, TX 79706
      View Details
    • $350,000
      2,600 SF

      Midland Industrial/Commercial Opportunity

      2,600 SF industrial/commercial property on 2.5 acres in Midland.
      S County Road 1160, 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
    • Contact for pricing
      27,488 SF

      Midland, TX Industrial Warehouse

      27,488 SF Shop, 6 Acres, Wash Bay
      3707 County Road 1210, Midland, TX 79706
      View Details
    • $17 SF/Yr
      11,250 SF

      Brand New Midland Industrial Space

      11,250 SF Office/Warehouse, 3.82 Acres
      2998 County Road 130, Midland, TX 79706
      View Details
    • $18,000 /Mo
      13,905 SF

      Industrial Building with Crane and Wash-Bay

      13,905 SF industrial building with crane and wash-bay available for sublease.
      3710 S County Road 1276, Midland, TX 79706
      View Details
    • $17 SF/Yr

      New Industrial Space, Midland, TX

      New construction industrial space with perimeter fencing, convenient location.
      5209 S County Road 1183, Midland, TX 79706
      View Details
    • $18 SF/Yr
      20,894 SF

      Midland County Office Complex

      Versatile Office, Shop, & Storage
      1501 Fairgrounds Rd, 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.
    2808 Wright Dr
    Midland, TX 79706
    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.