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3800 S County Road 1232 55,472 SF Industrial Building Midland, TX 79706 $15,613,000 ($281.46/SF) 8.50% Cap Rate

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EXECUTIVE SUMMARY

• STRONG NATIONAL TENANT WITH GLOBAL BACKING – Oil Patch Group, Inc, is a long-standing provider of specialty rental equipment and field services for the U.S. oil and gas industry. The company operates under the brand Centurion US Rentals & Services, which represents the U.S. division of Centurion Group, a global leader in critical rental, infrastructure, and services across energy, industrial, and infrastructure markets with 89 facilities across 11 countries and over 2,400 employees.

• STRATEGIC PERMIAN BASIN LOCATION – The subject property is strategically located just off Interstate-20 (I-20), a major east-west interstate connecting from Interstate 10 (I-10) in Midland/Odessa to key energy and industrial markets such as Dallas, Atlanta, and beyond, as well as lies just ±4 miles from Midland International Airport - offering direct access to the broader Permian Basin. As the epicenter of America’s most productive oil formation, Midland/Odessa serves as a vital hub for oilfield operations, providing unmatched access to drilling activity, skilled labor, and energy infrastructure. Additionally, the South County Road 1232 corridor is experiencing a surge in new industrial development and absorption due to significant infrastructure investment, including Loop 250 extensions and upgraded intersections.

• NEW CONSTRUCTION / FUNCTIONAL IOS – This newly developed site comprises of ±55,472 SF across four (4) warehouses on a huge ±33.375 AC lot (4% Building/Lot Coverage) allowing for abundant yard space for open storage and operating heavy infrastructure & fleet-based logistics - a critical advantage for infrastructure service providers operating in the Permian Basin. With three (3) cranes and Twenty-Eight (28) grade level doors, this is a mission-critical facility designed to support high-throughput industrial operations, equipment staging, and 24/7 field service mobilization.

• INCOME TAX FREE STATE – Texas benefits from no state income tax offering significant financial advantages for businesses and investors, enhancing profitability and making it an attractive location for long-term growth and investment.

PROPERTY FACTS

Price $15,613,000
Price Per SF $281.46
Sale Type Investment
Cap Rate 8.50%
Property Type Industrial
Property Subtype Manufacturing
Building Class B
Lot Size 33.38 AC
Rentable Building Area 55,472 SF
No. Stories 1
Year Built/Renovated 2020/2024
Tenancy Single
Clear Ceiling Height 22’
No. Dock-High Doors/Loading 28
No. Drive In / Grade-Level Doors 8

AMENITIES

  • Fenced Lot
  • Mezzanine
  • Yard

UTILITIES

  • Gas - Propane
  • Water - Well
  • Sewer - Septic Field
  • Heating - Gas

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
0004020.013.1070
Land Assessment
$459,000
Improvements Assessment
$2,748,390
Total Assessment
$3,207,390
  • Listing ID: 36950204

  • Date on Market: 7/28/2025

  • Last Updated:

  • Address: 3800 S County Road 1232, Midland, TX 79706

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