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3900 N FM 1788

6.1 - 93.81 Acre Agricultural Land Lots Offered at $2,135,000 - $4,502,880 Per Lot in Midland, TX 79707

Virtual Tour

Investment Highlights

  • One-of-a-kind mixed-use development opportunity on 161 acres of land capable of producing 45,000 barrels of fresh water daily.
  • Benefit from high visibility with over 100 feet of FM 1788 and SH 349 frontage, with a daily traffic count of 25,000 vehicles daily.
  • 55-acre developed caliche reserve with an estimated 3.1 million tons of TXDOT spec material sits on the lot for heavy highway work.
  • 40 producing water wells were placed in service in 2019, with a hydrology report confirming an annual capability of 17.5 to 21 million barrels.
  • Experience single primary meter electricity with no delivery charges and access to the City of Midland Water Line along the property line.
  • Centrally positioned between Midland and Odessa, just a short drive to the Midland International Airport, Zoo, and nearby amenities.

Executive Summary

3900 N FM 1788 offers a prime development opportunity in Midland, Texas. This expansive 161-acre parcel features a substantial 55-acre caliche pit housing around 3.1 million tons of TXDOT spec material, along with an impressive array of 40 water wells capable of yielding 45,000 barrels of fresh water daily. Additionally, this lot operates on its own primary electric meter, eliminating delivery charges. Plus, it has access to the City of Midland Water Line along the property line.

Representing the exceptional prospect for commercial, residential, or industrial development, this attractive asset has the added benefit of potential revenue streams from water and caliche sales. This site boasts 12 acres of prime frontage along FM 1788 and SH 349 which is often frequented by a daily traffic count of 20,000 to 25,000 cars. Positioned as one of the only scarce large tracts available in the vicinity, this commercial land stands ripe for development.

Strategically situated between Midland and Odessa, beyond both city limits, the property sits a mere four miles from both the Midland International Air & Space Port and the forthcoming Zoo Midland (anticipated opening in mid-2027). The offering's proximity to these key landmarks makes it ideally suited for a range of ventures, including restaurants, hotels, retail outlets, residential complexes, commercial enterprises, or light industrial projects.

Property Facts

Price $2,135,000 - $11,604,380
Sale Type Investment
Sale Conditions 1031 Exchange
No. Lots 4
Property Type Land
Property Subtype Agricultural
Total Lot Size 161.69 AC

4 Lots Available

Lot 1

Price $2,166,500
Price Per AC $350,000.00
Lot Size 6.19 AC

Experience the rare, FM 1788 frontage at Lot 1. This site is 6.19 acres and has 530 feet of frontage and is 560 feet deep. This location coupled with the high daily traffic count and lack of restaurants in the area would be perfect for fast food.

Lot 2

Price $2,135,000
Price Per AC $350,000.00
Lot Size 6.10 AC

Don't miss out on the rare, FM 1788 commercial frontage at Lot 2. This 6.1-acre lot has 470 feet of frontage and 600-foot depth. This location has a high daily traffic count and a city water main on the south line.

Lot 3

Price $4,502,880
Price Per AC $48,000.00
Lot Size 93.81 AC

Perfect for commercial, residential, or mixed-use development, this site can be used for commercial water sales with over 50,000 barrels per day of production. This 2,970- by 1,347-foot lot has access to 440 volts of electricity and city water main.

Lot 4

Price $2,800,000
Price Per AC $50,368.77
Lot Size 55.59 AC

Lot 4 comprises the Caliche pit. This approximate 55-acre site offers 3.1M tons of TX-DOT spec material. Centrally located between Midland and Odessa where the material is in high demand. 440-volt electricity, city water main, shared road access.

Description

Tracts 1 & 2 boast 1,000 feet of frontage along FM 1788 and SH 349, with approximately 12 prime commercial acres, benefiting from a daily traffic count of 25,000 vehicles. Tract 3 features 40 producing water wells, most of which were drilled and placed in service between 2017 and 2019. Production tests indicate a daily capacity of 45,000+ barrels, supported by a hydrology report confirming an annual capability of 17.5 to 21 million barrels. Additionally, the property includes 575,000 barrels of water storage, with water delivered to pits and neighboring sites via flat line delivery systems. Electricity is supplied via a single primary meter with overhead lines owned by the landowner, eliminating delivery charges. Hydrology report and other supporting documentation are available upon request.

Nearby Amenities

Hotels

La Quinta Inns & Suites
103 rooms
9 min drive
Best Western Plus
76 rooms
10 min drive
Candlewood Suites
113 rooms
10 min drive

zoning

Zoning Code None (No Zoning)
None (No Zoning)

Sale Advisor

Sale Advisor

(254) 965-4040
Contact
Brent Graves, Auctioneer/Broker
(254) 965-4040
Contact
A childhood dream was realized when Brent Graves attended auction school. As a young boy growing up in North Texas, it was more common to find Brent at a cattle auction, equipment auction, or estate auction. The rhythmic chant of the auctioneer and the control they maintained over the sales process was intriguing to a young boy learning about the world long before the internet. “Growing up, our family attended a good number of registered cattle auctions conducted by the late Col. Eddie Wood, I wanted to be just like him. Col. Wood always wore a starched white shirt and blue jeans, he was admired by sellers and buyers alike. He would take command of the auction block and sell for hours without a break. He made it look easy.”

After attending Texas Tech University, Brent entered corporate America for a few years before attending auction school. “I left auction school in May and quit my full-time corporate job in July to become an auctioneer, it’s all I could think about. I realized I could not give my employer 100%, and that wasn’t fair to them.” Brent went to work as many auctioneers do, contracting their services by the day. He worked for smaller regional auction firms for the experience and whatever they would pay. “I was very blessed early on to work for some of the undisputed best auctioneers in the world. The money wasn’t bad, but the experience was priceless.” As a contract auctioneer Brent began working the wholesale automobile auctions in west Texas and New Mexico, calling three auctions per week while working for other auctioneers on the weekends. “I enjoyed the experience of the wholesale auto auctions, it made me a better auctioneer for sure. I wanted to build an auction company and working three, sometimes four car auctions per week was not conducive to building an auction company."
  • Listing ID: 31558196

  • Date on Market: 4/19/2024

  • Last Updated:

  • Address: 3900 N FM 1788, Midland, TX 79707

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