Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Corner Lot Ready for Business Title is generated by Realmo AI

    501 Texas Ave, Midland, TX 79701

    View on Map
    Claim this Listing
    For Sale
    $500,000

    LAND - Midland, TX

    Lot size:
    0.32 Acres
    Added:
    Mar 24, 2026
    Days on Market:
    51
    Last Refresh:
    May 13 at 4:06 am

    Property Features for 501 Texas Ave

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    R000035222
    Lot size
    0.32 Acres

    Taxes and HOA fees

    Tax Annual Amount
    416

    Utilities

    Sewer type
    Public Sewer
    Water source
    Public

    We can help!

    Listing Contact
    Leo Salcido

    Listing agent Leo Salcido

    Listing office Black Orchid Real Estate, LLC 3204 Sunburst Dr, Midland, TX

    Listing date Mar 24, 2026

    MLS# 173403 Listing URL

    Copyright © 2026 Odessa Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Corner Lot Advantage
    • Ready for New Business
    • Close to Downtown
    • Accessible to Highway 80
    • Public Water Source
    • Public Sewer

    Overview

    This 0.321-acre corner lot is located in Midland, Texas, and is ready for new business development. The property is situated close to downtown and offers accessibility to Highway 80.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Coleman Robert B Law Firm

    Suggested Use

    Restaurant Real Estate Agency Building Supply Dental Office Spa & Massage Center Law Firm Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Midland
    County
    Midland
    State
    Texas
    Longitude
    -102.0691025
    Latitude
    31.9989851

    Nearby Similar for Sale

    • $871,500
      5,000 SF

      Highly Visible Midland Office Building

      Former state office with high visibility and traffic.
      3900 E Hwy 158, Midland, TX 79706
      View Details
    • $450,000
      3,200 SF

      Midland Commercial Property For Sale

      3,200 SF commercial building with office and gated yard.
      1609 E Taylor, Midland, TX 79701
      View Details
    • $489,000
      3,140 SF

      Midland Shop with Office Space

      Versatile shop with office near Interstate 20 in Midland.
      1317 W County Rd 114, Midland, TX 79706
      View Details
    • $675,000
      4,656 SF

      Versatile Building Near Downtown Midland

      Adaptable 4,656 SF building suitable for various purposes.
      405-407 N Terrell St, Midland, TX 79701
      View Details
    • $2,800,000
      11,000 SF

      Midland Executive Office/Warehouse on Acres

      Class A office/warehouse on 2.23 acres in Midland, TX.
      10804 Hwy 191, Midland, TX 79707
      View Details
    • $485,000
      2,772 SF

      Spacious Home with Workshop on Acreage

      Five-bedroom home with workshop on two acres in Greenwood.
      6708 E County Rd 97, Midland, TX 79706
      View Details
    • $2,667,000
      13,640 SF

      Midland Industrial Asset on Acreage

      13,640 SF industrial asset on 3.5 acres near TX-349.
      1113 Dayton Rd, Midland, TX 79706
      View Details
    • $2,500,000
      5,112 SF

      Iconic Building in High-Traffic Area

      Landmark building on heavily trafficked corridor with strong visibility.
      3327 W Wadley Ave, Midland, TX 79707
      View Details
    • $475,000
      4,200 SF

      Two-Story Office Building in Midland

      4,200 SF office building near Business I-20.
      125 N Fort Worth, Midland, TX 79701
      View Details
    • $325,000
      2,000 SF

      Midland Retail Space For Sale

      2,000 SF retail space in prime Midland location.
      1005 N Midkiff Rd, Midland, TX 79701
      View Details
    • $2,200,000
      22,000 SF

      Spacious Midland Flex/Industrial Property

      22,000 SF flex/industrial building on 5 acres in Midland.
      11610 W County Rd 40, Midland, TX 79707
      View Details
    • $1,270,000
      660 SF

      Retail Site in Growing Corridor

      2-acre site with 660 SF building in Midland, TX.
      6213 FM 307, Midland, TX 79706
      View Details

    FAQs

    What type of property is this?
    Commercial land - Corner lot near downtown, accessible to Highway 80.
    Where is this commercial land located?
    The property is located at 501 Texas Ave Midland, TX.
    What is the asking price?
    The asking price for this property is $500,000.
    What are key features of this property?
    This property features: Corner Lot Advantage; Ready for New Business; Close to Downtown
    (432) 557-4487
    We can help!
    Listing Contact
    Leo Salcido
    Learn More
    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.
    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

    Thank You for Inquiry
    501 Texas Ave, Midland, TX 79701
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!