Renovated Versatile Commercial
For Sale
Contact for pricing
3400 N Big Spring St, Midland, TX
3,200 SF renovated building on 0.63-acre lot for sale.
Property Size3,200 SF
Lot Size0.36 Acres
Price / SF$375
Days on Market536
Property Features for 3400 N Big Spring St
General Information
Standard status
Active
Size
3,200 SF
Lot size
0.36 Acres
Property subtype
RETAIL
Listing Agency:
Moriah Brokerage Services
(432) 682-2510
Listed By:
John Elphick · License #0377074
(432) 553-9253
Source:
Moodyscre
Added: May 12, 2025
Changed: Oct 25
Last Checked: Oct 28 at 10:38AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Moriah Brokerage Services
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This standalone building offers 3,200 square feet of space under roof and is situated on a 0.63-acre lot. The building has undergone a significant renovation, adding 1,000 square feet to the original layout. Previously operated as an animal hospital, the space is versatile and can be repurposed for office use, an event center, or other commercial purposes. The property features a paved parking lot with ample parking space for both employees and clients. Located in Midland, TX, at 3400 N Big Spring St, the property is suitable for storefront, individual retail, retail, and office use.
Key Highlights
- Standalone building on a .63‑acre lot.
- Recently renovated with a 1,000 SF addition.
- Versatile space** suitable for office, event center, or other commercial purposes.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,707
Cap Rate
3.23%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$774,140
$774.1K
Cap Rate 7%
$552,957
$553.0K
Cap Rate 9%
$430,078
$430.1K
Market Conditions
NOI Build-Up for 3,200 SF
Gross rent
$61.4K $19.20/SF
− Vacancy
−$9.8K −$3.07/SF
EGI
$51.6K $16.13/SF
− OpEx
−$12.9K −$4.03/SF
NOI
$38.7K $12.10/SF
Area
Midland, TX
Vacancy
16.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$774,140
Cap Rate 7%
$552,957
Cap Rate 9%
$430,078
Alternative Uses
Best Use
Office B
$553.0K
$483.8K – $645.1K
NOI $38,707 @ 7.0% cap · market cap 3.23%
Second Best
Retail
$446.4K
$390.6K – $520.8K
NOI $31,248 @ 7.0% cap · market cap 2.60%
Theoretical Best
Office A
$754.8K
$660.5K – $880.6K
NOI $52,838 @ 7.0% cap · market cap 4.40%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
905
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Similar Off Market Nearby
- Midland Floral & Gifts — 4400 N Big Spring St Ste C36, Midland, TX 79705
Frequently Asked Questions
What type of property is this?
Storefront property - 3,200 SF renovated building on 0.63-acre lot for sale.
Where is this storefront property located?
The property is located at 3400 N Big Spring St Midland, TX.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Standalone building on a .63‑acre lot.; Recently renovated with a **1,000 SF addition.**; Versatile space** suitable for office, event center, or other commercial purposes.
