Two-Story Masonry Office
For Sale
$1,400,000
213 N Main St, Midland, TX 79701
Two-story masonry office building built in 1949 with 8,386 SF under CB zoning.
Property Size8,386 SF
Price / SF$166.94
Days on Market94
Property Features for 213 N Main St
General Information
Standard status
Active
Size
8,386 SF
Building Details
Year Built
1949
Listing Agency:
Heritage Real Estate
Listed By:
Regginald Moore · License #0845287
(432) 246-7324
Source:
Billlanier
Added: Jul 21
Changed: Oct 2
Last Checked: Oct 7 at 2:22PM
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 Heritage Real Estate
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Investment Insights
Based on property information with market context.
This two-story masonry office building was built in 1949 and totals 8,386 SF. The property is suitable for professional office use and is positioned as a downtown office asset within CB zoning.
Located on N Main St in downtown Midland, the building benefits from adjacent public parking. The offering is described as being in a downtown revival district with high foot traffic.
The building’s configuration and size support established office operations, including law firm and professional services users, based on the provided remarks.
Located on N Main St in downtown Midland, the building benefits from adjacent public parking. The offering is described as being in a downtown revival district with high foot traffic.
The building’s configuration and size support established office operations, including law firm and professional services users, based on the provided remarks.
Key Highlights
- Two‑story masonry office building built in 1949
- 8,386 SF office building in downtown on N Main St
- CB zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$101,437
Cap Rate
7.25%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,028,740
$2.0M
Cap Rate 7%
$1,449,100
$1.4M
Cap Rate 9%
$1,127,078
$1.1M
Market Conditions
NOI Build-Up for 8,386 SF
Gross rent
$161.0K $19.20/SF
− Vacancy
−$25.8K −$3.07/SF
EGI
$135.2K $16.13/SF
− OpEx
−$33.8K −$4.03/SF
NOI
$101.4K $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%
$2,028,740
Cap Rate 7%
$1,449,100
Cap Rate 9%
$1,127,078
Alternative Uses
Best Use
Office B
$1.45M
$1.27M – $1.69M
NOI $101,437 @ 7.0% cap · market cap 7.25%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.98M
$1.73M – $2.31M
NOI $138,470 @ 7.0% cap · market cap 9.89%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
2,268
Businesses Nearby
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Business Placement
Demographics for 79701, TX
29,748
Population
11,393
Households
2.6
Avg Household Size
33
Median Age
19%
College-Educated
73%
High-School Grad
12.1 sq mi
ZIP Area
2,459
Density / Sq Mi
$57,679
Median Household Income
$36,213
Median Earnings
$1,336
Median Rent
$204,000
Median Home Value
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - Two-story masonry office building built in 1949 with 8,386 SF under CB zoning.
Where is this office building located?
The property is located at 213 N Main St Midland, TX.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Two‑story masonry office building built in 1949; 8,386 SF office building in downtown on N Main St; CB zoning
