Flexible Medical Office
For Sale
Contact for pricing
2300 Michigan Ave # 1, Midland, TX 79701
Medical office space with an adaptable interior arrangement near Midland Memorial Hospital, dining, and retail.
Property Size1,372 SF
Price / SF$185.86
Days on Market34
Property Features for 2300 Michigan Ave # 1
General Information
Standard status
Active
Size
1,372 SF
Property subtype
Land
Listing Agency:
ThisRealty
Listed By:
Megan Garcia · License #TREC #0739947
(432) 952-9286
Source:
Crexi
Added: Aug 12
Changed: Sep 13
Last Checked: Sep 14 at 6:35AM
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 ThisRealty
Investment Insights
Based on property information with market context.
This 1,372-square-foot medical office suite offers a flexible interior layout for professional or healthcare-related operations. The property is offered through an undivided trust interest, providing a defined ownership interest in the suite.
Located at 2300 Michigan Ave #1 in Midland, the office is near Midland Memorial Hospital as well as dining and retail services.
Located at 2300 Michigan Ave #1 in Midland, the office is near Midland Memorial Hospital as well as dining and retail services.
Key Highlights
- 1,372‑square‑foot medical office suite
- Flexible interior layout
- Near Midland Memorial Hospital
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$16,596
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.51%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$331,920
$331.9K
Cap Rate 7%
$237,086
$237.1K
Cap Rate 9%
$184,400
$184.4K
Market Conditions
NOI Build-Up for 1,372 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$26.3K $19.20/SF
− Vacancy
−$4.2K −$3.07/SF
EGI
$22.1K $16.13/SF
− OpEx
−$5.5K −$4.03/SF
NOI
$16.6K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$331,920
Cap Rate 7%
$237,086
Cap Rate 9%
$184,400
Alternative Uses
Best Use
Office B
$237.1K
$207.5K – $276.6K
NOI $16,596 @ 7.0% cap · market cap 6.51%
Second Best
Healthcare Medical
$232.4K
$203.4K – $271.2K
NOI $16,270 @ 7.0% cap · market cap 6.38%
Theoretical Best
Office A
$323.6K
$283.2K – $377.6K
NOI $22,654 @ 7.0% cap · market cap 8.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,288
Businesses Nearby
Under-served
Demand for This Use
Explore this area
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical office space with an adaptable interior arrangement near Midland Memorial Hospital, dining, and retail.
Where is this medical office space located?
The property is located at 2300 Michigan Ave # 1 Midland, TX.
What is the asking price?
The asking price for this property is $255,000.
What are key features of this property?
This property features: 1,372‑square‑foot medical office suite; Flexible interior layout; Near Midland Memorial Hospital
