Building Details

Year built 1974

Listing Agency: ThisRealty Show Phone

Listed By: Megan Garcia · License #TREC#0739947 Show Phone

Added: Aug 31 Changed: Sep 1 Last Checked: Oct 16 at 9:06AM

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MLS# 50097924

Copyright © 2026 Permian Basin 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.

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Investment Insights

Based on property information with market context.

This medical office suite at 2300 Michigan Ave in Midland is arranged with a flexible professional layout and was built in 1974. The property is offered through an undivided trust interest.

The location provides nearby access to Midland Memorial Hospital, along with dining and retail. Its medical-office classification and adaptable interior support professional healthcare use within an established Midland setting.

Key Highlights

• Medical office space at 2300 Michigan Ave, Midland, TX 79701
• Flexible professional layout for medical office use
• Built in 1974

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$15,725

Cap Rate

6.17%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$314,500 $314.5K

Cap Rate 7%

$224,643 $224.6K

Cap Rate 9%

$174,722 $174.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,300 SF

Gross rent

$25.0K $19.20/SF

− Vacancy

−$4.0K −$3.07/SF

EGI

$21.0K $16.13/SF

− OpEx

−$5.2K −$4.03/SF

NOI

$15.7K $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%

$314,500

Cap Rate 7%

$224,643

Cap Rate 9%

$174,722

Alternative Uses

Best Use

Office B

$224.6K

$196.6K – $262.1K (±1% cap)

NOI $15,725 @ 7.0% cap · market cap 6.17%

Second Best

Healthcare Medical

$220.2K

$192.7K – $256.9K (±1% cap)

NOI $15,416 @ 7.0% cap · market cap 6.05%

Theoretical Best

Office A

$306.7K

$268.3K – $357.8K (±1% cap)

NOI $21,466 @ 7.0% cap · market cap 8.42%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Laura Philipps, DMD Dental Office Edward M. Lopez Physician Rhodes Ernesto P ... Physician Brachetta Guillermo MD Physician Oei Joseph MD Physician

Suggested Use

Top Pick Real Estate Agency Restaurant Building Supply Law Firm HVAC Service Big Box & Wholesale Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

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Frequently Asked Questions

What type of property is this?

Medical Office Space - Flexible professional layout suited to medical office use in Midland.

Where is this medical office space located?

The property is located at 2300 Michigan Ave 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: Medical office space at 2300 Michigan Ave, Midland, TX 79701; Flexible professional layout for medical office use; Built in 1974