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 Market79
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: Oct 25
Last Checked: Oct 28 at 6:45AM
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
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 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 / Yr
$16,596
Cap Rate
6.51%
Suggested Prices Based on Cap Rates
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
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 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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
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
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
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
