Four-Unit
For Sale
$325,000
2400 College Ave, Midland, TX 79701
Commercial Sale, Midland, TX
Property Size2,499 SF
Lot Size0.16 Acres
Price / SF$130.05
Days on Market147
Property Features for 2400 College Ave
General Information
Property type
Commercial Sale
Property subtype
Retail
Subdivision
College Heights
Standard status
Active
Size
2,499 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Description
Acres: 0.161, Subd: COLLEGE HEIGHTS, BLK: 016, LOT: 012, ADDN: COLLEGE HEIGHTS
Tax Annual Amount
2424
Legal Description
Acres: 0.161, Subd: COLLEGE HEIGHTS, BLK: 016, LOT: 012, ADDN: COLLEGE HEIGHTS
Building Details
Year built
1948
Listing Agency:
ENERGY REAL ESTATE SOLUTIONS
(432) 664-2745
Listed By:
Alonso Hernandez · License #TX:775636
(432) 425-9692
Added: May 14
Changed: Sep 10
Last Checked: Oct 7 at 3:06PM
MLS# 50095196
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.
Investment Insights
Based on property information with market context.
This 1948 quadplex contains four one-bedroom, one-bath residences totaling approximately 2,499 square feet. Each unit measures approximately 625 square feet, providing a consistent configuration across the property. The site encompasses 0.161 acres and carries SF2 zoning.
Located at 2400 College Ave in Midland, Texas, the property is positioned within the Permian Basin. Existing property management is in place. The units may be operated as long-term rentals or adapted for Airbnb and other short-term rental use, subject to buyer review and applicable requirements. The property information also identifies workforce housing and contractor housing as potential operating focuses.
Located at 2400 College Ave in Midland, Texas, the property is positioned within the Permian Basin. Existing property management is in place. The units may be operated as long-term rentals or adapted for Airbnb and other short-term rental use, subject to buyer review and applicable requirements. The property information also identifies workforce housing and contractor housing as potential operating focuses.
Key Highlights
- Four‑unit quadplex totaling approximately 2,499 SF
- All four units are approximately 625 SF with 1 bed / 1 bath layouts
- 0.161‑acre site at 2400 College Ave, Midland, TX 79701
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,330
Cap Rate
6.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$446,600
$446.6K
Cap Rate 7%
$319,000
$319.0K
Cap Rate 9%
$248,111
$248.1K
Market Conditions
NOI Build-Up for 2,499 SF
Gross rent
$34.5K $13.80/SF
− Vacancy
−$2.6K −$1.04/SF
EGI
$31.9K $12.77/SF
− OpEx
−$9.6K −$3.83/SF
NOI
$22.3K $8.94/SF
Area
Midland, TX
Vacancy
7.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$446,600
Cap Rate 7%
$319,000
Cap Rate 9%
$248,111
Alternative Uses
Best Use
Multifamily LT 5
$319.0K
$279.1K – $372.2K
NOI $22,330 @ 7.0% cap · market cap 6.87%
Second Best
Apartment 5plus
$297.4K
$260.2K – $347.0K
NOI $20,819 @ 7.0% cap · market cap 6.41%
Theoretical Best
Office A
$589.5K
$515.8K – $687.7K
NOI $41,263 @ 7.0% cap · market cap 12.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,138
Businesses Nearby
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
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Quadplex - The property includes uniform one-bedroom, one-bath residences and existing property management.
Where is this quadplex located?
The property is located at 2400 College Ave Midland, TX.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Four‑unit quadplex totaling approximately 2,499 SF; All four units are approximately 625 SF with 1 bed / 1 bath layouts; 0.161‑acre site at 2400 College Ave, Midland, TX 79701
