Freestanding Medical Facility with
For Sale
$2,650,000
2402 W Wall St, Midland, TX 79701
The interior combines patient-facing rooms and diagnostic functions with administrative and staff support areas.
Property Size10,687 SF
Price / SF$247.96
Days on Market10
Property Features for 2402 W Wall St
General Information
Standard status
Active
Size
10,687 SF
Total Parking Spaces
37
Additional Details
Highway Access
Yes
Property Use
Healthcare Facility
Taxes and HOA fees
Annual Taxes
$20,281
Amenities
Large Reception Area
Patient Waiting Room
Administrative Offices
Exam Rooms
Imaging Diagnostic Areas
Laboratory
Employee Break Room with Full Kitchen
Patient Drop-Off
Building Details
Building Size
10,687 SF
Listing Agency:
NRG Realty Group, LLC
(210) 860-0241
Listed By:
Amy Brasher Barnett, CCIM · License #514276
(432) 352-6714
Source:
Exprealty
Added: Oct 28
Changed: Nov 4
Last Checked: Nov 4 at 2:15PM
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 NRG Realty Group, LLC
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Investment Insights
Based on property information with market context.
This freestanding healthcare property contains 10,687 square feet, with a large reception area and patient waiting room, administrative offices, exam rooms, and support space. Existing improvements include imaging and diagnostic areas, a laboratory, and an employee break room with a full kitchen. Recent exterior work includes a new parking lot. Dedicated on-site parking accommodates 37 vehicles, with convenient patient access and drop-off. Building and monument signage opportunities are available.
The property is approximately 1.5 miles from Midland Memorial Hospital, with access to downtown Midland, Andrews Highway, and Loop 250. Nearby roadway exposure is reported at 29,084 annual average daily traffic (TPP, 2024).
The property is approximately 1.5 miles from Midland Memorial Hospital, with access to downtown Midland, Andrews Highway, and Loop 250. Nearby roadway exposure is reported at 29,084 annual average daily traffic (TPP, 2024).
Key Highlights
- 10,687 SF freestanding healthcare facility
- Existing imaging, diagnostic, and laboratory areas
- Dedicated on‑site parking for 37 vehicles, plus patient drop‑off
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$129,270
Cap Rate
4.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,585,400
$2.6M
Cap Rate 7%
$1,846,714
$1.8M
Cap Rate 9%
$1,436,333
$1.4M
Market Conditions
NOI Build-Up for 10,687 SF
Gross rent
$205.2K $19.20/SF
− Vacancy
−$32.8K −$3.07/SF
EGI
$172.4K $16.13/SF
− OpEx
−$43.1K −$4.03/SF
NOI
$129.3K $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%
$2,585,400
Cap Rate 7%
$1,846,714
Cap Rate 9%
$1,436,333
Alternative Uses
Best Use
Office B
$1.85M
$1.62M – $2.15M
NOI $129,270 @ 7.0% cap · market cap 4.88%
Second Best
Healthcare Medical
$1.81M
$1.58M – $2.11M
NOI $126,731 @ 7.0% cap · market cap 4.78%
Theoretical Best
Office A
$2.52M
$2.21M – $2.94M
NOI $176,464 @ 7.0% cap · market cap 6.66%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,320
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Medical center - The interior combines patient-facing rooms and diagnostic functions with administrative and staff support areas.
Where is this medical center located?
The property is located at 2402 W Wall St Midland, TX.
What is the asking price?
The asking price for this property is $2,650,000.
What are key features of this property?
This property features: 10,687 SF freestanding healthcare facility; Existing imaging, diagnostic, and laboratory areas; Dedicated on‑site parking for 37 vehicles, plus patient drop‑off
