Freestanding Medical
New
For Sale
$2,650,000
2402 W Wall St, Midland, TX 79701
Commercial Sale, Midland, TX
Property Size10,687 SF
Lot Size1.34 Acres
Price / SF$247.96
Days on Market2
Property Features for 2402 W Wall St
General Information
Property type
Commercial Sale
Property subtype
Retail
Subdivision
ME7
Standard status
Active
Size
10,687 SF
Lot size
1.34 Acres
Additional Details
Property Use
Healthcare Facility
Taxes and HOA fees
Tax Description
Acres: 1.336, BLK: 001, LOTS: 2; 3 & 4(E25), ADDN: GARRETT PLACE, SEC 2
Tax Annual Amount
20282
Legal Description
Acres: 1.336, BLK: 001, LOTS: 2; 3 & 4(E25), ADDN: GARRETT PLACE, SEC 2
Amenities
building & monument signage opportunities
large reception area
patient waiting room
employee break room with full kitchen
Building Details
Year built
1982
Buildings
1
Listing Agency:
NRG Realty Group, LLC
(210) 860-0241
Listed By:
Amy Brasher Barnett, CCIM
(432) 352-6714
Added: Oct 28
Last Checked: Oct 29 at 2:06PM
MLS# 50099325
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 freestanding healthcare facility contains 10,687 square feet on a 1.336-acre site. Its interior includes a reception area and patient waiting room, administrative offices, exam rooms, and support space, along with existing imaging and diagnostic areas and a laboratory. Staff amenities include a break room with a full kitchen.
The property is approximately 1.5 miles from Midland Memorial Hospital, with access to downtown Midland, Andrews Highway, and Loop 250. Annual average daily traffic is reported at 29,084, based on TPP 2024 data.
On-site parking accommodates 37 vehicles, with dedicated patient access and drop-off. Recent exterior work includes a new parking lot; building and monument signage opportunities are also noted.
The property is approximately 1.5 miles from Midland Memorial Hospital, with access to downtown Midland, Andrews Highway, and Loop 250. Annual average daily traffic is reported at 29,084, based on TPP 2024 data.
On-site parking accommodates 37 vehicles, with dedicated patient access and drop-off. Recent exterior work includes a new parking lot; building and monument signage opportunities are also noted.
Key Highlights
- 10,687‑square‑foot freestanding healthcare facility on 1.336 acres
- Reception and patient waiting areas, exam rooms, administrative offices, and support space
- Existing imaging, diagnostic areas, and laboratory
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.
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,320
Businesses Nearby
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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 Office in South region
Frequently Asked Questions
What type of property is this?
Medical center - Configured with reception, patient waiting, exam, administrative, diagnostic, and laboratory areas for healthcare operations.
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‑square‑foot freestanding healthcare facility on 1.336 acres; Reception and patient waiting areas, exam rooms, administrative offices, and support space; Existing imaging, diagnostic areas, and laboratory
