2407 W Indiana Ave Midland, TX 79701
SINGLE_FAMILY - Midland, TX
Property Features for 2407 W Indiana Ave
General Information
- Property type
- Residential
- Property subtype
- Retail
- Standard status
- Active
- Size
- 2,049 SF
- Lot size
- 0.13 Acres
Taxes and HOA fees
- Tax Description
- Acres: 0.134, BLK: J, LOT: 004A, ADDN: GARRETT PLACE SEC 7
- Tax Annual Amount
- 3015
Building Details
- Year built
- 1965
Listing agent Cynthia Martinez License #TREC 0703055 (432) 978-2110
Listing office Keller Williams 4920 N Midkiff Rd, Midland, TX (432) 520-5151
Listing date Mar 26, 2026
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.
The property is located at 2407 W Indiana Ave in Midland, Texas, and is described as having convenient access to both downtown and the interstate. Zoning is listed as RR per COM web, and the listing notes that buyers should verify the zone and any restrictions.
For investors and buyers looking for a multi-unit retail setup, the presence of three rental units on one parcel may offer flexibility for future leasing or repositioning. Owner financing is noted as available, and showings can be scheduled to review the current layout and operating use as an antique store. Buyer due diligence is advised to confirm zoning and restrictions before proceeding with renovation plans.
Key Highlights
- Three rental units on one parcel offer excellent income potential.
- Owner financing available.
- Convenient location with easy access to downtown and the interstate.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $30.7k | $15.00 |
| − Vacancy | −$2.2k | −$1.05 |
| EGI | $28.6k | $13.95 |
| − OpEx | −$8.6k | −$4.19 |
| NOI | $20.0k | $9.76 |
Alternative Uses
Property Analytics
Current Use by Public Records
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