Land Under Absolute NNN Ground
300 N Marienfeld St Midland, TX 79701
300 N Marienfeld St, Midland, TX, 79701
Contact for pricing
For Sale
Contact for pricing
Fee simple land is subject to a 99-year absolute NNN ground lease to an investment-grade tenant.
Property Size149,000 SF
Lot Size1.38 Acres
Price / SF$140.12
Days on Market135
Property Features for 300 N Marienfeld St
General Information
- Standard status
- Active
- Size
- 149,000 SF
- Lot size
- 1.38 Acres
- Property subtype
- Land, Office, Special Purpose
Listed by
Jon Nesbitt · License #TX 633814
Source
Crexi
Added: Mar 9 Updated: Jul 21 at 12:47AM Checked: Jul 21 at 6:34AM
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 Jon Nesbitt
Investment Insights
Based on property information with market context.
This offering is for the fee simple sale of land benefiting from a 99-year Absolute NNN ground lease to an investment grade tenant. The lease term is described as 35 years with 32 years remaining. The structure is marketed as “Zero Cash Flow (ZCF)” and includes a pay-down/re-advance feature. The property comprises 1.38 acres and is positioned beneath a 149,000 SF, 12-story Class A office building and an adjoining 7-story parking garage.
The land is located at 300 N Marienfeld St in Midland, Texas, in the heart of downtown Midland.
Financing is described as 35-year (32 years remaining) assumable, fixed-rate, high-leverage, non-recourse financing, with additional mezzanine debt also available.
The land is located at 300 N Marienfeld St in Midland, Texas, in the heart of downtown Midland.
Financing is described as 35-year (32 years remaining) assumable, fixed-rate, high-leverage, non-recourse financing, with additional mezzanine debt also available.
Key Highlights
- Fee simple land offered subject to a 99‑year absolute NNN ground lease to an investment‑grade tenant
- 1.38‑acre site located beneath a 149,000 SF, 12‑story Class A office building and an adjoining 7‑story parking garage
- Assumable 35‑year fixed‑rate financing with 32 years remaining, high‑leverage, non‑recourse
Local Financial Insights For Office B
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 | $2.86M | $19.20 |
| − Vacancy | −$457.7k | −$3.07 |
| EGI | $2.40M | $16.13 |
| − OpEx | −$600.8k | −$4.03 |
| NOI | $1.80M | $12.10 |
149,000 SF · lease $19.20/SF/yr · vacancy 16.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$25.75M
$22.53M – $30.04M
NOI $1,802,304 @ 7.0% cap · market cap 8.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$35.15M
$30.75M – $41.00M
NOI $2,460,288 @ 7.0% cap · market cap 11.78%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Canyon Energy Inc
Government
Shelltrading US Co
Gas Company
Colgate Energy LLC
Oil & Natural Gas Company
Reliance Energy Inc
Oil & Natural Gas Company
Merrill Lynch Wealth ...
Financial Advisor
Similar For Sale Nearby
FAQs
What type of property is this?
Commercial land - Fee simple land is subject to a 99-year absolute NNN ground lease to an investment-grade tenant.
Where is this commercial land located?
The property is located at 300 N Marienfeld St Midland, TX.
What is the asking price?
The asking price for this property is $20,878,000.
What are key features of this property?
This property features: Fee simple land offered subject to a 99‑year absolute NNN ground lease to an investment‑grade tenant; 1.38‑acre site located beneath a 149,000 SF, 12‑story Class A office building and an adjoining 7‑story parking garage; Assumable 35‑year fixed‑rate financing with 32 years remaining, high‑leverage, non‑recourse
