Retail-Industrial Opportunity Near
For Sale
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3205 W Wall Street, Midland, TX 79701
38,164 SF retail-industrial property on 5.38 acres for sale.
Property Size38,164 SF
Lot Size5.38 Acres
Price / SF$144.90
Days on Market749
Property Features for 3205 W Wall Street
General Information
Standard status
Active
Size
38,164 SF
Lot size
5.38 Acres
Property subtype
Retail, Industrial
Zoning
RR & C
Lease Type
NNN
Building Details
Year Built
1958
Buildings
4
Tenancy
Single
Listing Agency:
Moriah Real Estate Company, LLC
Listed By:
Trey Dennis · License #TX 723150
(432) 682-2510
Source:
Crexi
Added: Aug 27, 2024
Changed: Sep 1
Last Checked: Sep 14 at 5:45AM
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 Moriah Real Estate Company, LLC
Investment Insights
Based on property information with market context.
This retail-industrial property is located near Downtown Midland on Wall Street, offering convenient highway access. The location benefits from high traffic, with 14,841 vehicles passing daily, according to TxDOT's Annual Average Daily Traffic report. The property includes 38,164 square feet of space under roof, situated on 5.38 acres. It comprises four buildings, presenting an opportunity for an investor to divide the property and lease them separately. The current tenant, Sewell Automotive, has a lease expiring on January 31, 2027, and has indicated they will not be renewing and will be relocating. The tenant's current rent is $30,000.00 per month, NNN.
Key Highlights
- High‑traffic location with 14,841 vehicles per day.
- Significant square footage: 38,164 SF under roof on 5.38 acres.
- Income‑producing property: Current tenant pays $30,000/month, NNN.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$372,671
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.74%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$7,453,420
$7.5M
Cap Rate 7%
$5,323,871
$5.3M
Cap Rate 9%
$4,140,789
$4.1M
Market Conditions
NOI Build-Up for 38,164 SF
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.
Gross rent
$572.5K $15.00/SF
− Vacancy
−$40.1K −$1.05/SF
EGI
$532.4K $13.95/SF
− OpEx
−$159.7K −$4.19/SF
NOI
$372.7K $9.76/SF
Area
Midland, TX
Vacancy
7.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$7,453,420
Cap Rate 7%
$5,323,871
Cap Rate 9%
$4,140,789
Alternative Uses
Best Use
Retail
$5.32M
$4.66M – $6.21M
NOI $372,671 @ 7.0% cap · market cap 6.74%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$9.00M
$7.88M – $10.50M
NOI $630,164 @ 7.0% cap · market cap 11.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
770
Businesses Nearby
27k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 59%
Home Improvements & Furnishings 22%
Dining 18%
Hotels & Casinos 1%
McCoy's Building Supply
Home Improvements & Furnishings
5,243 visits/mo
0.2 miles
Dollar General
Shops & Services
4,862 visits/mo
0.2 miles
Denny's
Dining
4,813 visits/mo
0.4 miles
Exxon
Shops & Services
4,755 visits/mo
0.3 miles
U-Haul
Shops & Services
2,653 visits/mo
0.4 miles
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Retail property - 38,164 SF retail-industrial property on 5.38 acres for sale.
Where is this retail property located?
The property is located at 3205 W Wall Street Midland, TX.
What is the asking price?
The asking price for this property is $5,530,000.
What are key features of this property?
This property features: High‑traffic location with 14,841 vehicles per day.; Significant square footage: 38,164 SF under roof on 5.38 acres.; Income‑producing property: Current tenant pays $30,000/month, NNN.
