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 Market795
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) 236-7500
Source:
Crexi
Added: Aug 27, 2024
Changed: Oct 25
Last Checked: Oct 28 at 8:03AM
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
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Review the available facts, identify missing information and prepare questions for the agent.
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 / Yr
$372,671
Cap Rate
6.74%
Suggested Prices Based on Cap Rates
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
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 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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
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
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
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.
