Former Dealership with Extensive
3705 W Wall St, Midland, TX 79701
For Sale
$6,500,000
39,467 SF property with 32 bays and 24 lifts.
Property Size39,467 SF
Lot Size5.00 Acres
Price / SF$164.69
Days on Market229
Property Features for 3705 W Wall St
General Information
Standard status
Size
Lot size
Building Details
Year Built
Listing Agency:
NRG Realty Group, LLC
Listed By:
Amy Brasher Barnett · License TX #514276
(432) 352-6714
Source:
Billlanier
Added: Mar 26
Changed: Oct 25
Last Checked: Oct 7 at 1:18PM
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 NRG Realty Group, LLC
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Investment Insights
Based on property information with market context.
This property, formerly a Honda dealership, features approximately 39,467 square feet of improvements on approximately 5.003 acres of land. It includes 32 bays with 24 lifts, providing substantial shop space suitable for a dealership operation. All office bathrooms are ADA compliant. The shop is heated, pre-wired for HVAC, and includes an insulated warehouse. The property is equipped with two showrooms and a paint booth with a separate bay. Internet infrastructure has been upgraded to fiber via AT&T. Recent updates include the roof and HVAC systems. The property is located on a highly trafficked street with frontage on Wall Street. Additional features include a tire changer, balancer, screw compressors and lifts.
Key Highlights
- Approximately 39,467 sq ft of improvements on 5.003 acres.
- 32 bays with 24 lifts, ideal for automotive use.**
- Located on a highly trafficked street with frontage on Wall Street.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$429,877
Cap Rate
6.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$8,597,540
$8.6M
Cap Rate 7%
$6,141,100
$6.1M
Cap Rate 9%
$4,776,411
$4.8M
Market Conditions
NOI Build-Up for 39,467 SF
Gross rent
$535.2K $13.56/SF
− Vacancy
−$29.4K −$0.75/SF
EGI
$505.7K $12.81/SF
− OpEx
−$75.9K −$1.92/SF
NOI
$429.9K $10.89/SF
Area
Midland, TX
Vacancy
5.50%
Lease Rate
$13.56 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$8,597,540
Cap Rate 7%
$6,141,100
Cap Rate 9%
$4,776,411
Alternative Uses
Best Use
Warehouse
$6.14M
$5.37M – $7.16M
NOI $429,877 @ 7.0% cap · market cap 6.61%
Second Best
Retail
$5.51M
$4.82M – $6.42M
NOI $385,395 @ 7.0% cap · market cap 5.93%
Theoretical Best
Office A
$9.31M
$8.15M – $10.86M
NOI $651,679 @ 7.0% cap · market cap 10.03%
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
530
Businesses Nearby
Well-served
Demand for This Use
Explore this area
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
Similar Off Market Nearby
- All American Collision Center of Midland — 4406 W Wall St Suite #400, Midland, TX 79703
- Richlynn Corporation — 1306 S Midland Dr, Midland, TX 79703
- All American Collision — 4406 W Wall St, Midland, TX 79703
- Pro Tech Body Works Inc — 1226 S Midland Dr, Midland, TX 79703
- Steelrain pdr llc — 1304 S Midland Dr, Midland, TX 79703
Frequently Asked Questions
What type of property is this?
Auto shop - 39,467 SF property with 32 bays and 24 lifts.
Where is this auto shop located?
The property is located at 3705 W Wall St Midland, TX.
What is the asking price?
The asking price for this property is $6,500,000.
What are key features of this property?
This property features: Approximately 39,467 sq ft of improvements on 5.003 acres.; 32 bays with 24 lifts, ideal for automotive use.**; Located on a highly trafficked street with frontage on Wall Street.
