Former Dealership on W
For Sale
$7,498,730
3705 W Wall St, Midland, TX 79701
39,467 SF facility on 5.003 Acres for sale.
Property Size39,467 SF
Lot Size5.00 Acres
Price / SF$190
Days on Market153
Property Features for 3705 W Wall St
General Information
Standard status
Active
Size
39,467 SF
Lot size
5.00 Acres
Building Details
Year Built
2002
Listing Agency:
NRG Realty Group, LLC
(432) 363-4777
Listed By:
Amy Brasher Barnett · License #9004023
Source:
Billlanier
Added: Mar 27
Changed: Aug 23
Last Checked: Aug 25 at 9:15AM
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
Investment Insights
Based on property information with market context.
This is a ±39,467 SF facility situated on 5.003 acres along W Wall Street. The property benefits from strong frontage, visibility, and access, with a traffic count of 21,542. It is suitable for automotive, fleet, equipment, or industrial users requiring integrated showroom, office, service, and warehouse space. The front area includes a service check-in, waiting area, five offices, an open office/bullpen area, an IT room, an executive office with a private restroom, additional restrooms, and a kitchenette. The service area features a 40' x 120' shop/storage section with shelving and an overhead door, connecting to an 80' x 170' warehouse with a 17' clear height, heaters, a MacroAir fan, 12 Rotary lifts, (3) 12' x 12' overhead doors, a shop restroom, and a break room. Additional improvements include a 60' x 50' service garage with 6 bay doors, a 32' x 60' paint booth shop with 2 overhead doors, a 5-bay garage area with 10' x 10' overhead doors, and upstairs storage. The site is fully paved with ample parking, yard space, and lot lighting. The roof and HVAC have been updated, and fiber internet is available.
Key Highlights
- ±39,467 SF former Honda dealership on 5.003 Acres with strong frontage, visibility, and access along W Wall Street.
- Ideal for automotive, fleet, equipment, or industrial users needing integrated showroom, office, service, and warehouse space.
- Extensive service area: 40' x 120' shop/storage, 80' x 170' warehouse with 17' clear height, 12 Rotary lifts, and (3) 12' x 12' overhead doors.
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
$477,393
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
6.37%
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%
$9,547,860
$9.5M
Cap Rate 7%
$6,819,900
$6.8M
Cap Rate 9%
$5,304,367
$5.3M
Market Conditions
NOI Build-Up for 39,467 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
$757.8K $19.20/SF
− Vacancy
−$121.2K −$3.07/SF
EGI
$636.5K $16.13/SF
− OpEx
−$159.1K −$4.03/SF
NOI
$477.4K $12.10/SF
Area
Midland, TX
Vacancy
16.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
25.00%
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%
$9,547,860
Cap Rate 7%
$6,819,900
Cap Rate 9%
$5,304,367
Alternative Uses
Best Use
Office B
$6.82M
$5.97M – $7.96M
NOI $477,393 @ 7.0% cap · market cap 6.37%
Second Best
Warehouse
$6.14M
$5.37M – $7.16M
NOI $429,877 @ 7.0% cap · market cap 5.73%
Theoretical Best
Office A
$9.31M
$8.15M – $10.86M
NOI $651,679 @ 7.0% cap · market cap 8.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
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- Bison Towing — 3920 W Wall St, Midland, TX 79703
- Midland Car Rentals — 1530 County Rd 1204 S, Midland, TX 79701
Frequently Asked Questions
What type of property is this?
Automotive property - 39,467 SF facility on 5.003 Acres for sale.
Where is this automotive property located?
The property is located at 3705 W Wall St Midland, TX.
What is the asking price?
The asking price for this property is $7,498,730.
What are key features of this property?
This property features: ±39,467 SF former Honda dealership on 5.003 Acres with strong frontage, visibility, and access along W Wall Street.; Ideal for automotive, fleet, equipment, or industrial users needing integrated showroom, office, service, and warehouse space.; Extensive service area: 40' x 120' shop/storage, 80' x 170' warehouse with 17' clear height, 12 Rotary lifts, and (3) 12' x 12' overhead doors.
