Two-Bay Car Wash
4406 W Illinois Ave, Midland, TX 79703
For Sale
Contact for pricing
Existing drive-thru structures support car wash or retail and service redevelopment.
Property Size2,140 SF
Price / SF$131.15
Days on Market95
Property Features for 4406 W Illinois Ave
General Information
Standard status
Size
Property subtype
Listing Agency:
Moriah Brokerage Services
(432) 682-2510
Listed By:
Wes Gotcher
(432) 853-9783
Source:
Moodyscre
Added: Aug 10
Changed: Nov 10
Last Checked: Nov 12 at 10:27AM
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 Brokerage Services
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 2140-square-foot car wash property includes two existing drive-thru bay structures. The improvements can support continued car wash use or be adapted for retail and service operations, subject to the applicable requirements for the proposed use.
The property is located near the signalized intersection of Midland Drive and Illinois Avenue at 4406 W Illinois Ave in Midland, Texas. Its existing bay configuration provides a foundation for renovation or reuse within a retail-oriented setting.
The property is located near the signalized intersection of Midland Drive and Illinois Avenue at 4406 W Illinois Ave in Midland, Texas. Its existing bay configuration provides a foundation for renovation or reuse within a retail-oriented setting.
Key Highlights
- 2140‑square‑foot property at 4406 W Illinois Ave
- Two existing drive‑thru bay structures
- Former car wash configuration
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,411
Cap Rate
8.34%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$468,220
$468.2K
Cap Rate 7%
$334,443
$334.4K
Cap Rate 9%
$260,122
$260.1K
Market Conditions
NOI Build-Up for 2,140 SF
Gross rent
$33.4K $15.60/SF
− Vacancy
−$2.2K −$1.01/SF
EGI
$31.2K $14.59/SF
− OpEx
−$7.8K −$3.65/SF
NOI
$23.4K $10.94/SF
Area
Midland, TX
Vacancy
6.50%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$468,220
Cap Rate 7%
$334,443
Cap Rate 9%
$260,122
Alternative Uses
Best Use
Specialty Retail
$334.4K
$292.6K – $390.2K
NOI $23,411 @ 7.0% cap · market cap 8.34%
Second Best
Retail
$298.5K
$261.2K – $348.3K
NOI $20,897 @ 7.0% cap · market cap 7.45%
Theoretical Best
Office A
$504.8K
$441.7K – $588.9K
NOI $35,336 @ 7.0% cap · market cap 12.59%
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
390
Businesses Nearby
25k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 70%
Apparel 23%
Dining 7%
Dollar General
Shops & Services
8,030 visits/mo
0.1 miles
Goodwill
Apparel
5,862 visits/mo
0.2 miles
Family Dollar
Shops & Services
5,677 visits/mo
0.2 miles
Storage Rentals of America
Shops & Services
2,174 visits/mo
0.1 miles
SUBWAY
Dining
1,705 visits/mo
0.2 miles
Demographics for 79703, TX
21,205
Population
8,110
Households
2.6
Avg Household Size
33
Median Age
20%
College-Educated
83%
High-School Grad
6.5 sq mi
ZIP Area
3,262
Density / Sq Mi
$80,281
Median Household Income
$44,977
Median Earnings
$1,466
Median Rent
$220,600
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?
Car wash - Existing drive-thru structures support car wash or retail and service redevelopment.
Where is this car wash located?
The property is located at 4406 W Illinois Ave Midland, TX.
What is the asking price?
The asking price for this property is $280,657.
What are key features of this property?
This property features: 2140‑square‑foot property at 4406 W Illinois Ave; Two existing drive‑thru bay structures; Former car wash configuration
