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    Versatile Commercial Building on West Wall Title is generated by Realmo AI

    4606 W Wall St, Midland, TX 79703

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    16,416 SF building suitable for flex space or redevelopment.

    Type:Industrial - Flex - Industrial
    Property size:
    16,416 SF
    Lot size:
    1.98 Acres
    Added:
    May 20, 2026
    Days on Market:
    12
    Last Refresh:
    May 20 at 8:10 pm

    Property Features for 4606 W Wall St

    General Information

    Standard status
    Active
    Size
    16,416 SF
    Lot size
    1.98 Acres
    Property subtype
    Industrial - Flex - Industrial

    Building Details

    Year Built
    1965

    We can help!

    Listing Contact
    Amy Brasher Barnett

    Listing agent Amy Brasher Barnett

    Listing office NRG Realty Group

    Listing date May 20, 2026

    Source Commercialcafe

    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

    HighLights

    • 16,416 SF building on 1.98 acres, ideal for flex space or redevelopment.
    • Zoned C3 for general commercial use, offering a wide range of business possibilities.
    • Located on West Wall Street with 150' of frontage and high visibility, less than a mile from Loop 250.
    • Property can be sold as a whole or separated into three lease options.
    • Includes existing infrastructure from previous veterinary clinic, grooming facility, and boarding facility.
    • Fully fenced with paved parking and 9 covered spaces.

    Overview

    Located on West Wall Street, less than a mile from Loop 250, this 16,416 square foot building on 1.98 acres offers 150 feet of frontage and is zoned C3 for general commercial use. The property, previously a veterinary clinic, is suitable for transformation into flex space. It can be sold as a whole or separated into three lease options. The first space was previously a two-story vet clinic including a spacious waiting area/reception, 5 exam rooms, surgical room, x-ray room, pharmacy, an IT room, and various other rooms that can be used for office space. The second space was a grooming facility hosting a large open room, 2 offices, and a restroom. The third space was a boarding facility featuring a check-in counter with open office space and 118 detached kennels with outdoor runs. The site is fully fenced and has paved parking with 9 covered spaces. The property is located off Business Loop 20, approximately 4 miles from Downtown Midland, and is accessible from Midland International Air & Space Port. The property is ready for renovations.
    Location Intelligence

    Current Use by Public Records

    Tall City Veterinary ... Veterinary Clinic

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Building Supply Auto Repair Shop Gym & Fitness Center Pharmacy Big Box & Wholesale Store Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Midland
    County
    Midland
    State
    Texas
    Longitude
    -102.131295
    Latitude
    31.9674694

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    FAQs

    What type of property is this?
    Flex space - 16,416 SF building suitable for flex space or redevelopment.
    Where is this flex space located?
    The property is located at 4606 W Wall St Midland, TX.
    What are key features of this property?
    This property features: 16,416 SF building on 1.98 acres, ideal for flex space or redevelopment.; Zoned C3 for general commercial use, offering a wide range of business possibilities.; Located on West Wall Street with 150' of frontage and high visibility, less than a mile from Loop 250.
    We can help!
    Listing Contact
    Amy Brasher Barnett
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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