Ashley HomeStore NNN
5210 Preston Dr, Midland, TX 79707
For Sale
Contact for pricing
The Midland retail property is identified with the Ashley HomeStore name and classified as an NNN asset.
Property Size62,248 SF
Price / SF$221.03
Days on Market15
Property Features for 5210 Preston Dr
General Information
Standard status
Size
Property subtype
Additional Details
Cap Rate
Listing Agency:
Cushman & Wakefield - Phoenix, Arizona
Listed By:
Chris Hollenbeck · License TX SA584876000
(602) 538-7155
Source:
Crexi
Added: Oct 26
Changed: Nov 8
Last Checked: Nov 8 at 4:11PM
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 Cushman & Wakefield - Phoenix, Arizona
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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.
The property is a retail asset associated with the Ashley HomeStore name. Its reported building area is 62,248 square feet, and the listing provides a 6.50% cap rate.
The property is located at 5210 Preston Dr in Midland, Texas.
The property is located at 5210 Preston Dr in Midland, Texas.
Key Highlights
- 62,248‑square‑foot retail property
- 6.50% cap rate
- Located at 5210 Preston Dr, Midland, TX 79707
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$607,852
Cap Rate
4.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$12,157,040
$12.2M
Cap Rate 7%
$8,683,600
$8.7M
Cap Rate 9%
$6,753,911
$6.8M
Market Conditions
NOI Build-Up for 62,248 SF
Gross rent
$933.7K $15.00/SF
− Vacancy
−$65.4K −$1.05/SF
EGI
$868.4K $13.95/SF
− OpEx
−$260.5K −$4.19/SF
NOI
$607.9K $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%
$12,157,040
Cap Rate 7%
$8,683,600
Cap Rate 9%
$6,753,911
Alternative Uses
Best Use
Retail
$8.68M
$7.60M – $10.13M
NOI $607,852 @ 7.0% cap · market cap 4.42%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$14.68M
$12.85M – $17.13M
NOI $1,027,839 @ 7.0% cap · market cap 7.47%
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
400
Businesses Nearby
293k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 36%
Dining 27%
Home Improvements & Furnishings 21%
Shops & Services 8%
Academy Sports + Outdoors
Apparel
61,572 visits/mo
0.3 miles
Lowe's
Home Improvements & Furnishings
48,983 visits/mo
0.5 miles
Kohl's
Apparel
39,675 visits/mo
0.1 miles
Cracker Barrel Old Country Store
Dining
24,254 visits/mo
0.2 miles
Buffalo Wild Wings
Dining
12,926 visits/mo
0.2 miles
Demographics for 79707, TX
37,632
Population
16,654
Households
2.3
Avg Household Size
35
Median Age
41%
College-Educated
91%
High-School Grad
71.0 sq mi
ZIP Area
530
Density / Sq Mi
$99,979
Median Household Income
$58,351
Median Earnings
$1,383
Median Rent
$382,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for NNN properties in Midland, TX
Properties on Market for NNN properties in Midland
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
NNN property - The Midland retail property is identified with the Ashley HomeStore name and classified as an NNN asset.
Where is this nnn property located?
The property is located at 5210 Preston Dr Midland, TX.
What is the asking price?
The asking price for this property is $13,758,552.
What are key features of this property?
This property features: 62,248‑square‑foot retail property; 6.50% cap rate; Located at 5210 Preston Dr, Midland, TX 79707
