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    5501 Starboard Dr Midland, TX 79706

    For Sale
    $1,950,000

    2.34-acre commercial lot in prime Midland location.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    366
    This exceptional 2.34-acre commercial land parcel presents a remarkable investment opportunity in Midland, Texas. Located at 5501 Starboard Drive, this property is zoned for commercial use and boasts a highly desirable location within the Gateway Plaza, situated in the rapidly growing Tradewinds Boulevard Corridor in southwest Midland. The Gateway Plaza is already home to a thriving mix of businesses, including an 11-screen Cinergy Cinemas, Hawthorn Suites hotel, Four Points by Sheraton hotel, Gateway Plaza Apartments, RIG-ID, Cafe Nitro, and a two-story office building, ensuring high visibility and strong potential for future development. The property's strategic location benefits from exceptional traffic counts, with Interstate 20 seeing 29,100 vehicles daily and Loop 250 registering 47,442 vehicles daily, providing significant exposure to potential customers. Further enhancing its appeal, this property is not located within a floodplain, mitigating potential risk. The asking price for this prime commercial land is $1,950,000. This presents a unique chance to capitalize on the robust growth and development within this dynamic area of Midland, Texas. The property's size and location make it ideal for a variety of commercial ventures. The existing infrastructure and established businesses in the Gateway Plaza provide a strong foundation for success.

    Property Features for 5501 Starboard Dr

    General Information

    Property type
    Land
    Lot Size
    101,930 SF

    HighLights

    • Property located outside of the floodplain.
    • High traffic counts on I‑20, averaging 29,100 vehicles daily.
    • Excellent visibility and access with 47,442 vehicles daily on Loop 250.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Midland
    County
    Midland
    State
    Texas
    Longitude
    -102.1437996
    Latitude
    31.9638842

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    FAQs

    What type of property is this?
    Land - 2.34-acre commercial lot in prime Midland location.
    Where is this land located?
    The property is located at 5501 Starboard Dr Midland, TX.
    What is the asking price?
    The asking price for this property is $1,950,000.
    What are key features of this property?
    This property features: Property located outside of the floodplain.; High traffic counts on I-20, averaging 29,100 vehicles daily.; Excellent visibility and access with 47,442 vehicles daily on Loop 250.
    (806) 784-3298
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    5501 Starboard Dr Midland, TX 79706
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    Realmo Value Estimation

    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.

    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.

    Alternative use

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

    More about this property
    5501 Starboard Dr Midland, TX 79706
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