6811 Fm 1788 Midland, TX 79707
- Retail properties
- 9,026 SF
- 1.33 lot acres
Current Use by Public Records
- Dollar General / Convenience Store / Discount Store
- Western Union / Money Transfer Service
Property Details for 6811 Fm 1788
- Year built
- 2016
- Lot size
- 1.33 lot acres
- Property size
- 9,026 SF
- Property type
- Retail properties
- Property subtype
- Retail space
Description
This exceptional investment opportunity presents a 9,026-square-foot Dollar General store located at 6811 FM1788, Midland, TX 79707. The property sits on a 1.33-acre lot and boasts a strong 5.50% cap rate, generating a net operating income (NOI) of $90,904. The absolute triple-net (NNN) lease, with a corporate guarantee, features a remaining term of approximately 7.4 years, extending to April 29, 2032, with three, five-year renewal options. Rent increases by 10% every five years, ensuring consistent income growth. Built in 2016, this property benefits from its location along FM1788, providing high visibility and accessibility. The Midland location is strategically positioned within a thriving market, with a significant population base and robust economic growth projected in the Permian Basin. The property's proximity to major roadways and a substantial population within a 15-mile radius ensures consistent customer traffic. The average household income within a 5-mile radius exceeds $174,800, indicating strong consumer spending power. This investment offers a compelling combination of a stable, high-performing tenant, a favorable lease structure, and significant growth potential in a dynamic market. The asking price is $1,652,800, translating to a price per square foot of $183.12. This is a tax-free state investment.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Midland
- County
- Midland
- State
- Texas
- Longitude
- -102.273
- Latitude
- 32.0345
