1305 Illinois Ave Midland, TX 79701
This 2,194 square foot, single-story Class B office building in Midland, Texas, presents a unique investment opportunity. Built in 1975 and renovated in 2020, the property boasts a fresh interior and exterior, including a spacious great room with a fireplace, ideal for a reception area. Multiple office spaces cater to diverse business needs or multi-tenant occupancy. Zoned O-1, it offers versatile commercial or residential use. The 0.251-acre lot provides ample parking with 10+ paved spaces in front and rear. Located in Midland's historic district, this property offers high visibility and accessibility, benefiting from the area's strong economic fundamentals and growth potential. The building is privately held and features a functional layout, making it an attractive option for owner-users or investors seeking a blend of classic charm and modern updates. Available for occupancy October 8, 2024. APN: R000051720.
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Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
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Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
Costs & Benchmarks
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Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.