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    1506 Garden City Hwy Midland, TX 79706
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    1506 Garden City Hwy Midland, TX 79706

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    • Commercial land
    For Sale
    $1,200,000
    View Listing →
    Prime Land in Growing Area For Sale
    $1,200,000

    Prime Land in Growing Area

    2.276 acres with high visibility near I-20.

    1506 Garden City Hwy, Midland, TX 79701
    View Listing
    Property ID
    US82-1291553
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial land

    Property Details for 1506 Garden City Hwy

    Property type
    Commercial land
    Property subtype
    Commercial real estate

    Description

    FOR SALE - Incredible Investment Opportunity in Rapidly Growing Area! Don't miss out on this prime piece of land, spanning 2.276 acres, available for purchase now. Featuring excellent visibility with an impressive 14,057 vehicles per day passing by, this location offers endless possibilities for development. Located in close proximity to I-20, Downtown Midland, and popular establishments like Whataburger, Kent Kwik Convenience, and Flying J Travel Center, this property is situated in a high-traffic area. With Midland experiencing rapid growth, this is the perfect opportunity for investors or developers looking to capitalize on the rising demand. Whether you're envisioning an industrial site, retail, or office complex, this prime land offers endless potential to meet the needs of the expanding community. Contact us today to learn more about this development site and how it can be the foundation for your next successful project.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Midland
    County
    Midland
    State
    Texas
    Longitude
    -102.055133
    Latitude
    31.986949

    Comparable in this City

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      2.65 Acres

      High-Traffic Commercial Land Opportunity

      2.65 acres with high visibility, ideal for redevelopment.
      3301 W I-20, Midland, TX 79701
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      Prime Land I-20 Frontage

      5.33 acres of commercial land with I-20 frontage.
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    • $4,537,200

      Commercial Land in North Midland

      Prime commercial land for retail development in high-traffic area.
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    • $500,000
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      Corner Lot Ready for Business

      Corner lot near downtown, accessible to Highway 80.
      501 Texas Ave, Midland, TX 79701
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    • $225,000
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      Downtown Office Development Opportunity

      Cleared lot zoned for office use in thriving downtown Midland.
      803 N Marienfeld St, Midland, TX 79701
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      Commercial Land Redevelopment Opportunity

      4.95-acre commercial land with redevelopment potential in south Midland.
      1707 W Francis Ave, Midland, TX 79701
      View Details

    Similar Nearby for Sale

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      Prime Midland Land Parcel

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    • $365,000
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      Prime Midland Land Parcel Available

      3.44 acre commercial land parcel in Midland, Texas.
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      27,000 SF

      Prime Downtown Midland Corner Lot

      27,000 sq ft corner lot in downtown Midland.
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      Land For Sale

      0.115 +/- AC of land with seller financing.
      2412 Rankin Hwy, Midland, TX 79701
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    • $367,500

      Midland Land Tracts For Sale

      2-5 acre lots available for build to suit.
      2119 E Indiana Ave, Midland, TX 79701
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    • $475,000
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      Corner Lot in Midland, TX

      Three lots totaling over half an acre near downtown.
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    Similar Nearby for Lease

    • Contact for pricing

      Downtown Midland Commercial Land For Rent

      0.48 acre lot in Midland's Central Business District.
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      6,000 SF

      Midland Retail Center Redevelopment

      Prime Midland Retail Space Available
      2301 Wall St, Midland, TX 79701
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      Freestanding Office Building For Lease

      Freestanding office building with secured yard on West I-20.
      3305 I-20, Midland, TX 79701
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    • $25 SF/Yr
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      Downtown Midland Office Sublease

      Office space in downtown Midland near amenities and attractions.
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      8,100 SF

      Industrial Facility with Secured Yard

      8,100 SF industrial facility with 2.49 acre secured yard.
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      View Details
    • Contact for pricing

      Downtown Midland Office Space Available

      Five-story office tower in Midland's central business district for lease.
      110 W Louisiana Ave, Midland, TX 79701
      View Details
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    Midland, TX 79706
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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.

    More about this property
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