2201 Texas Ave Midland, TX 79701

Property Details for 2201 Texas Ave

Year built

2024

Lot size

0.48 lot acres

Property size

510 SF

Property type

Retail space

Property subtype

Storefront properties

Description

This exceptional investment opportunity presents a brand-new, 510-square-foot 7 Brew drive-thru coffee shop situated on a 0.48-acre lot in Midland, Texas. Built in 2024, the property boasts a 15-year absolute NNN ground lease with a corporate guarantee, commencing February 1, 2024, and expiring February 1, 2039. The lease includes three 5-year renewal options and features a 10% rent increase every five years. The property's strategic location at the signalized intersection of W Wall Street (14,800+ vehicles per day) and Andrews Highway (33,567+ vehicles per day) provides exceptional visibility and accessibility. Its adjacency to Midland Memorial Hospital, the largest hospital in the Midland-Odessa area, with over 2,500 employees, 225+ beds, and over $1.3 billion in annual revenue, ensures a substantial customer base. The surrounding area demonstrates strong demographics, with average household incomes exceeding $133,000 within a 1, 3, and 5-mile radius. The 5-mile radius encompasses over 135,000 people. The property offers a 6.00% cap rate with a net operating income (NOI) of $119,500 and an asking price of $1,991,700 ($3,905.29 per square foot). 7 Brew's unique drive-thru business model contributes to its high annual revenue exceeding $2.4 million. Midland's projected growth as one of the fastest-growing mid-sized cities in the country, coupled with a Metropolitan Statistical Area (MSA) population exceeding 338,085, further enhances the investment potential. This is a rare opportunity to acquire a high-performing, low-maintenance investment property in a thriving market.