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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2408 Big Spring St Midland, TX 79705

    • Commercial real estate
    • 16,828 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-0354134
    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.

    Current Use by Public Records

    • Professional Lube Management / Oil Change Service

    Property Details for 2408 Big Spring St

    Property size
    16,828 SF
    Property type
    Commercial real estate

    Description

    This exceptional two-story office building, totaling approximately 16,828 square feet of Net Rentable Area (NRA), is strategically located on high-traffic Big Spring Street in Midland, Texas, offering convenient access to Loop 250. The property sits on a sizable lot of approximately 26,000 square feet, providing ample space for parking. The building features a well-designed executive office layout spread across two stories, complete with an elevator for easy access to all levels. Parking is readily available, with both covered and surface options to accommodate tenants and visitors. The building is currently vacant due to the owner's relocation to a larger facility. This presents a unique opportunity for a business seeking a substantial, well-maintained office space in a prime Midland location. The property's size, location, and amenities make it an ideal investment for a variety of commercial uses. The single-tenant occupancy allows for immediate use or customization to suit a specific business's needs. Located in Midland County, Texas, with a 79705 zip code, this property offers excellent visibility and accessibility. The building's design and features are well-suited for a range of professional businesses. Contact us today to learn more about this outstanding opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Midland
    County
    Midland
    State
    Texas
    Longitude
    -102.0806208
    Latitude
    32.0223489

    Comparable in this City

    • Contact for pricing
      98,000 SF

      Executive Suites, North Midland

      Class A Office Space Available Now
      4000 Big Spring St, Midland, TX 79705
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      Midland, TX Office Suites Available
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      Unique Office Space in Midland

      Plug-and-play office space in the Claydesta area.
      15 Smith Rd, Midland, TX 79705
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      4,500 SF

      Pagosa Shopping Center: Midland, TX

      Retail/Office Space Available in Growing Area
      6900 Tx-349, Midland, TX 79705
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      35,754 SF

      Midland Retail Center Opportunity

      Prime Midland location, multiple suites available
      3303 Midkiff Rd, Midland, TX 79705
      View Details

    Similar Nearby for Sale

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      Renovated Versatile Commercial Building

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      Midland, TX Executive Office Building

      Class A Office, 96,711 SF, 14.71 Acres
      4000 Big Spring St, Midland, TX 79705
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      Land For Sale, Midland, TX

      Land available in Midland, TX, priced per acre.
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    Similar Nearby for Lease

    • $30 SF/Yr
      1,395 SF

      Unique Office Space in Midland

      Plug-and-play office space in the Claydesta area.
      15 Smith Rd, Midland, TX 79705
      View Details
    • $13 SF/Yr
      107,422 SF

      Colonnade at Polo Park Offices

      Midland, TX Office Suites Available
      4610 Garfield St, Midland, TX 79705
      View Details
    • $30 SF/Yr
      4,500 SF

      Pagosa Shopping Center: Midland, TX

      Retail/Office Space Available in Growing Area
      6900 Tx-349, Midland, TX 79705
      View Details
    • Contact for pricing
      98,000 SF

      Executive Suites, North Midland

      Class A Office Space Available Now
      4000 Big Spring St, Midland, TX 79705
      View Details
    • $21 SF/Yr
      21,000 SF

      Modern Office Building For Rent

      Well-maintained office building with modern amenities and parking available.
      3510 N A St, Midland, TX 79705
      View Details
    • Contact for pricing
      35,754 SF

      Midland Retail Center Opportunity

      Prime Midland location, multiple suites available
      3303 Midkiff Rd, Midland, TX 79705
      View Details
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    2408 Big Spring St
    Midland, TX 79705
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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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