3205 Wall St Midland, TX 79701

Property Details for 3205 Wall St

Year built

1958

Lot size

5.38 lot acres

Property size

38,164 SF

Property type

Retail space

Property subtype

Storefront properties

Description

This exceptional 38,164-square-foot retail property, situated on a 5.38-acre lot in Midland, Texas, presents a compelling investment opportunity. Located on West Wall Street, this prime location boasts approximately 620 feet of frontage and benefits from high traffic counts, averaging 14,841 vehicles daily, according to the 2022 TxDOT Annual Average Daily Traffic report. The property comprises four buildings, offering flexibility for various development scenarios, including potential subdivision and separate leasing. Currently occupied by Sewell Automotive under a lease expiring January 31, 2027, the tenant has indicated they will not renew. The current lease generates a monthly net rent of $30,000. The property is zoned RR & C, permitting a wide range of uses, including auto sales, restaurants, car washes, and more. City utilities, police and fire protection are readily available. The asking price is $5,530,000, translating to $144.90 per square foot. This property is outside of any designated flood-prone areas and offers significant potential for future income generation and appreciation. The property's size, location, and zoning flexibility make it an ideal investment for discerning buyers seeking a high-traffic, versatile commercial asset in a thriving Texas market.

Location Insight

City

Midland

County

Midland

State

Texas

Longitude

-102.1075729

Latitude

31.9838748