3229 Fairgrounds Rd Midland, TX 79705
- Commercial real estate
- 2,531 SF
- 3.00 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 3229 Fairgrounds Rd
- Lot size
- 3.00 lot acres
- Property size
- 2,531 SF
- Property type
- Commercial real estate
Description
This exceptional retail property, located at 3229 N Fairgrounds Rd, Midland, TX 79705, presents a compelling investment opportunity. The 2,531 square foot building sits on a 3-acre lot and is currently 100% occupied under a single, gross lease with one year remaining. The asking price is $2,000,000, translating to a price per square foot of $790.20. Benefiting from heavy daytime foot traffic, this property boasts a prime location, ideal for a variety of retail uses. Constructed in 1987, the building's history suggests a solid foundation and established presence within the community. The property's former use as a bank building further underscores its structural integrity and suitability for commercial purposes. This triple-net leased property offers a straightforward investment with immediate cash flow potential. The property's location at a major intersection (though the exact intersection isn't fully specified in the provided information) contributes significantly to its high visibility and accessibility. This is a rare opportunity to acquire a well-situated, income-producing retail property in a thriving Texas market. The substantial lot size offers potential for future expansion or development.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Midland
- County
- Midland
- State
- Texas
- Longitude
- -102.0590865
- Latitude
- 32.0342398
