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

    4610 Garfield St Midland, TX 79705

    • Office space
    • 107,422 SF
    For Lease
    View listing
    $13 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-0285221
    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

    • Permian Basin Oral Surgery & Dental Implant Center / Dentist / Dental Implants Periodontist
    • We Rock the Spectrum - Midland / Gym
    • Trinity Salon & Spa / Hair Salon
    • LibertyX Bitcoin ATM / Atm
    • Precision Bodyworks / Massage Therapist / Physical Fitness Program

    Property Details for 4610 Garfield St

    Property size
    107,422 SF
    Property type
    Office space
    Property subtype
    Medical offices

    Description

    The Colonnade at Polo Park, a premier 107,422 square foot commercial center in Midland, Texas, offers exceptional office space for lease. Located at the northeast corner of Loop 250 and North Garfield Street, this Class B property boasts five single-story buildings and provides convenient access to Midland College and Midland Executive Airport. Currently, 11,720 square feet of space is available, with flexible options ranging from 832 to 10,888 contiguous square feet. The property's diverse tenant mix includes established restaurants and retailers, creating a vibrant and high-traffic environment. Suitable for various office uses, including traditional, executive, medical, and creative office spaces, this location presents a unique opportunity for businesses seeking a prominent presence in a thriving Midland community. The property's multiple building configuration allows for a variety of space configurations to meet diverse business needs. This is an excellent opportunity to establish or expand your business in a well-established and highly visible location. The property is well-suited for a range of businesses, from small startups to larger established companies. The flexible lease terms and available space sizes offer considerable adaptability for various business models.

    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
    -102.11225315
    Latitude
    32.03948659

    Comparable in this City

    • $30 SF/Yr
      4,500 SF

      Pagosa Shopping Center: Midland, TX

      Retail/Office Space Available in Growing Area
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    • $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
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      35,754 SF

      Midland Retail Center Opportunity

      Prime Midland location, multiple suites available
      3303 Midkiff Rd, Midland, TX 79705
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      98,000 SF

      Executive Suites, North Midland

      Class A Office Space Available Now
      4000 Big Spring St, Midland, TX 79705
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    • $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
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    • $28 SF/Yr
      1,250 SF

      New Retail Space Available

      New retail shopping center in a growing residential area.
      6409 N Big Spring St, Midland, TX 79705
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    Similar Nearby for Sale

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      5,487 SF

      Versatile Retail and Office Space

      Retail and office space available for sale in Midland, TX.
      2901 N Big Spring St, Midland, TX 79705
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    • $1,200,000
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      Renovated Versatile Commercial Building

      3,200 SF renovated building on 0.63-acre lot for sale.
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      New Drive-Thru Golden Chick Restaurant

      New Golden Chick in Midland, TX with 15-year absolute NNN lease.
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    • $1,499,000
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      Event and Entertainment Center

      Turn-key event and entertainment center on 1.66 acres.
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    • $2,290,000
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      Midland Restaurant with High Traffic

      Restaurant property with high traffic location and ample parking.
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      96,711 SF

      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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    Similar Nearby for Lease

    • $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
    • $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
    • Contact for pricing
      35,754 SF

      Midland Retail Center Opportunity

      Prime Midland location, multiple suites available
      3303 Midkiff Rd, 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
    • $28 SF/Yr
      1,250 SF

      New Retail Space Available

      New retail shopping center in a growing residential area.
      6409 N Big Spring St, Midland, TX 79705
      View Details

    Property Visit Statistics

    • Visits by month
      14.3k
    • Visitors by month
      10.7k
    • Avg Time on site
      41 min
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    4610 Garfield 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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