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Property profile & analytics
OFF-MARKET
Commercial real estate

500 Texas Ave Midland, TX 79701

421,546 SF Built 1974
Entity Owned 8-yr Hold
Property ID
US83-3950540
Property summary
AI-generated overview

This exceptional Class A office space, totaling 6,885 square feet, presents a remarkable subleasing opportunity in the prestigious Fasken Center Tower Two, located at 500-550 West Texas Avenue in downtown Midland, Texas, zip code 79701. The building, constructed in 1974, boasts a total of 421,546 square feet and offers a prime location within Midland County. This traditional office space is perfect for businesses seeking a sophisticated and convenient downtown address. The suite's strategic placement provides easy access to major thoroughfares, including Wall Street, a key east-west artery. Furthermore, the property enjoys unparalleled proximity to a variety of amenities, including Centennial Park, the Bush Convention Center, diverse dining establishments, and the Midland County Library, all within walking distance. This is a rare opportunity to secure a substantial, high-quality office space in the heart of Midland's vibrant business district. The building is classified as a Class A property, reflecting its superior construction, amenities, and location. The available space is part of a multi-tenant building. This sublease opportunity offers immediate occupancy of a well-maintained space in a highly desirable location. Don't miss this chance to establish your business in a premier Midland address.

Property profile
Verified
Property type Commercial real estate
Year built 1974
Total area 421,546 SF
UPID US83-3950540
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Vision Natural Resources Factory Production Facility
  • Viper Energy Partners LP Gas Company
  • Mewbourne Oil Co Oil & Natural Gas Company Corporate Office
  • Republic Oil & Gas Co Gas Company
  • Mc Cabe Petroleum Corporation Oil & Natural Gas Company
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
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Blend (final) Blend
by Request
Owner & transaction history
Tall City Towers LLC · 8 yrs held
Tall City Towers LLC
since 2018
2 recorded transactions
2019
Price N/A
2018
Price N/A
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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