3301 N Midkiff Rd - Retail FOR SALE


Midland, TX 79705
$2,437,165 USD
214-621-2965
3301 N Midkiff Rd, Midland, TX for Sale
$2,437,165 USD
Retail - FOR SALE
1/5
null | 6.35% Cap Rate

3301 N Midkiff Rd
Midland, TX 79705


HIGHLIGHTS

  • ?Hard Corner Retail Location: The Property is strategically positioned at the intersection of North Midkiff Road and West Wadley Avenue 50K VPD
  • ?Investment-Grade Credit Tenant: AT&T is rated “BBB” by S&P and “Baa2” by Moody’s, both considered investment-grade ratings.
  • ?Top-performing AT&T location: Ranked #1 in the Midland trade area, within the top 25% of all Texas locations, and the top 21% nationwide.
  • ?Directly Across from H-E-B: The site benefits from its location across from H-E-B and H-E-B Fuel, creating consistent consumer draw.
  • ?Surrounded by National Retailers: Nearby retailers include H-E-B, Walgreens, Whataburger, Starbucks, Nothing Bundt Cakes, Rusty Taco

OVERVIEW

AT&T (the “Property”) is a freestanding, single-tenant retail asset located at the hard corner of North Midkiff Road and West Wadley Avenue in Midland, Texas.? The Property benefits from excellent visibility, multiple ingress/egress points, a two-sided pylon sign, and combined traffic counts exceeding 50,600 vehicles per day.? Positioned directly across from H-E-B, the asset sits within one of Midland’s dominant retail corridors and is surrounded by national and regional retailers including Walgreens, H-E-B Fuel, Whataburger, Starbucks, Nothing Bundt Cakes, Rusty Taco, Monarch Dental, Club Pilates, I Luv Pho, and Mint Salon.? Built in 2012, the Property consists of a 4,000-square-foot building situated on approximately 0.52 acres.? AT&T occupies the entire building under a NN lease structure with limited landlord responsibilities.? The tenant reimburses taxes, insurance, common area maintenance, and management fees, while the landlord remains responsible for roof and exterior structure repairs.? The lease runs through December 31, 2027, with one remaining five-year renewal option that includes a 10% rent increase.? The Property offers investors the opportunity to acquire a stabilized, cash-flowing single-tenant net lease asset backed by investment-grade credit.? AT&T exercised its first five-year renewal option in 2022, demonstrating commitment to the site and the strength of the underlying trade area.? Current annual rent is $154,760, or $38.69 per square foot, with renewal option rent increasing to $170,240, or $42.56 per square foot.?

FOR SALE DETAILS

PRICE

$2,437,165 USD

PRICE/SF

$609 USD /SF

CAP RATE

6.35%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

AT&T Midland

PROPERTY TYPE

Retail

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2012

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.52 AC

LAND SF

22,651 SF

ZONING

F1

APN/PARCEL ID

R000039-792

ASK ABOUT THIS PROPERTY

Ryan GriffinEDGE Realty PartnersMore Info
214-621-2965

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Ryan GriffinEDGE Realty PartnersMore Info
214-621-2965

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.