3303 N Midkiff Rd - Storefront FOR SALE


Midland, TX 79705
$21,385,000 USD
214-335-4068
3303 N Midkiff Rd, Midland, TX for Sale
$21,385,000 USD
Storefront - FOR SALE
1/10
null | 6.35% Cap Rate

3303 N Midkiff Rd
Midland, TX 79705


HIGHLIGHTS

  • Open Air Lifestyle Retail Shopping Destination Located at a Signalized Intersection Across from H-E-B in Affluent Submarket of Midland, TX
  • Rents Average Just $22.31 PSF NNN
  • Priced Significantly Below Replacement at $279.92 PSF for an Open Air Lifestyle Shopping Center
  • Average Household Income Exceeds $138,900, $133,100 & $128,000 in a 1-, 3- & 5-Mile Radii Respectively
  • Hard Corner of Midkiff Road & Wadley Avenue Intersection (Combined 50,600+ VPD)

OVERVIEW

San Miguel Square is a 83.64% leased 76,396 SF open air lifestyle retail shopping destination located across from one of the top performing H-E-B locations (Neilsen & Placer.AI) within an affluent submarket of Midland, Texas. A generational investment opportunity, the Property was fully renovated in 2021 and is across the street/shadowed to a top-performing H-E-B Grocery store. San Miguel Square is on +/- 4.87 Acres at the signalized intersection of Midkiff Road and Wadley Avenue and boasts a complimentary mix of retail, soft goods, service, restaurant and medical tenants with rents averaging just $22.31 PSF NNN. San Miguel Square benefits from shallow bay depth, an average suite size of 2,634 SF for retail shop space, engaging southwest motif architectural elements, multiple ingress/egress points, and a large highly visible two-sided pylon sign. The Property benefits from exceptional demographics in which the average household income exceeds $138,900, $133,100 and $128,000 in a one-, three- and five-mile radii, respectively. Notable retailers in the immediate area include H-E-B, Walgreens, H-E-B Fuel, Starbucks, Lululemon, Coach, ULTA Dick’s Sporting Goods and Chase Bank amongst others.

FOR SALE DETAILS

PRICE

$21,385,000 USD

PRICE/SF

$279 USD /SF

CAP RATE

6.35%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

San Miguel Square

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

ADD'L SUBTYPES

Restaurant, Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1979

SPRINKLERS

-

PARKING SPACES

314

LAND DETAILS

LAND ACRES

4.87 AC

LAND SF

212,137 SF

ZONING

LR2

APN/PARCEL ID

R000039-794

ASK ABOUT THIS PROPERTY

Tommy TuckerSHOP CompaniesMore Info
214-335-4068

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Tommy TuckerSHOP CompaniesMore Info
214-335-4068

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