401 W Texas Ave - Office FOR SALE


Midland, TX 79701- Downtown Midland
$2,500,000 USD
432-682-2510
401 W Texas Ave, Midland, TX for Sale
$2,500,000 USD
Office - FOR SALE
1/26
null | Request Cap Rate

401 W Texas Ave
Midland, TX 79701
Downtown Midland


HIGHLIGHTS

  • Midland Charms offers a 10-story, 108,000-square-foot office tower at the heart of Downtown Midland, formerly the HQ for Community National Bank.
  • Blending classic style with modern upgrades, the building’s spacious and efficient layouts are ideal for both large and small businesses.
  • Premium amenities include a secure vault, safe boxes, banking spaces, affordable utilities, and ample downtown parking for tenants.
  • Prime signalized corner location, walkable to the Convention Center and Centennial Plaza, with daily exposure to over 21,000 vehicles daily.
  • Midland’s office market is growing, with asking rents rising 2.5% year-over-year, outpacing the overall national performance.
  • Over 125,000 residents live within 5 miles, with more than 27% holding at least a bachelor’s degree, providing a strong hiring pipeline.

OVERVIEW

Discover the rare opportunity to acquire Midland Charms, an iconic 10-story office tower centrally located at 401 W Texas Avenue in Downtown Midland, Texas. Offering 108,000 square feet of well-maintained, flexible office space, this building seamlessly blends classic style with modern functionality, catering to a diverse range of businesses both large and small. This rare opportunity is ideal for value-add investors seeking a robust lease upside, as well as growing businesses seeking to offset costs by leasing unutilized suites. Midland Charms stands out for its robust infrastructure and regular upgrades since its original construction in 1954. The property attracts tenants with affordable utility rates via central heating and air, ample downtown parking, and a variety of floor plans, with options including fully built-out suites as well as flexible open layouts. Additionally, all the spaces enjoy large windows and great natural light and several of the suites feature sweeping views of Centennial Plaza, Downtown Midland, and the Convention Center. Formerly the headquarters of Community National Bank, the building includes premium amenities such as a secure vault, safe boxes, and well-appointed banking spaces. Situated at the busy intersection of Texas Avenue and Big Spring Street, Midland Charms benefits from exposure to over 21,000 vehicles daily. Its prime location places tenants within walking distance of the Bush Convention Center, Centennial Park, City Hall, and the Petroleum Club of Midland. Top-rated restaurants and entertainment options are just steps away, and with Front Street and Interstate 20 nearby, reaching the property from across the greater metro is quick and easy for commuters and clients alike. The Midland office market is on the rise, with local office rents growing 2.5% year-over-year, outpacing the national performance. Already known as the hub of the oil and gas industries, Midland is rapidly growing in the aerospace, agriculture, healthcare, retirement facility, and transportation sectors. The surrounding area supports continued growth, boasting a population of over 125,000 within 5 miles, a daytime workforce of over 58,000, and nearly 7,000 businesses. With more than 27% of residents holding a bachelor’s degree or higher, the local talent pool is well equipped to support new and expanding businesses. Don’t pass up this rare chance to help shape the future of Downtown Midland with the acquisition of Midland Charms. Property tours are by appointment only; please contact the Moriah Group to schedule a tour and learn more about this incredible opportunity.

FOR SALE DETAILS

PRICE

$2,500,000 USD

PRICE/SF

$23 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

Downtown Multi-Tenant Office Building

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

10

BUILDING CLASS

B

YEAR BUILT

1954

SPRINKLERS

-

PARKING SPACES

25

LAND DETAILS

LAND ACRES

0.67 AC

LAND SF

29,185 SF

ZONING

CB

APN/PARCEL ID

R000035-325

ASK ABOUT THIS PROPERTY

Wes GotcherMoriah GroupMore Info
432-682-2510

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

Wes GotcherMoriah GroupMore Info
432-682-2510

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