Marcus & Millichap is pleased to offer the opportunity to acquire a 117,642-square foot multi-tenant retail center in Midland, Texas. The center is currently 100 percent occupied, with 86 percent of the gross leasable area having credit tenants. Anchored by Bob Mills Furniture, other tenants include EntertainMART, Dollar General, and Fit Results gym. All leases are triple net and have two five-year options for renewal. The building was originally constructed in 1967 and sits on 6.77 acres.
The subject property is located on West Cuthbert Avenue on lot west of the intersection with Andrews Highway. Traffic counts on Cuthbert Avenue are approximately 8,500 vehicles per day and 31,000 vehicles per day on Andrews Highway. Neighboring national and regional retailers include Rosa’s Café, Furr’s Fresh Buffet, Planet Fitness, O’Reilly Auto Parts, Kool Smiles, Little Caesars, Dollar Tree, Liberty Tax, Comet Cleaners, McDonald’s, Schlotzsky’s Deli, Albertsons, Ace Hardware, Family Dollar, Whataburger, Wendy’s, Long John Silvers, among others. The surrounding area has strong demographics, with a five mile population of 127,700 and an average household income exceeding $87,500.
Midland is a city in West Texas, conveniently located on Interstate 20, halfway between Fort Worth and El Paso. Easily accessible, it boasts Midland International Air & Space Port, serviced daily by American, Southwest, and United Airlines. Midland is a thriving community in the heart of the Permian Basin oil region, which is the second largest oil and gas shale in the world.
- Big Box Multi-Tenant Retail Center in Midland, Texas
- 100% Occupied | All Leases are Triple Net
- Anchored by Bob Mills Furniture | Other Tenants Consist of Dollar General, EntertainMART, and Fit Results Gym | 86% of the GLA has Credit Tenants
- All Leases have Two Five-Year Options for Renewal
- Situated on Large 6.77 Acres
- Priced at $70 per Square Foot | Well Below Replacement Cost
- Located on Cuthbert Avenue One Lot from Andrews Highway
- Traffic Counts are 8,500 Vehicles per Day on Cuthbert and 31,000 Vehicles per Day on Andrews Highway
- Numerous National and Regional Retailers in the Area
- Strong Demographics | Five Mile Population is 127,700 | Annual Household Income Exceeds $87,500
- MIdland is Located in West Texas, halfway between Fort Worth and El Paso
- In the Heart of the Permian Basin | Second Largest Oil and Gas Shale in the World
- Exxon Mobile Recently Announced Plans to Triple Its Production of Oil and Chemical Feedstocks in the Permian Basin
- Tied with Amarillo as having the State’s Lowest Unemployment Rate at 2.6 Percent
