1602 Tarleton St 4,000 SF Office Building Midland, TX 79703 $1,600,000 ($400/SF) 7.77% Cap Rate

FOR SALE: CLASS A OFFICE INVESTMENT – BUILT 2023
1602 Tarleton St, Midland, TX 79703
Offered at: $1,600,000 | Net Income: $124,383/year | Cap Rate: ±7.77%
Property Description
1602 Tarleton is a newly constructed (2023) Class A office duplex located in a professional garden office park just off Midkiff Road and Andrews Highway—one of Midland’s most prominent commercial intersections. The property features modern architecture, high-end interior finishes, and a functional layout ideal for professional tenants.
The building is fully leased to two quality tenants, each with approximately three years remaining on their current leases. With net operating income of $124,383 annually and a cap rate of ±7.77%, this asset offers investors a turnkey, income-producing opportunity in a high-demand market.
Perfect for passive investors or 1031 exchange buyers, this property requires minimal management and benefits from excellent access, visibility, and a surrounding mix of medical, legal, and professional service users.

Highlights
New Construction (2023) — No deferred maintenance
Fully Leased — Two stable tenants
Net Operating Income: $124,383/year
Cap Rate: ~7.77%
Prime Midland Location — Just off Midkiff & Andrews Hwy
Ample Surface Parking in a quiet garden office setting
Location Benefits
High-traffic area near major roads and commercial hubs
Strong surrounding tenant mix in medical, legal, and professional sectors
Convenient to Loop 250 and downtown Midland