Coco Bananas 2308 W Front St 6,720 SF Flex Building Midland, TX 79701 $775,000 ($115.33/SF) 9.54% Cap Rate

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 2308 West Front Street in Midland, Texas, leased to Coco Bananas. The subject property consists of approximately 6,720 square feet of flex space and is situated on 0.31 acres of land. The single-tenant asset features tilt-wall construction and one grade-level door. With prime frontage along Front Street, the property has proximity to Interstate 20, the main corridor connecting Midland to Odessa. The tenant is signed to a triple net lease at $11.00 per square foot that expires at the start of September 2029. In business since 2015, Coco Bananas specializes in women’s contemporary apparel, accessories, and gifts. In 2025, Coco Bananas was voted Best in the Basin and awarded the Gold Boutique of Midland by the Midland Reporter-Telegram.
The subject property is well-positioned within the energy-dependent Midland market, containing 22.4 million square feet of industrial space. In 2025, net absorption bucked the national trend and experienced a significant rebound, rising 363.5 percent to over 218,000 square feet. However, supply outpaced demand as about 651,000 square feet of net deliveries expanded the inventory. As a result, the vacancy rate in Midland increased to 8.6 percent. The increase in availability helped contract annual market rent growth by -0.9 percent last year. With less than 67,000 square feet of industrial space under construction (representing less than 1.0 percent of inventory), vacancies should decline going forward if demand continues to rise (CoStar). Given the dollar’s ongoing decline in exchange value, key global commodities priced in dollars, namely oil and gas, are expected to find support in 2026 and eventually rise. This makes Midland a great buying opportunity thanks to the relationship between higher energy prices and local industrial demand.
Located in West Texas, the Midland-Odessa metro is considered to be an energy capital as the Permian Basin is one of the biggest oil fields in the world and is home to some of the largest petroleum-producing companies. The metro consists of Martin, Midland, and Ector counties. The public sector is a top job provider, but the private sector is the economic driving force. The two largest cities are Midland with over 140,000 residents and Odessa with roughly 123,000 residents (CoStar).
Midland is the center of America’s oil and gas production. Petroleum production and all things in between are prevalent in the area, but Midland is making great efforts and success in diversifying into additional industries such as aerospace. Interstate 20 runs through Midland, making it easy to transport goods and raw materials throughout the country. Rated the No. 1 state for business by U.S. corporate executives, this is an excellent place to start or grow a business in Texas. (midlandtxedc.com). Major employers include: Halliburton, Hilliard, Legacy Reserves, Midland College, Midland Health, Patterson-UTI, Pioneer Natural Resources, Schlumberger, Weatherford, Baker Hughes, Chevron, ConocoPhillips, Bloomberg, and more.