AT&T Midland 3301 N Midkiff Rd 4,000 SF Retail Building Midland, TX 79705 $2,437,165 ($609.29/SF) 6.35% Cap Rate

AT&T (the “Property”) is a freestanding, single-tenant retail asset located at the hard corner of North Midkiff Road and West Wadley Avenue in Midland, Texas.? The Property benefits from excellent visibility, multiple ingress/egress points, a two-sided pylon sign, and combined traffic counts exceeding 50,600 vehicles per day.? Positioned directly across from H-E-B, the asset sits within one of Midland’s dominant retail corridors and is surrounded by national and regional retailers including Walgreens, H-E-B Fuel, Whataburger, Starbucks, Nothing Bundt Cakes, Rusty Taco, Monarch Dental, Club Pilates, I Luv Pho, and Mint Salon.?
Built in 2012, the Property consists of a 4,000-square-foot building situated on approximately 0.52 acres.? AT&T occupies the entire building under a NN lease structure with limited landlord responsibilities.? The tenant reimburses taxes, insurance, common area maintenance, and management fees, while the landlord remains responsible for roof and exterior structure repairs.? The lease runs through December 31, 2027, with one remaining five-year renewal option that includes a 10% rent increase.?
The Property offers investors the opportunity to acquire a stabilized, cash-flowing single-tenant net lease asset backed by investment-grade credit.? AT&T exercised its first five-year renewal option in 2022, demonstrating commitment to the site and the strength of the underlying trade area.? Current annual rent is $154,760, or $38.69 per square foot, with renewal option rent increasing to $170,240, or $42.56 per square foot.?