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Shopping Strip

Regency Shopping Center

2201 N Big Spring St, Midland, TX 79705

Listing Price: $2,756,000

Cap Rate
7.50%
Gross SF
21,997
Rentable SF
21,997
Price/Gross SF
$125.29
Lot Size
1.35 acres
Year Built
1960

Investment Overview

Marcus & Millichap is pleased to offer the opportunity to acquire a 21,997-square-foot, multi-tenant retail center in Midland, Texas. The center is currently 100 percent occupied with a complementary mix of internet-resistant and service-oriented businesses, including Nice & Clean Laundromat, Cricket Wireless, Lucky Massage Spa, Tripled Tattoo, World Finance Corporation, African Food Store, Happy Nails, Midland Vape & Smoke, and Royal Key Concierge. Current leases are on gross terms providing future upside potential in converting leases to triple-net. The building sits on two parcels totaling 1.35 acres.

Regency Shopping Center is located at the signalized, hard corner intersection of North Big Spring Street and West Scharbauer Drive. Traffic counts on North Big Spring Street are approximately 21,454 vehicles per day and 5,060 vehicles per day on West Scharbauer Drive. Neighboring national and regional retailers include O'Reilly Auto Parts, Dollar Tree, H&R Block, Rent-A-Center, Boost Mobile, Lone Star Title Loans, Whataburger, Family Dollar, and others. The surrounding area benefits from strong demographics, with a five-mile population of 129,381 and an average household income exceeding $107,009.

Investment Highlights

  • 21,997-Square-Foot, Multi-Tenant Retail Center Located in a Densely Populated Area
  • 100% Occupied with Internet-Resistant and Service-Oriented Businesses
  • All Leases are on Gross Terms | Current Average Rents are Below Market | Future Upside Potential
  • Priced at $125 per Square Foot | Below Replacement Cost
  • Signalized, Hard Corner Location at the Intersection of North Big Spring Street and West Scharbauer Drive | Easily Accessible from Multiple Ingress and Egress Points

Exclusively Listed By

Financing By

Shopping Strip

Regency Shopping Center

Listing Price: $2,756,000

Cap Rate
7.50%
Gross SF
21,997
Rentable SF
21,997
Price/Gross SF
$125.29
Lot Size
1.35 acres
Year Built
1960

Investment Highlights

  • 21,997-Square-Foot, Multi-Tenant Retail Center Located in a Densely Populated Area
  • 100% Occupied with Internet-Resistant and Service-Oriented Businesses
  • All Leases are on Gross Terms | Current Average Rents are Below Market | Future Upside Potential
  • Priced at $125 per Square Foot | Below Replacement Cost
  • Signalized, Hard Corner Location at the Intersection of North Big Spring Street and West Scharbauer Drive | Easily Accessible from Multiple Ingress and Egress Points

Investment Overview

Marcus & Millichap is pleased to offer the opportunity to acquire a 21,997-square-foot, multi-tenant retail center in Midland, Texas. The center is currently 100 percent occupied with a complementary mix of internet-resistant and service-oriented businesses, including Nice & Clean Laundromat, Cricket Wireless, Lucky Massage Spa, Tripled Tattoo, World Finance Corporation, African Food Store, Happy Nails, Midland Vape & Smoke, and Royal Key Concierge. Current leases are on gross terms providing future upside potential in converting leases to triple-net. The building sits on two parcels totaling 1.35 acres. Regency Shopping Center is located at the signalized, hard corner intersection of North Big Spring Street and West Scharbauer Drive. Traffic counts on North Big Spring Street are approximately 21,454 vehicles per day and 5,060 vehicles per day on West Scharbauer Drive. Neighboring national and regional retailers include O'Reilly Auto Parts, Dollar Tree, H&R Block, Rent-A-Center, Boost Mobile, Lone Star Title Loans, Whataburger, Family Dollar, and others. The surrounding area benefits from strong demographics, with a five-mile population of 129,381 and an average household income exceeding $107,009.

Exclusively Listed By

Financing By

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