2314 Loop 250Midland, TX 79705

Property Details for 2314 Loop 250

Year built

1994

Lot size

1.45 AC

Property size (Sq ft)

6,192 SF

Property type

Retail properties

Property subtype

Restaurants

Description

This exceptional investment opportunity presents a 6,192-square-foot Outback Steakhouse located in Midland, Texas, on a 1.45-acre lot. The property boasts a strong location with excellent visibility at the intersection of Faulkner Drive and West Loop 250 North, a high-traffic area with approximately 45,200 vehicles per day. The property benefits from its proximity to other national retailers such as Office Depot and Talbots, and is near major shopping centers, including Midpark Village and North Park Shopping Center. The absolute NNN lease with Outback Steakhouse (Bloomin' Brands, Inc. corporate guarantee) has approximately 11.9 years remaining on the primary term, with three 5-year renewal options. The lease includes attractive 1.8% annual rent increases, ensuring consistent income growth. The property features 125 parking spaces and was built in 1994. With a 6.25% cap rate and a strong NOI of $396,940, this offering presents a compelling investment opportunity in a thriving retail corridor. The surrounding area demonstrates robust demographics, with a population of 71,349 and an average household income of $138,810 within a 5-mile radius. The property's strategic location, coupled with the strength of the tenant and lease terms, makes this a highly desirable investment. The asking price is $6,351,000, representing a price per square foot of $1,025.68. This property offers a rare opportunity to acquire a well-established, high-performing retail asset in a dynamic market. The 100% occupancy further solidifies this investment's appeal.

Location Insight

City

Midland

County

Midland

State

Texas

Latitude

32.0385

Longitude

-102.115

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