Downtown Multi-Tenant Office Building 401 W Texas Ave 108,384 SF Vacant Office Building Midland, TX 79701 $3,489,800 CAD ($32.20 CAD/SF)

Discover the rare opportunity to acquire Midland Charms, an iconic 10-story office tower centrally located at 401 W Texas Avenue in Downtown Midland, Texas. Offering 108,000 square feet of well-maintained, flexible office space, this building seamlessly blends classic style with modern functionality, catering to a diverse range of businesses both large and small. This rare opportunity is ideal for value-add investors seeking a robust lease upside, as well as growing businesses seeking to offset costs by leasing unutilized suites.

Midland Charms stands out for its robust infrastructure and regular upgrades since its original construction in 1954. The property attracts tenants with affordable utility rates via central heating and air, ample downtown parking, and a variety of floor plans, with options including fully built-out suites as well as flexible open layouts. Additionally, all the spaces enjoy large windows and great natural light and several of the suites feature sweeping views of Centennial Plaza, Downtown Midland, and the Convention Center. Formerly the headquarters of Community National Bank, the building includes premium amenities such as a secure vault, safe boxes, and well-appointed banking spaces.

Situated at the busy intersection of Texas Avenue and Big Spring Street, Midland Charms benefits from exposure to over 21,000 vehicles daily. Its prime location places tenants within walking distance of the Bush Convention Center, Centennial Park, City Hall, and the Petroleum Club of Midland. Top-rated restaurants and entertainment options are just steps away, and with Front Street and Interstate 20 nearby, reaching the property from across the greater metro is quick and easy for commuters and clients alike.

The Midland office market is on the rise, with local office rents growing 2.5% year-over-year, outpacing the national performance. Already known as the hub of the oil and gas industries, Midland is rapidly growing in the aerospace, agriculture, healthcare, retirement facility, and transportation sectors. The surrounding area supports continued growth, boasting a population of over 125,000 within 5 miles, a daytime workforce of over 58,000, and nearly 7,000 businesses. With more than 27% of residents holding a bachelor’s degree or higher, the local talent pool is well equipped to support new and expanding businesses.

Don’t pass up this rare chance to help shape the future of Downtown Midland with the acquisition of Midland Charms. Property tours are by appointment only; please contact the Moriah Group to schedule a tour and learn more about this incredible opportunity.