Retail Development Pad
Located at Signalized Intersection with 37,000 VPD | Adjacent to University of Texas Permian Basin
Marketing description
Marcus and Millichap is pleased to offer qualified investors the opportunity to acquire a 0.72 acre retail development pad, ideal for ground lease or build-to-suit for a single or multi-tenant property.
The site is located near a major retail corridor along East 42nd Street/TX- 191, anchored by big box stores including Walmart, Target, Sam’s Club, Cinemark, and The Home Depot. It benefits from a hard corner location at the intersection of TX-338 and Eastridge Road, which sees over 37,000 cars per day. The University of Texas at Permian Basin is adjacent to the site, making it easily accessible to over 5,600 students. Its location directly off East 42nd Street/TX-191 gives it a direct connection to Midland, one of the principal cities of the Midland-Odessa combined statistical area. The Midland-Odessa region is home to over 340,000 residents. Over the next five years, the metro is expected to add roughly 15,000 new residents, resulting in the formation of approximately 6,000 households.
Investment highlights
- 0.72-Acre Retail Development Pad Available Near the University of Texas at Permian Basin (±5,600 Students)
- Ideal Development Pad for Ground Lease or Build-to-Suit for Single or Multiple Tenants
- Previously Approved for Drive-Thru Use
- Situated at a Hard Corner in a High Traffic Area Along TX-338, Accessible by Over 37,000 Cars per Day
- 93,342 Residents within a Five-Mile Radius - Projected to Increase 4 Percent-Plus by 2030
- Directly Off East 42nd Street/TX-191, Providing a Direct Route to Midland to the East
- Immediate Proximity to a Major Retail Corridor, Anchored by Target, Walmart, Sam’s Club, The Home Depot, Cinemark, and Music City Mall
- Average Household Income Exceeds $131,000 within a One-Mile Radius
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