S LAMESA RD

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S LAMESA RD

MIDLAND, TX 79701
Asking Price
$195K
Asset Type
Apartment Building Multifamily
Class
Class B

What's Special

Three Contiguous Lots at Florida & Cloverdale | Multifamily Zoning with Future Development Potential <p>Three contiguous development lots totaling approximately 16,995 SF (0.39 Acres)</p><p>Located at the highly visible intersection of Florida Avenue and Cloverdale Road</p><p>Existing multifamily zoning</p><p>Potential future commercial or retail redevelopment opportunity (buyer to verify zoning and permitted uses)</p><p>Opportunity to acquire adjacent lots and create a larger assemblage of approximately 28,325 SF (0.65 Acres)</p><p>Surrounded by established commercial development at neighborin

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NOI
$80,000
Cap Rate
41.03%
DSCR
6.91
Strong
Cash-on-Cash
116.96%
Monthly Payment
$964.754
Annual Cash Flow
$68,422.957

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