Just as the double-pipe heat exchanger is being utilized in an increasing number of applications, its research content is also deepening. For this paper, based on the air-conditioning cold and heat source project of a building in Handan, Hebei Province, a 300-meter medium-shallow well double-pipe heat exchanger was used for heating and cooling, and a corresponding heat transfer model was established. The changes of parameters such as the inlet and outlet temperature, heat exchange (with and without a temperature gradient), and borehole wall temperature distribution between a single borehole, double boreholes, and four boreholes over one year in medium-shallow wells were simulated and analyzed. By comparing the obtained experimental data and the simulation data, the accuracy of the heat transfer model was verified. This provides a theoretical basis for the further advancement of the project and lays the foundation for an in-depth study of multi-borehole double-pipe heat exchangers.