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Odessa Commercial Lot For Sale

1301 E 2nd St Odessa, TX 79761

1301 E 2nd St, Odessa, TX, 79761
$399,900
For Sale
Claim this Listing
$399,900

COMMERCIAL - Odessa, TX

Property Size1,972 SF
Lot Size0.52 Acres
Price / SF$202.79
AddedApr 24, 2025
Days on Market449
Last RefreshJul 16 at 2:06 am

Property Features for 1301 E 2nd St

General Information

Property type
Commercial Sale
Property subtype
Other
Standard status
Active
Size
1,972 SF
Lot size
0.52 Acres

Taxes and HOA fees

Tax Description
DIXIE ADDN, BLOCK 1, LOTS 1-2
Tax Annual Amount
4138

Building Details

Year built
1962

Listing agent Chris Beckett Broker Owner CRS GRI ASR e-Pro

Listing office Pine & Beckett - Chris Beckett 4400 N BIG SPRING ST. STE E-100, Austin, TX

Listing date Apr 24, 2025

MLS# 50081668

Copyright © 2026 Permian Basin Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.


Investment Insights

Based on property information with market context.

This commercial property, located on a high-traffic corner lot at Dixie and 2nd St/Bus. 20 in Odessa, TX, is available for sale. The property, formerly a gas station with no tanks on site, is zoned Light Industrial (LI). Constructed in 1963, the building offers 1972 square feet of space on a 0.52-acre lot. The location benefits from substantial traffic, with approximately 19,000 cars per day on 2nd St/Bus. 20 and 11,500 cars on Dixie per day. The property is being sold AS IS, WHERE IS, with no remediation reports or inspections available. It is not currently part of the ODC Building Redevelopment Bond Program. The property is suitable for a bar, restaurant, or food truck rental spaces.

Key Highlights

  • High‑traffic corner lot location at the intersection of Dixie and 2nd St/Bus. 20.
  • Zoned Light Industrial (LI) offering diverse usage possibilities.
  • High daily traffic count: 19,000 cars on 2nd/Bus. 20 and 11,500 cars on Dixie.

Local Financial Insights For Specialty Retail

Simulate Cap Rate and NOI

NOI Build-Up
Vacancy
income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
EGI (Effective Gross Income)
gross rent minus vacancy losses — the realistic income before paying operating costs.
OpEx (Operating Expenses)
recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
NOI (Net Operating Income)
income a property generates after operating costs but before financing and taxes.

Component $ $/SF
Gross rent $37.9k $19.20
− Vacancy −$2.7k −$1.34
EGI $35.2k $17.86
− OpEx −$8.8k −$4.46
NOI $26.4k $13.39
1,972 SF · lease $19.20/SF/yr · vacancy 7.00% · expense 25.00%

Alternative Uses

Best Use
Industrial
$1.67M
$1.46M – $1.95M (±1% cap)
NOI $117,030 @ 7.0% cap · market cap 29.26%
Second Best
Specialty Retail
$377.3K
$330.1K – $440.2K (±1% cap)
NOI $26,409 @ 7.0% cap · market cap 6.60%
Theoretical Best
Flex RnD
$2.87M
$2.51M – $3.34M (±1% cap)
NOI $200,679 @ 7.0% cap · market cap 50.18%
Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Quality Rent To Own Apartment Building Galileo's Garage Auto Repair Shop Junior's Appliances Sales ... Home Appliance Store Martin's Car Wash Car Wash

Suggested Use

Parking Lot & Garage Catering Service Acupuncture (Bike/Boat/Book/etc) Store Grocery & Convenience Store (Bike/Boat/Book/etc) Store Travel Agency (Bike/Boat/Book/etc) Store Furniture & Home Goods Pet Store

Zoning and permitted uses should be independently verified with local authorities.

FAQs

What type of property is this?
Gas station - High-traffic corner lot suitable for various commercial uses.
Where is this gas station located?
The property is located at 1301 E 2nd St Odessa, TX.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: High‑traffic corner lot location at the intersection of Dixie and 2nd St/Bus. 20.; Zoned Light Industrial (LI) offering diverse usage possibilities.; High daily traffic count: 19,000 cars on 2nd/Bus. 20 and 11,500 cars on Dixie.
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More about this property
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