Gas Station with Convenience
For Sale
$10,500,000
1905 S US Hwy 385, Odessa, TX 79766
Commercial Sale, Odessa, TX
Property Size14,400 SF
Lot Size2.12 Acres
Price / SF$729.17
Days on Market48
Property Features for 1905 S US Hwy 385
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
ES2
Standard status
Active
APN
133550002000000
Size
14,400 SF
Lot size
2.12 Acres
Taxes and HOA fees
Tax Annual Amount
4000
Building Details
Year built
2024
Building materials
Brick, Glass, Concrete
Roof type
Composition
Listing Agency:
Real Broker, LLC
(855) 450-0442
Listed By:
Lead Group Team At Real Broker, Llc
(432) 299-3539
Added: Jul 7
Changed: Aug 20
Last Checked: Aug 23 at 8:06AM
MLS# 176012
Copyright © 2026 Odessa 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.
Built in 2024, this 14,400-square-foot commercial property combines a gas station with a convenience store, liquor store, and restaurant. The improvements use brick, glass, and concrete construction and include a composition roof. The multi-use configuration brings several established commercial functions together within one property.
The site encompasses 2.115 acres at 1905 S US Hwy 385 in Odessa, Texas. Highway frontage provides direct exposure along US Hwy 385, while the property includes on-site parking and access from the highway. The combination of fuel service, retail components, and restaurant space supports both operating-business and commercial real estate considerations.
The site encompasses 2.115 acres at 1905 S US Hwy 385 in Odessa, Texas. Highway frontage provides direct exposure along US Hwy 385, while the property includes on-site parking and access from the highway. The combination of fuel service, retail components, and restaurant space supports both operating-business and commercial real estate considerations.
Key Highlights
- 14,400 square feet of commercial improvements
- 2.115‑acre site at 1905 S US Hwy 385, Odessa, TX 79766
- Gas station, convenience store, liquor store, and restaurant components
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$854,582
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.14%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$17,091,640
$17.1M
Cap Rate 7%
$12,208,314
$12.2M
Cap Rate 9%
$9,495,356
$9.5M
Market Conditions
NOI Build-Up for 14,400 SF
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.
Gross rent
$1.30M $90.00/SF
− Vacancy
−$75.2K −$5.22/SF
EGI
$1.22M $84.78/SF
− OpEx
−$366.2K −$25.43/SF
NOI
$854.6K $59.35/SF
Area
Odessa, TX
Vacancy
5.80%
Lease Rate
$90.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$17,091,640
Cap Rate 7%
$12,208,314
Cap Rate 9%
$9,495,356
Alternative Uses
Best Use
Industrial
$12.21M
$10.68M – $14.24M
NOI $854,582 @ 7.0% cap · market cap 8.14%
Second Best
Specialty Retail
$2.75M
$2.41M – $3.21M
NOI $192,845 @ 7.0% cap · market cap 1.84%
Theoretical Best
Flex RnD
$20.93M
$18.32M – $24.42M
NOI $1,465,405 @ 7.0% cap · market cap 13.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
143
Businesses Nearby
Explore this area
Business Placement
Demographics for 79766, TX
9,688
Population
3,516
Households
2.8
Avg Household Size
33
Median Age
10%
College-Educated
58%
High-School Grad
305.0 sq mi
ZIP Area
32
Density / Sq Mi
$70,965
Median Household Income
$41,913
Median Earnings
$1,100
Median Rent
$151,200
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Gas station - Newly constructed commercial property combines fuel service, convenience retail, liquor sales, and restaurant space along US Hwy 385.
Where is this gas station located?
The property is located at 1905 S US Hwy 385 Odessa, TX.
What is the asking price?
The asking price for this property is $10,500,000.
What are key features of this property?
This property features: 14,400 square feet of commercial improvements; 2.115‑acre site at 1905 S US Hwy 385, Odessa, TX 79766; Gas station, convenience store, liquor store, and restaurant components
