Mixed-Use Property with Covered
New
For Sale
$225,000
2411 Kermit Hwy, Odessa, TX 79761
Commercial Sale, Odessa, TX
Property Size1,500 SF
Lot Size0.08 Acres
Price / SF$150
Days on Market7
Property Features for 2411 Kermit Hwy
General Information
Property type
Commercial Sale
Property subtype
Office
Parking
5
Fencing
Fenced
Subdivision
Highland Park
Standard status
Active
APN
14000.01060.00000
Size
1,500 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Annual Amount
1900
Utilities
Utilities
Cable Available
Amenities
covered back patio
multiple restrooms
large serving kitchen
Building Details
Year built
1953
Floors in Building
1
Building materials
Brick, Stucco
Roof type
Composition, Flat
Listing Agency:
SIMS & GUESS, REALTORS
(432) 368-6800
Listed By:
Brent Sims · License #0609549
(432) 528-1154
Added: Oct 2
Changed: Oct 3
Last Checked: Oct 8 at 5:06AM
MLS# 177938
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.
This 1,500-square-foot mixed-use property was built in 1953 and has an open-concept interior with multiple offices, restrooms, and a large serving kitchen. Brick and stucco construction, a fenced lot, and composition and flat roof sections are among its physical features. A covered patio extends from the rear, with parking available at the front and back.
The property sits across the street from Odessa College at 2411 Kermit Hwy in Odessa. The site comprises 0.08 acres, and cable service is available.
The property sits across the street from Odessa College at 2411 Kermit Hwy in Odessa. The site comprises 0.08 acres, and cable service is available.
Key Highlights
- 1,500 square feet on a 0.08‑acre lot
- Built in 1953
- Across the street from Odessa College
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,963
Cap Rate
8.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$399,260
$399.3K
Cap Rate 7%
$285,186
$285.2K
Cap Rate 9%
$221,811
$221.8K
Market Conditions
NOI Build-Up for 1,500 SF
Gross rent
$31.5K $21.00/SF
− Vacancy
−$4.9K −$3.26/SF
EGI
$26.6K $17.75/SF
− OpEx
−$6.7K −$4.44/SF
NOI
$20.0K $13.31/SF
Area
Odessa, TX
Vacancy
15.50%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$399,260
Cap Rate 7%
$285,186
Cap Rate 9%
$221,811
Alternative Uses
Best Use
Office B
$285.2K
$249.5K – $332.7K
NOI $19,963 @ 7.0% cap · market cap 8.87%
Second Best
Mixed Use
$270.6K
$236.7K – $315.7K
NOI $18,939 @ 7.0% cap · market cap 8.42%
Theoretical Best
Flex RnD
$2.18M
$1.91M – $2.54M
NOI $152,646 @ 7.0% cap · market cap 67.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
630
Businesses Nearby
Explore this area
Business Placement
Demographics for 79761, TX
30,187
Population
13,591
Households
2.2
Avg Household Size
35
Median Age
14%
College-Educated
76%
High-School Grad
10.4 sq mi
ZIP Area
2,903
Density / Sq Mi
$69,279
Median Household Income
$42,724
Median Earnings
$1,246
Median Rent
$158,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office 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?
Mixed-use property - The interior includes multiple offices, restrooms, and a large serving kitchen, with parking at both the front and rear.
Where is this mixed-use property located?
The property is located at 2411 Kermit Hwy Odessa, TX.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: 1,500 square feet on a 0.08‑acre lot; Built in 1953; Across the street from Odessa College
