Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    4001 Penbrook unit 3Rd Floor Suite Odessa, TX 79762

    View on Map
    For Lease
    $499 /Mo

    SINGLE_FAMILY - Odessa, TX

    Type:Office
    Property size:
    144 SF
    Added:
    Mar 26, 2026
    Days on Market:
    8
    Last Refresh:
    Apr 2 at 3:06 am

    Property Features for 4001 Penbrook unit 3Rd Floor Suite

    General Information

    Property type
    Residential
    Property subtype
    Office
    Fencing
    Chain Link
    Standard status
    Active
    APN
    36800.01610.00000
    Size
    144 SF

    Taxes and HOA fees

    TaxAnnualAmount
    0

    Building Details

    Year built
    1977
    Building materials
    Stucco
    Roof type
    Flat

    We can help!

    Listing Contact
    Donavon Earl
    Donavon Earl

    Listing agent Donavon Earl License #809777

    Listing office D.E. The Home Boss Group LLC 6010 E Hwy 191 Suite 226, Odessa, TX

    Listing date Mar 26, 2026

    MLS# 173470

    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.

    Overview

    Modern Office Space Available

    Permian Business Center is leasing single offices, multiple offices, and custom suite build-outs designed to fit business needs. The building is undergoing a full remodel to create a modern, high-quality workspace in a prime West Texas location. Updated common areas and shared amenities are designed for productivity and collaboration. The available office space is 144 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Building Supply Gym & Fitness Center Pharmacy Accounting Firm Auto Repair Shop Daycare Center Big Box & Wholesale Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Odessa
    County
    Ector
    State
    Texas
    Longitude
    -102.3447768
    Latitude
    31.8942407

    Nearby Similar for Lease

    • Contact for pricing

      Commercial Shop with Offices, Kitchen

      Multi-use commercial shop with offices, restrooms, and high-clearance workshop.
      15456 W University Blvd, Odessa, TX 79764
      View Details
    • Contact for pricing

      New Retail Space For Lease

      New 1500 SF retail space available for lease.
      3601 Billy Hext Rd. unit: 110, Odessa, TX 79765
      View Details
    • Contact for pricing

      Odessa Office Space For Lease

      Flexible commercial space suitable for retail, office, or service businesses.
      1500 N Grant, Odessa, TX 79761
      View Details
    • Contact for pricing

      Odessa Commercial Flex Space

      Commercial lease with office and shop space in Odessa, TX.
      2107 W 83rd St, Odessa, TX 79764
      View Details
    • Contact for pricing

      Commercial Office and Shop Space

      6,200 SF office and shop on 1.5-acre corner lot.
      4424 W 8th St, Odessa, TX 79763
      View Details
    • Contact for pricing

      Modern Office Space Available

      Professionally managed office spaces with updated amenities in West Texas.
      4001 Penbrook unit: 4Th Floor Suite, Odessa, TX 79762
      View Details
    • Contact for pricing

      Odessa Industrial Property on Loop

      Industrial property with office and shop space on 10 acres.
      490 SE Loop 338, Odessa, TX 79766
      View Details
    • Contact for pricing

      New Retail Space For Lease

      New 1500 SF retail space available for lease.
      3601 Billy Hext Rd. unit: 130, Odessa, TX 79765
      View Details
    • Contact for pricing

      Odessa Warehouse with Drive-Through Bays

      9,000 SF warehouse on 5.3 acres with multiple drive-through bays.
      15095-2 W 42nd St, Odessa, TX 79764
      View Details
    • $26/mo

      Retail/Office Space in Odessa, TX

      Available retail or office space in fast-growing North Odessa.
      1807 E 87th St, Odessa, TX 79765
      View Details
    • Contact for pricing

      Industrial Property Ready For Lease

      Two-building industrial property with yard, ready for immediate lease.
      16319 W 39th St, Odessa, TX 79764
      View Details
    • Contact for pricing

      Professional Office Space Available

      Flexible office suites in a prime Odessa location.
      4200 Maple Ave unit: 2Nd Floor Suite, Odessa, TX 79761
      View Details

    FAQs

    What type of property is this?
    Office units - Professionally managed office spaces with updated amenities in West Texas.
    Where is this office units located?
    The property is located at 4001 Penbrook unit 3Rd Floor Suite Odessa, TX.
    What is the lease rate?
    The lease rate is $499 /Mo.
    What are key features of this property?
    This property features: Prime West Texas location; Full remodel underway, creating a modern, high‑quality workspace; Flexible options: single offices, multiple offices, or custom suite build‑outs
    (432) 230-3432
    We can help!
    Listing Contact
    Donavon Earl
    Donavon Earl
    Real Estate License ID: 809777
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!