Office Units with Truck
For Sale
$340,000
411 Saraway Road, Odessa, TX 79766
Commercial Sale, Odessa, TX
Property Size1,152 SF
Lot Size2.43 Acres
Price / SF$295.14
Days on Market170
Property Features for 411 Saraway Road
General Information
Property type
Residential
Property subtype
Office
Subdivision
Sterling Park 2nd Filing
Lot features
Corner Lot
Standard status
Active
APN
29985.00990.00000
Size
1,152 SF
Lot size
2.43 Acres
Taxes and HOA fees
Tax Annual Amount
2278
Utilities
Sewer type
Private Sewer
Water source
Well
Building Details
Year built
2012
Listing Agency:
Century 21 The Edge
(432) 617-3053
Listed By:
Sarah Ivey · License #0408989
(432) 238-8392
Added: Mar 7
Changed: Aug 20
Last Checked: Aug 24 at 10:06PM
MLS# 159717
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 office-unit property includes two mobile homes on approximately 2.43 acres. The structures may support office use, while the surrounding yard provides space for truck parking. The property contains 1,152 square feet and was built in 2012.
Located at 411 Saraway Road in Odessa, the site has a well water source and private sewer. The acreage also allows for a build-to-suit approach, subject to applicable requirements.
Located at 411 Saraway Road in Odessa, the site has a well water source and private sewer. The acreage also allows for a build-to-suit approach, subject to applicable requirements.
Key Highlights
- Approximately 2.43 acres in Odessa, TX
- Two mobile homes with potential office use
- 1,152 square feet of property size
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
$15,332
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
4.51%
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%
$306,640
$306.6K
Cap Rate 7%
$219,029
$219.0K
Cap Rate 9%
$170,356
$170.4K
Market Conditions
NOI Build-Up for 1,152 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
$24.2K $21.00/SF
− Vacancy
−$3.7K −$3.26/SF
EGI
$20.4K $17.75/SF
− OpEx
−$5.1K −$4.44/SF
NOI
$15.3K $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 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%
$306,640
Cap Rate 7%
$219,029
Cap Rate 9%
$170,356
Alternative Uses
Best Use
Office B
$219.0K
$191.7K – $255.5K
NOI $15,332 @ 7.0% cap · market cap 4.51%
Second Best
—
—
no second resolved use
Theoretical Best
Flex RnD
$1.67M
$1.47M – $1.95M
NOI $117,232 @ 7.0% cap · market cap 34.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
60
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 Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Two mobile homes offer potential office use alongside yard space for truck parking.
Where is this office units located?
The property is located at 411 Saraway Road Odessa, TX.
What is the asking price?
The asking price for this property is $340,000.
What are key features of this property?
This property features: Approximately 2.43 acres in Odessa, TX; Two mobile homes with potential office use; 1,152 square feet of property size
