Entertainment Venue
For Sale
$270,000
6115 Andrews Hwy, Odessa, TX 79764
COMMERCIAL - Odessa, TX
Property Size2,021 SF
Lot Size0.51 Acres
Price / SF$133.60
Days on Market21
Property Features for 6115 Andrews Hwy
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
Lakeview
Standard status
Active
APN
16900.00121.00000
Size
2,021 SF
Lot size
0.51 Acres
Taxes and HOA fees
Tax Annual Amount
1082
Building Details
Year built
1957
Building materials
Concrete, Metal Siding
Roof type
Metal
Listing Agency:
Black Orchid Real Estate, LLC
(432) 813-3538
Listed By:
Ronda Peroutka · License #0680846
(432) 202-0182
Added: Jul 22
Changed: Aug 4
Last Checked: Aug 11 at 10:06PM
MLS# 176380
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 for-sale commercial property has operated in the past as a popular nightclub and later as a game room. The building is positioned for a new concept, with the current configuration potentially suitable for entertainment, retail, restaurant, bar, or event use, subject to buyer verification.
The property is located at 6115 Andrews Hwy in Odessa, Texas, within Ector County. Lot size is 0.506 acres, and the listed building size is 2,021 square feet.
Prospective buyers should confirm all details, including schools, taxes, boundary lines, and zoning, prior to closing.
The property is located at 6115 Andrews Hwy in Odessa, Texas, within Ector County. Lot size is 0.506 acres, and the listed building size is 2,021 square feet.
Prospective buyers should confirm all details, including schools, taxes, boundary lines, and zoning, prior to closing.
Key Highlights
- Commercial building with concrete construction and metal siding
- Metal roof
- Built in 1957
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
$22,523
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
8.34%
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%
$450,460
$450.5K
Cap Rate 7%
$321,757
$321.8K
Cap Rate 9%
$250,256
$250.3K
Market Conditions
NOI Build-Up for 2,021 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
$35.2K $17.40/SF
− Vacancy
−$3.0K −$1.48/SF
EGI
$32.2K $15.92/SF
− OpEx
−$9.7K −$4.78/SF
NOI
$22.5K $11.14/SF
Area
Odessa, TX
Vacancy
8.50%
Lease Rate
$17.40 /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%
$450,460
Cap Rate 7%
$321,757
Cap Rate 9%
$250,256
Alternative Uses
Best Use
Specialty Retail
$386.6K
$338.3K – $451.1K
NOI $27,065 @ 7.0% cap · market cap 10.02%
Second Best
Retail
$321.8K
$281.5K – $375.4K
NOI $22,523 @ 7.0% cap · market cap 8.34%
Theoretical Best
Flex RnD
$2.94M
$2.57M – $3.43M
NOI $205,666 @ 7.0% cap · market cap 76.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
349
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 79764, TX
26,271
Population
10,326
Households
2.5
Avg Household Size
33
Median Age
20%
College-Educated
74%
High-School Grad
54.5 sq mi
ZIP Area
482
Density / Sq Mi
$68,367
Median Household Income
$52,054
Median Earnings
$944
Median Rent
$150,400
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.
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Frequently Asked Questions
What type of property is this?
Night club - Former nightclub and later game room building offered for sale on a 0.506-acre lot.
Where is this night club located?
The property is located at 6115 Andrews Hwy Odessa, TX.
What is the asking price?
The asking price for this property is $270,000.
What are key features of this property?
This property features: Commercial building with concrete construction and metal siding; Metal roof; Built in 1957
