Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    700 N Grant Ave, Unit 801 Odessa, TX 79761

    Sponsored
    For Lease
    Contact for pricing

    SINGLE_FAMILY - Odessa, TX

    Type:Office
    Property size:
    5,000 SF
    Days on Market:
    11
    Last Refresh:
    Feb 19 at 7:06 pm

    Property Features for 700 N Grant Ave

    General Information

    Property type
    Residential
    Property subtype
    Office
    Standard status
    Active
    APN
    22000.01790.00000
    Parking
    200
    Size
    5,000 SF

    Building Details

    Year built
    1960

    We can help!

    Listing Contact
    Gary Sims

    SIMS & GUESS, REALTORS (432) 368-6800

    Listing agent Gary Sims (432) 528-1153

    Listing date Feb 9, 2026

    MLS# 167242

    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.

    Learn more

    Property Insight Report

    Overview

    Downtown Odessa Office Sublease Opportunity

    This is a 5,000 square foot office space available for sublease. It is located on the 8th floor of the Bank of America Building in downtown Odessa, Texas. The space is suitable for attorney offices, accounting offices, or similar administrative businesses.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Bank of America ATM Atm Pace Insurance Insurance Agency Leftwich Insurance Insurance Agency FMC Association Or Organization Geniuses For Hire Marketing & Advertising

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Odessa
    County
    Ector
    State
    Texas
    Longitude
    -102.3708328
    Latitude
    31.8506251

    Nearby Similar for Lease

    • $5,500 /Mo
      4,000 SF

      Event Center with Outdoor Gazebos

      4,000 SF event center with stage, kitchen, and gazebos.
      7303 N County Rd W, Odessa, TX 79764
      View Details
    • $4,200 /Mo
      4,499 SF

      Commercial Office Space in Odessa

      Prime office space with convenient parking in a growing market.
      1102 S Grandview Ave, Odessa, TX 79761
      View Details
    • $7,950 /Mo
      7,800 SF

      Odessa Shop/Office Space For Lease

      7,800 sq ft shop/office on 3.6 AC lot.
      1881 S Redline Ave, Odessa, TX 79763
      View Details
    • $8,000 /Mo
      6,200 SF

      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
    • New
      $6,500 /Mo
      5,000 SF

      Versatile Commercial Space in Odessa, TX

      2000 sq ft office, 3000 sq ft 3-bay shop.
      Odessa, TX 79764
      View Details
    • $300 /Mo
      8,488 SF

      Office Space in Odessa, TX

      Conveniently located office space with prime access and spacious parking.
      1128 S Grandview Unit Office B2, Odessa, TX 79761
      View Details
    • $240 SF/Yr
      8,488 SF

      Odessa Office Space For Rent

      Conveniently located office space with prime access and spacious parking.
      1128 S Grandview Unit Office B7, Odessa, TX 79761
      View Details
    • $240 SF/Yr
      8,488 SF

      Office Space in Convenient Location

      Office space with prime access and spacious parking available for rent.
      1128 S Grandview Unit Office C4, Odessa, TX 79761
      View Details
    • $240 SF/Yr
      8,488 SF

      Office Space in Convenient Location

      Office space with prime access to transportation and services.
      1128 S Grandview Unit Office C7, Odessa, TX 79761
      View Details
    • $300 /Mo
      8,488 SF

      Office Space in Odessa, TX

      Office space for rent with convenient location and ample parking.
      1128 S Grandview Unit Office B4, Odessa, TX 79761
      View Details
    • $500 /Mo
      8,488 SF

      Office Space in Odessa, TX

      Conveniently located office space with ample parking in Odessa.
      1128 S Grandview Unit Office C9, Odessa, TX 79761
      View Details
    • $300 /Mo
      8,488 SF

      Office Space in Convenient Location

      Office space with prime access to transportation and spacious parking.
      1128 S Grandview Unit Office B3, Odessa, TX 79761
      View Details

    FAQs

    What type of property is this?
    Office space - Prime office space available for sublease in downtown Odessa.
    Where is this office space located?
    The property is located at 700 N Grant Ave, Unit 801 Odessa, TX.
    What are key features of this property?
    This property features: - Below market rent; - Prime office space in Bank of America Building; - Ideal location for attorney, accounting, or administrative offices
    (432) 528-1153
    Request Owner's contact information
    700 N Grant Ave, Unit 801 Odessa, TX 79761
    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.
    700 N Grant Ave, Unit 801
    Odessa, TX 79761
    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
    700 N Grant Ave, Unit 801 Odessa, TX 79761
    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

    We can help!
    Listing Contact
    Gary Sims
    (432) 528-1153
    Learn more
    Google sign-in failed. Please try again or use another login method.