Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    312 Acres in Odessa, TX Title is generated by Realmo AI

    Loop 338, Odessa, TX 79766

    View on Map
    Claim this Listing
    For Sale
    $3,122,600

    LAND - Odessa, TX

    Lot size:
    312.26 Acres
    Added:
    Dec 5, 2025
    Days on Market:
    172
    Last Refresh:
    May 26 at 2:06 pm

    Property Features for Loop 338

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    42480.00011.01000
    Lot size
    312.26 Acres

    Taxes and HOA fees

    Tax Annual Amount
    41

    We can help!

    Listing Contact
    Justin Dodd
    Justin Dodd

    Listing agent Justin Dodd License #9004023

    Listing office NRG Realty Group, LLC 6191 Highway 161, Suite 430, Dallas, TX

    Listing date Dec 5, 2025

    MLS# 164860 Listing URL

    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.

    HighLights

    • 312.26 contiguous acres of land.
    • Located outside of any zoning restrictions.
    • Land can be developed as the user wishes.
    • Geographic Location: [-102.403946,31.792248]
    • Large parcel size.
    • Development flexibility.

    Overview

    This parcel comprises 312.26 contiguous acres of land situated in Odessa, Texas. The property is not subject to any zoning restrictions, offering flexibility for development according to the user's preferences. It is important to note that approximately 7.3 acres of land within the overall boundary of this parcel are excluded from this sale.
    Property Profile Location Intelligence

    Current Use by Public Records

    Land

    Map

    City
    Odessa
    County
    Ector
    State
    Texas
    Longitude
    -102.4039495
    Latitude
    31.7922479

    Nearby Similar for Sale

    • $549,000
      3,856 SF

      Odessa Commercial Property Near Hospital

      Versatile commercial property in high-traffic area near downtown and hospital.
      401 E 7th St, Odessa, TX 79761
      View Details
    • $899,000
      11,200 SF

      Versatile Commercial Property in Odessa, TX

      Automation control panel building with offices, shop, and storage.
      210 E 57th St, Odessa, TX 79762
      View Details
    • $595,000
      14,830 SF

      Odessa Industrial Property with Upside

      Three-building industrial property on 3.4 acres, ideal for owner-users.
      302 Industrial Ave, Odessa, TX 79761
      View Details
    • $700,000
      5,000 SF

      Versatile Commercial Property in Odessa, TX

      Commercial property with office space, storage, and a 3-bay shop.
      1135 W 42nd St, Odessa, TX 79764
      View Details
    • $350,000
      3,570 SF

      Upgraded Commercial Building in Odessa

      High-traffic location, flexible layout, ready for immediate occupancy.
      1116 N Grant, Odessa, TX 79761
      View Details
    • $399,900
      6,050 SF

      Odessa Industrial Shop on Acre

      Industrial shop on approximately one fenced acre in northwest Odessa.
      2716 Judy Ave, Odessa, TX 79764
      View Details
    • $1,850,000
      7,500 SF

      Furnished Office and Mechanic Shop

      Spacious furnished office with mechanic shop and living quarters.
      3670 N Moss Ave, Odessa, TX 79764
      View Details
    • $650,000
      4,500 SF

      Profitable Floral Business and Real Estate

      Established floral business with real estate for sale in Odessa.
      2618 Kermit Hwy, Odessa, TX 79763
      View Details
    • $439,999
      5,440 SF

      Odessa Commercial Shop For Sale

      5,440 SF shop on 0.241 acres near US Hwy 385.
      130 E 52nd St, Odessa, TX 79762
      View Details
    • $435,000
      1,440 SF

      Restaurant Opportunity in High-Traffic Area

      Full-service restaurant for sale with high visibility and exposure.
      1306 E 7th St, Odessa, TX 79761
      View Details
    • $595,000
      4,710 SF

      Versatile Facility in Odessa, Texas

      Former medical supply facility ideal for sales, service, or distribution.
      1011 E 7th St, Odessa, TX 79761
      View Details
    • $1,850,000
      7,500 SF

      Spacious Office and Mechanic Shop

      Furnished office with mechanic shop, camp, and large parking.
      3670 N Moss Ave, Odessa, TX 79764
      View Details

    FAQs

    What type of property is this?
    Land - 312.26 acres of land outside zoning restrictions in Odessa, TX.
    Where is this land located?
    The property is located at Loop 338 Odessa, TX.
    What is the asking price?
    The asking price for this property is $3,122,600.
    What are key features of this property?
    This property features: 312.26 contiguous acres of land.; Located outside of any zoning restrictions.; Land can be developed as the user wishes.
    (432) 363-4777
    We can help!
    Listing Contact
    Justin Dodd
    Justin Dodd
    Real Estate License ID: 9004023
    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

    Thank You for Inquiry
    Loop 338, Odessa, TX 79766
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!