Flex Space with Office and
For Sale
Contact for pricing
1008 E 2nd St, Odessa, TX 79761
The property combines dedicated office rooms with a substantial shop area.
Property Size19,511 SF
Price / SF$0.36
Days on Market350
Property Features for 1008 E 2nd St
General Information
Standard status
Active
Size
19,511 SF
Property subtype
Commercial
Additional Details
Office Build-Out
2,935 SF
Property Use
Office and Shop
Building Details
Building Size
19,511 SF
Year Built
1960
Listing Agency:
TROWER REALTORS
Listed By:
Virgil Trower · License #0158477
(432) 333-3211
Source:
Gloriarealestate
Added: Nov 10, 2025
Changed: Oct 24
Last Checked: Oct 24 at 3:18PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of TROWER REALTORS
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 19,511-square-foot flex property at 1008 E 2nd St in Odessa includes approximately 2,935 square feet of office space and 16,576 square feet of shop space. The office area contains six offices. The building dates to 1960.
Key Highlights
- 19,511 square feet total
- Approximately 16,576 square feet of shop space
- Approximately 2,935 square feet of office space with six offices
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$1,157,900
Suggested Prices Based on Cap Rates
Cap Rate 5%
$23,158,000
$23.2M
Cap Rate 7%
$16,541,429
$16.5M
Cap Rate 9%
$12,865,556
$12.9M
Market Conditions
NOI Build-Up for 19,511 SF
Gross rent
$1.76M $90.00/SF
− Vacancy
−$101.8K −$5.22/SF
EGI
$1.65M $84.78/SF
− OpEx
−$496.2K −$25.43/SF
NOI
$1.16M $59.35/SF
Area
Odessa, TX
Vacancy
5.80%
Lease Rate
$90.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$23,158,000
Cap Rate 7%
$16,541,429
Cap Rate 9%
$12,865,556
Alternative Uses
Best Use
Flex RnD
$28.36M
$24.82M – $33.09M
NOI $1,985,522 @ 7.0% cap · market cap 28,364.60%
Second Best
Warehouse
$22.95M
$20.08M – $26.78M
NOI $1,606,546 @ 7.0% cap · market cap 22,950.66%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,355
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
Demographics for 79761, TX
30,187
Population
13,591
Households
2.2
Avg Household Size
35
Median Age
14%
College-Educated
76%
High-School Grad
10.4 sq mi
ZIP Area
2,903
Density / Sq Mi
$69,279
Median Household Income
$42,724
Median Earnings
$1,246
Median Rent
$158,400
Median Home Value
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Market
Vacancy Rate% for Industrial in South region
Similar Off Market Nearby
- EL Sazón de Juárez — 500 E 3rd St, Odessa, TX 79761
Frequently Asked Questions
What type of property is this?
Flex space - The property combines dedicated office rooms with a substantial shop area.
Where is this flex space located?
The property is located at 1008 E 2nd St Odessa, TX.
What are key features of this property?
This property features: 19,511 square feet total; Approximately 16,576 square feet of shop space; Approximately 2,935 square feet of office space with six offices
