Two-Building Office and
For Sale
Contact for pricing
1011 E 7th St, Odessa, TX 79761
Two buildings totaling about 4,710 sq. ft. include an office with reception and private offices plus a separate storage/shop space.
Property Size4,710 SF
Price / SF$1.00
Days on Market106
Property Features for 1011 E 7th St
General Information
Standard status
Active
Size
4,710 SF
Building Details
Year Built
1981
Listing Agency:
SIMS & GUESS, REALTORS
Listed By:
Brent Sims · License #0609549
(432) 528-1154
Source:
Billlanier
Added: Jul 21
Changed: Oct 25
Last Checked: Nov 1 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 SIMS & GUESS, REALTORS
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Investment Insights
Based on property information with market context.
This offering includes two buildings totaling approximately 4,710 sq. ft. The main office building provides about 3,750 sq. ft. of functional workspace, including a reception area, seven private offices, and two conference rooms or flexible-use spaces. A separate 960 sq. ft. storage/shop building adds additional room for inventory, equipment, or other operational needs.
The property is listed for rent at 1011 E 7th St in Odessa, TX 79761, and is described as offering convenient access with potential for professional or administrative use.
The space is configured to support a private office setup with meeting space, supplemented by an on-site storage/shop building designed for day-to-day operational support.
The property is listed for rent at 1011 E 7th St in Odessa, TX 79761, and is described as offering convenient access with potential for professional or administrative use.
The space is configured to support a private office setup with meeting space, supplemented by an on-site storage/shop building designed for day-to-day operational support.
Key Highlights
- Two‑building commercial property totaling approximately 4,710 sq. ft.
- Main office building includes about 3,750 sq. ft. with reception, 7 private offices, and 2 conference rooms/flexible‑use spaces.
- Separate 960 sq. ft. storage/shop building for inventory, equipment, or operations.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$62,684
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,253,680
$1.3M
Cap Rate 7%
$895,486
$895.5K
Cap Rate 9%
$696,489
$696.5K
Market Conditions
NOI Build-Up for 4,710 SF
Gross rent
$98.9K $21.00/SF
− Vacancy
−$15.3K −$3.26/SF
EGI
$83.6K $17.75/SF
− OpEx
−$20.9K −$4.44/SF
NOI
$62.7K $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 Rate 5%
$1,253,680
Cap Rate 7%
$895,486
Cap Rate 9%
$696,489
Alternative Uses
Best Use
Office B
$895.5K
$783.6K – $1.04M
NOI $62,684 @ 7.0% cap · market cap 1,330.87%
Second Best
—
—
no second resolved use
Theoretical Best
Flex RnD
$6.85M
$5.99M – $7.99M
NOI $479,310 @ 7.0% cap · market cap 10,176.43%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
114
Businesses Nearby
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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 Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - Two buildings totaling about 4,710 sq. ft. include an office with reception and private offices plus a separate storage/shop space.
Where is this office unit located?
The property is located at 1011 E 7th St Odessa, TX.
What are key features of this property?
This property features: Two‑building commercial property totaling approximately 4,710 sq. ft.; Main office building includes about 3,750 sq. ft. with reception, 7 private offices, and 2 conference rooms/flexible‑use spaces.; Separate 960 sq. ft. storage/shop building for inventory, equipment, or operations.
