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Property profile & analytics
OFF-MARKET
Estimated value
$765,000
Commercial real estate
1221 University Blvd Odessa, TX 79764-7119
Individually Owned
6-yr Hold
Absentee Owner
Free & Clear
Property ID
US83-2968220
Property summary
AI-generated overview
This exceptional 4,086 square foot office building, situated on a 0.33-acre lot at 1221 W University Blvd in Odessa, TX, presents a rare investment opportunity. The property boasts a high-traffic location and features a stunning reception/waiting area, twelve private offices, four restrooms, a conference room, a full kitchen and a kitchenette, a dedicated filing room, and ample storage space. An expansive asphalt parking lot provides convenient parking for staff and clients. The building's versatility makes it ideal for a wide range of professional uses, including medical practices, daycare centers, accounting firms, and law offices. The presence of two electric meters offers significant flexibility
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1958
Total area
4,086 SF
Lot
0.33 ac (14,479 SF)
Zoning code
EB4
APN
35700.00792.00000
UPID
US83-2968220
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Starz Realty LLC Real Estate Agency
-
Bob Duree Inc Accounting Firm Tax Preparation
-
Michael Trantham PC Accounting Firm Tax Preparation
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$795k
Comparable Approach
Comparable
$738k
Blend (final)
Blend
$765k
Owner & transaction history
Randy Russell · 6 yrs held
Randy Russell
since 2020
7 recorded transactions
Zoning & alternative use
EB4 · Odessa, TX
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.2M
+94.7%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Odessa submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Odessa submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$860,000
6.5%
$795,000
7%
$735,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$590,000
Current use
OFFICE BUILDING
$1,150,000
Change: +95% · Conversion: Easy
AUTO REPAIR, GARAGE
$505,000
Change: -15% · Conversion: Difficult
RETAIL STORES
$490,000
Change: -18% · Conversion: Easy
Blend value · Realmo final
$765k
Range $689k – $842k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$187 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$4,753
Tax year 2023
Assessed value
$225,473
Assessed 2023
Previous assessed
$225,473
+0.0% YoY
Effective rate
2.11%
On assessed value
Assessed land
$30,842
Assessed improvement
$194,631
Land market value
$30,842
Improvement market value
$194,631
Total market value
$225,473
Applied tax rate
7.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
1958
Heating
NONE
Stories
1
Total area
4,086 SF
Lot
0.33 ac (14,479 SF)
Zoning code
EB4
APN
35700.00792.00000
UPID
US83-2968220
Jurisdiction
ECTOR
Zoning & alternative use
EB4 · Odessa, TX
Zoning EB4 · permitted uses
EB4 · Odessa, TX
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Odessa. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$590,000
OFFICE BUILDING
Est. value
$1.2M
AUTO REPAIR, GARAGE
Est. value
$505,000
RETAIL STORES
Est. value
$490,000
COMMERCIAL (GENERAL) Current
OFFICE BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1958
Heating
NONE
Stories
1
Lot
0.33 ac
Current owner
From public records · entity-resolved
Randy Russell
Individual
Free & Clear · 6 yrs held
Mailing address
23 SANTA FE PL, ODESSA, TX 79765-8520
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 19, 2021
—
Randy Russell
—
Deed
related
$250,000 · American Momentum Bank
Jan 3, 2020
—
Randy Russell
Rebecca Y Freels
Warranty Deed
related
—
Sep 25, 2019
—
Randy J Russell
—
Deed
related
—
Aug 28, 2018
—
Randy Russell
—
Trustees Deed
related
$250,000 · Commercial St Bk
Jan 4, 2018
—
Randy Russell
Trantham,michael & Etta
Grant Deed
related
—
Mar 8, 2017
—
Randy Russell
Michael Trantham
Venders Lien
$170,000 · Commercial State Bank (andrews Tx)
Jul 31, 2008
—
Michael Trantham
Duree,bob
Warranty Deed
related
—
—
—
Randy J Russell
—
Loan Modification
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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