Fenced Mixed-Use Industrial
For Sale
$1,370,000
11010 W Joan Dr, Odessa, TX 79764
COMMERCIAL - Odessa, TX
Property Size8,592 SF
Lot Size5.76 Acres
Price / SF$159.45
Days on Market314
Property Features for 11010 W Joan Dr
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
Westland
Standard status
Active
Size
8,592 SF
Lot size
5.76 Acres
Taxes and HOA fees
Tax Description
WESTLAND SUB BLK 4 LOT 3 LESS .472 ACRE TRACT OUT OF SE CORNER LAB #NTA112
Tax Annual Amount
4771
Legal Description
WESTLAND SUB BLK 4 LOT 3 LESS .472 ACRE TRACT OUT OF SE CORNER LAB #NTA112
Building Details
Year built
2019
Listing Agency:
New Heights Real Estate
(210) 824-1476
Listed By:
Cassandra Pearce · License #TREC#0588281
(432) 703-2545
Added: Oct 15, 2025
Changed: Aug 4
Last Checked: Aug 24 at 11:06AM
MLS# 50086101
Copyright © 2026 Permian Basin 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.
Investment Insights
Based on property information with market context.
This mixed-use property spans 5.76 acres and provides 8,592 square feet of improvements across multiple functional components. The primary shop measures 50 by 80 feet, offers 20-foot interior height, includes four 16-by-14-foot bay doors, and has dedicated power. The site is fully fenced.
A separate office and showroom building includes a full kitchen, restroom, and HVAC. Residential accommodations consist of a freshly painted 1,568-square-foot, three-bedroom mobile home with a large porch. Additional improvements include a six-bay horse stall, supporting a combination of commercial, industrial, storage, and housing uses.
A separate office and showroom building includes a full kitchen, restroom, and HVAC. Residential accommodations consist of a freshly painted 1,568-square-foot, three-bedroom mobile home with a large porch. Additional improvements include a six-bay horse stall, supporting a combination of commercial, industrial, storage, and housing uses.
Key Highlights
- 5.76 fully fenced acres with 8,592 square feet of improvements
- 50‑by‑80‑foot shop with 20‑foot heights and dedicated power
- Four 16‑by‑14‑foot bay doors serve the main shop
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$108,485
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.92%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,169,700
$2.2M
Cap Rate 7%
$1,549,786
$1.5M
Cap Rate 9%
$1,205,389
$1.2M
Market Conditions
NOI Build-Up for 8,592 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$190.7K $22.20/SF
− Vacancy
−$17.2K −$2.00/SF
EGI
$173.6K $20.20/SF
− OpEx
−$65.1K −$7.58/SF
NOI
$108.5K $12.63/SF
Area
Odessa, TX
Vacancy
9.00%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,169,700
Cap Rate 7%
$1,549,786
Cap Rate 9%
$1,205,389
Alternative Uses
Best Use
Flex RnD
$12.49M
$10.93M – $14.57M
NOI $874,359 @ 7.0% cap · market cap 63.82%
Second Best
Warehouse
$10.11M
$8.84M – $11.79M
NOI $707,470 @ 7.0% cap · market cap 51.64%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
20 ft
Clear height
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
81
Businesses Nearby
Explore this area
Business Placement
Demographics for 79764, TX
26,271
Population
10,326
Households
2.5
Avg Household Size
33
Median Age
20%
College-Educated
74%
High-School Grad
54.5 sq mi
ZIP Area
482
Density / Sq Mi
$68,367
Median Household Income
$52,054
Median Earnings
$944
Median Rent
$150,400
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Fenced acreage includes a warehouse, separate office-showroom, and residential accommodations.
Where is this mixed-use property located?
The property is located at 11010 W Joan Dr Odessa, TX.
What is the asking price?
The asking price for this property is $1,370,000.
What are key features of this property?
This property features: 5.76 fully fenced acres with 8,592 square feet of improvements; 50‑by‑80‑foot shop with 20‑foot heights and dedicated power; Four 16‑by‑14‑foot bay doors serve the main shop
