Fenced Flex Property with
For Sale
$1,370,000
11010 W Joan Dr, Odessa, TX 79764
Commercial Sale, Odessa, TX
Property Size8,592 SF
Lot Size5.76 Acres
Price / SF$159.45
Days on Market364
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
Amenities
full kitchen
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: Sep 5
Last Checked: Oct 13 at 9:06PM
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 flex property occupies 5.76 fenced acres and includes an 8,592-square-foot commercial improvement. The primary shop measures 50 by 80 feet, offers 20-foot interior height, and has four 16-by-14-foot bay doors with dedicated power. A separate office-showroom provides a full kitchen, restroom, and HVAC. Additional improvements include a six-bay horse stall and a 1,568-square-foot, three-bedroom mobile home with a large porch.
Located at 11010 W Joan Dr in Odessa, Texas, the property is suited to a range of commercial, industrial, storage, and live-work configurations supported by its combination of yard area, shop space, office facilities, and residential accommodations. The improvements were built in 2019.
Located at 11010 W Joan Dr in Odessa, Texas, the property is suited to a range of commercial, industrial, storage, and live-work configurations supported by its combination of yard area, shop space, office facilities, and residential accommodations. The improvements were built in 2019.
Key Highlights
- 5.76 fully fenced acres in Odessa, TX
- 50‑by‑80‑foot shop with 20‑foot heights
- Four 16‑by‑14‑foot bay doors and dedicated power
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$114,349
Cap Rate
8.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,286,980
$2.3M
Cap Rate 7%
$1,633,557
$1.6M
Cap Rate 9%
$1,270,544
$1.3M
Market Conditions
NOI Build-Up for 8,592 SF
Gross rent
$180.4K $21.00/SF
− Vacancy
−$28.0K −$3.26/SF
EGI
$152.5K $17.75/SF
− OpEx
−$38.1K −$4.44/SF
NOI
$114.3K $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%
$2,286,980
Cap Rate 7%
$1,633,557
Cap Rate 9%
$1,270,544
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.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
20 ft
Clear height
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
81
Businesses Nearby
Balanced
Demand for This Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Flex space - The site combines a separate office-showroom, warehouse shop, and residential mobile home.
Where is this flex space 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 in Odessa, TX; 50‑by‑80‑foot shop with 20‑foot heights; Four 16‑by‑14‑foot bay doors and dedicated power
