3-Bay Flex
For Sale
Contact for pricing
1135 W 42nd St, Odessa, TX 79764
Office areas include private rooms, a kitchen, storage, and a workroom alongside the shop.
Property Size5,000 SF
Price / SF$1.20
Days on Market25
Property Features for 1135 W 42nd St
General Information
Standard status
Active
Size
5,000 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$4,276
Building Details
Building Size
5,000 SF
Year Built
1982
Listing Agency:
D.E. The Home Boss Group LLC
Listed By:
Donavon Earl · License #809777
(432) 230-3432
Source:
Gloriarealestate
Added: Oct 2
Changed: Oct 24
Last Checked: Oct 24 at 2:51PM
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 D.E. The Home Boss Group LLC
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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 5,000-square-foot flex property in Odessa combines 2,000 square feet of office space with a 3,000-square-foot, three-bay shop. The office area has six private offices, a kitchen, dedicated storage areas, and a workroom. The property was built in 1982 and includes parking for staff and visitors.
Key Highlights
- 5,000 SF total property size
- 2,000 SF of office space with 6 private offices
- 3,000 SF shop with 3 bays
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$296,730
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,934,600
$5.9M
Cap Rate 7%
$4,239,000
$4.2M
Cap Rate 9%
$3,297,000
$3.3M
Market Conditions
NOI Build-Up for 5,000 SF
Gross rent
$450.0K $90.00/SF
− Vacancy
−$26.1K −$5.22/SF
EGI
$423.9K $84.78/SF
− OpEx
−$127.2K −$25.43/SF
NOI
$296.7K $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%
$5,934,600
Cap Rate 7%
$4,239,000
Cap Rate 9%
$3,297,000
Alternative Uses
Best Use
Flex RnD
$7.27M
$6.36M – $8.48M
NOI $508,821 @ 7.0% cap · market cap 8,480.35%
Second Best
Industrial
$4.24M
$3.71M – $4.95M
NOI $296,730 @ 7.0% cap · market cap 4,945.50%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
258
Businesses Nearby
Under-served
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Flex space - Office areas include private rooms, a kitchen, storage, and a workroom alongside the shop.
Where is this flex space located?
The property is located at 1135 W 42nd St Odessa, TX.
What are key features of this property?
This property features: 5,000 SF total property size; 2,000 SF of office space with 6 private offices; 3,000 SF shop with 3 bays
