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    2763 N County Rd W Odessa, TX 79764

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    For Sale
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    Advance Auto Parts in Odessa, TX for sale.

    Lot size:
    1.71 Acres

    Property Features for 2763 N County Rd W

    General Information

    Lot size
    1.71 Acres

    We can help!

    Listing Contact
    Alvin Mansour
    Alvin Mansour
    Source: Moodyscre

    Listing Agency: Marcus & Millichap San Diego Listing Agent: Alvin Mansour

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Odessa, TX Auto Parts Property

    The Advance Auto Parts property is located at the signalized intersection of State Highway 450 and North County Road, which supports over 43,000 vehicles per day, and near State Hwy 302 with over 32,000 vehicles per day. The site benefits from its proximity to residential areas, being just under a mile east of The Appleridge Apartments (96 units) and the Manor Crest Apartments (106 units). It is also within walking distance of Odessa College (5,213 students) and New Tech Odessa (361 students). The surrounding area is densely populated, with over 107,000 people residing within a 5-mile radius, and supports a trade area of 63,000 employees. The property is adjacent to a United Supermarkets and in close proximity to numerous other national retailers including H-E-B, Walmart Supercenter, Walgreens, and CVS Pharmacy. The site is located minutes from Odessa-Schlemeyer Field Airport, a public-use airport primarily serving general aviation. Odessa, Texas, has seen consistent growth over the years, driven by the energy sector, manufacturing, and an expanding retail industry. The property has a long-term absolute net lease with zero landlord obligations, featuring 10% rental increases throughout the initial term and options. The tenant has demonstrated a strong commitment to the location with a recent lease extension and over 35 years of historical occupancy. Advance Auto Parts (NYSE: AAP) has a S&P investment grade credit rating of "BB+" and is ranked #358 on the Fortune 500 List with an annual revenue of more than $9.09 Billion.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Advance Auto Parts Auto Parts Store UPS Access Point ... Courier Service

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    Statewide Insurance, AMSOIL, Uniroyal, Walmart Auto Care Centers, Chavi Mobile Diesel Services

    Location Insight

    • Map
    • Local Demand
    City
    Odessa
    County
    Ector
    State
    Texas
    Longitude
    -102.398074
    Latitude
    31.865618

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    FAQs

    What type of property is this?
    Auto shop - Advance Auto Parts in Odessa, TX for sale.
    Where is this auto shop located?
    The property is located at 2763 N County Rd W Odessa, TX.
    What is the asking price?
    The asking price for this property is $2,145,000.
    What are key features of this property?
    This property features: - Long-term absolute net lease with zero landlord obligations and 10% rental increases throughout the initial term and options.; - Recent lease extension and 35+ year historical occupancy demonstrates strong commitment to the location.; - Advance Auto Parts (NYSE: AAP) has an S&P Investment Grade Credit Rating of 'BB+' and is Ranked #358 on the Fortune 500 List.
    (858) 373-3184 Call to check price and availability
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    2763 N County Rd W Odessa, TX 79764
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    Odessa, TX 79764
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2763 N County Rd W Odessa, TX 79764
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Alvin Mansour
    Alvin Mansour
    Real Estate License ID: 0606255
    (858) 373-3184 (858) 373-3100
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