Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    3001 W University Blvd Odessa, TX 79762

    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Retail space available near HEB Grocery at Odessa Loop.

    Property size:
    5,055 SF
    Lot size:
    0.64 Acres

    Property Features for 3001 W University Blvd

    General Information

    Size
    5,055 SF
    Lot size
    0.64 Acres

    We can help!

    Listing Contact
    Robert Wright
    Robert Wright
    Source: Moodyscre

    Listing Agent: Robert Wright

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

    Learn more

    Property Insight Report

    Overview

    Retail Space Near HEB Grocery

    Available for lease is a retail space, formerly a medical clinic building, ranging from 2,527 to 5,055 square feet. The property is situated on a 0.641-acre pad site capable of accommodating a drive-thru. It is the only outparcel to a new HEB Grocery store. A pylon sign provides visibility from Odessa Loop 338. There are no HEB use restrictions, but medical use is not permitted.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Complete Care West ... Medical Clinic Shana Turbyfill, NP Internist Diemer Donald O Nursing Agency Wallace Joe L ... Family Practice Physician IdentoGO Fingerprinting Service

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Odessa
    County
    Ector
    State
    Texas
    Longitude
    -102.352027
    Latitude
    31.874789

    Nearby Similar for Lease

    • $5,500 /Mo
      4,000 SF

      Event Center with Outdoor Gazebos

      4,000 SF event center with stage, kitchen, and gazebos.
      7303 N County Rd W, Odessa, TX 79764
      View Details
    • $4,200 /Mo
      4,499 SF

      Commercial Office Space in Odessa

      Prime office space with convenient parking in a growing market.
      1102 S Grandview Ave, Odessa, TX 79761
      View Details
    • $7,950 /Mo
      7,800 SF

      Odessa Shop/Office Space For Lease

      7,800 sq ft shop/office on 3.6 AC lot.
      1881 S Redline Ave, Odessa, TX 79763
      View Details
    • $8,000 /Mo
      6,200 SF

      Commercial Office and Shop Space

      6,200 SF office and shop on 1.5-acre corner lot.
      4424 W 8Th St, Odessa, TX 79763
      View Details
    • $300 /Mo
      8,488 SF

      Office Space in Odessa, TX

      Conveniently located office space with prime access and spacious parking.
      1128 S Grandview Unit Office B2, Odessa, TX 79761
      View Details
    • $240 SF/Yr
      8,488 SF

      Odessa Office Space For Rent

      Conveniently located office space with prime access and spacious parking.
      1128 S Grandview Unit Office B7, Odessa, TX 79761
      View Details
    • $240 SF/Yr
      8,488 SF

      Office Space in Convenient Location

      Office space with prime access and spacious parking available for rent.
      1128 S Grandview Unit Office C4, Odessa, TX 79761
      View Details
    • $240 SF/Yr
      8,488 SF

      Office Space in Convenient Location

      Office space with prime access to transportation and services.
      1128 S Grandview Unit Office C7, Odessa, TX 79761
      View Details
    • $300 /Mo
      8,488 SF

      Office Space in Odessa, TX

      Office space for rent with convenient location and ample parking.
      1128 S Grandview Unit Office B4, Odessa, TX 79761
      View Details
    • $500 /Mo
      8,488 SF

      Office Space in Odessa, TX

      Conveniently located office space with ample parking in Odessa.
      1128 S Grandview Unit Office C9, Odessa, TX 79761
      View Details
    • $300 /Mo
      8,488 SF

      Office Space in Convenient Location

      Office space with prime access to transportation and spacious parking.
      1128 S Grandview Unit Office B3, Odessa, TX 79761
      View Details
    • $300 /Mo
      8,488 SF

      Office Space in Convenient Location

      Office space with prime access, essential services, and spacious parking.
      1128 S Grandview Unit Office B1, Odessa, TX 79761
      View Details

    FAQs

    What type of property is this?
    Retail space - Retail space available near HEB Grocery at Odessa Loop.
    Where is this retail space located?
    The property is located at 3001 W University Blvd Odessa, TX.
    What are key features of this property?
    This property features: - Outparcel to new HEB Grocery store; - 2,527 - 5,055 SF available; - No HEB Use Restrictions
    (214) 996-9990
    Request Owner's contact information
    3001 W University Blvd Odessa, TX 79762
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3001 W University Blvd
    Odessa, TX 79762
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    3001 W University Blvd Odessa, TX 79762
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Robert Wright
    Robert Wright
    (214) 996-9990
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.