Flex Space with Workshop and
For Sale
$1,079,000
12200 W I-20, Odessa, TX 79763
COMMERCIAL - Odessa, TX
Property Size7,600 SF
Lot Size2.58 Acres
Price / SF$141.97
Days on Market147
Property Features for 12200 W I-20
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
T-2-S
Standard status
Active
Size
7,600 SF
Lot size
2.58 Acres
Taxes and HOA fees
Tax Description
2.577 acres out of 6.225 acres tract volume: 1333 pg 854 of: T-2-S BLK 43 SEC 43 (CARD #18)
Tax Annual Amount
15000
Legal Description
2.577 acres out of 6.225 acres tract volume: 1333 pg 854 of: T-2-S BLK 43 SEC 43 (CARD #18)
Amenities
HVAC
full restrooms
Building Details
Year built
2011
Listing Agency:
New Heights Real Estate
(210) 824-1476
Listed By:
Cassandra Pearce · License #TREC#0588281
(432) 703-2545
Added: Mar 31
Changed: Aug 4
Last Checked: Aug 24 at 12:06AM
MLS# 50093943
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 7,600-square-foot flex property, built in 2011, combines a substantial workshop with office and housing improvements. The shop measures 4,800 square feet, while approximately 800 square feet is allocated to offices with bathrooms. The property also includes two offices, full restrooms, HVAC, and three duplexes containing six rooms in total.
Positioned at 12200 W I-20 in Odessa, the site offers highway frontage and interstate visibility. A fenced yard and gated access support controlled site operations. Water is supplied by a shared well, and septic systems serve the shop and housing units.
Positioned at 12200 W I-20 in Odessa, the site offers highway frontage and interstate visibility. A fenced yard and gated access support controlled site operations. Water is supplied by a shared well, and septic systems serve the shop and housing units.
Key Highlights
- 7,600‑square‑foot flex property built in 2011
- 4,800‑square‑foot workshop with approximately 800 square feet of offices and bathrooms
- Three duplexes with six rooms total
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
$68,644
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
6.36%
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%
$1,372,880
$1.4M
Cap Rate 7%
$980,629
$980.6K
Cap Rate 9%
$762,711
$762.7K
Market Conditions
NOI Build-Up for 7,600 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
$104.9K $13.80/SF
− Vacancy
−$6.8K −$0.90/SF
EGI
$98.1K $12.90/SF
− OpEx
−$29.4K −$3.87/SF
NOI
$68.6K $9.03/SF
Area
Odessa, TX
Vacancy
6.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
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%
$1,372,880
Cap Rate 7%
$980,629
Cap Rate 9%
$762,711
Alternative Uses
Best Use
Flex RnD
$11.05M
$9.67M – $12.89M
NOI $773,408 @ 7.0% cap · market cap 71.68%
Second Best
Industrial
$6.44M
$5.64M – $7.52M
NOI $451,030 @ 7.0% cap · market cap 41.80%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
13
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 79763, TX
39,767
Population
15,063
Households
2.6
Avg Household Size
33
Median Age
9%
College-Educated
70%
High-School Grad
50.4 sq mi
ZIP Area
789
Density / Sq Mi
$57,618
Median Household Income
$45,267
Median Earnings
$1,097
Median Rent
$127,300
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?
Flex space - Highway-fronting flex property with workshop, office areas, fenced yard, gated access, and attached housing improvements.
Where is this flex space located?
The property is located at 12200 W I-20 Odessa, TX.
What is the asking price?
The asking price for this property is $1,079,000.
What are key features of this property?
This property features: 7,600‑square‑foot flex property built in 2011; 4,800‑square‑foot workshop with approximately 800 square feet of offices and bathrooms; Three duplexes with six rooms total
