Corner Office Suite with
123 W 10th St Odessa, TX 79761
For Sale
$148,000
Small office suite with front office, private office, restroom, and covered two-car parking on a corner location.
Property Size648 SF
Price / SF$228.40
Days on Market632
Property Features for 123 W 10th St
General Information
- Standard status
- Active
- Size
- 648 SF
- Property subtype
- Office
Building Details
- Year Built
- 1970
Listing Agency:
(432) 889-2569
Listed By:
Home Team Real Estate
(432) 889-2569
Source:
Xome
Added: Oct 31, 2024
Changed: Jul 23
Last Checked: Jul 24 at 4:58AM
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 Home Team Real Estate
Investment Insights
Based on property information with market context.
This small commercial office suite features a front office area with space to add a second desk, along with a second private office, a restroom, and a closet for storage. The exterior includes customer front parking and a two-car covered parking area.
The property is located on a corner at 10th Street and Lee Avenue, with easy access to Grant Avenue and Downtown Odessa.
The most recent noted improvement is a new roof installed in September. Previously operated as an insurance business, the space is now offered for new ownership to support a variety of small office uses.
The property is located on a corner at 10th Street and Lee Avenue, with easy access to Grant Avenue and Downtown Odessa.
The most recent noted improvement is a new roof installed in September. Previously operated as an insurance business, the space is now offered for new ownership to support a variety of small office uses.
Key Highlights
- Small commercial office suite at the corner of 10th & Lee Ave
- Interior includes front office area, second private office, and 1 bathroom
- Corner lot with paved road access and city road location
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $13.6k | $21.00 |
| − Vacancy | −$2.1k | −$3.26 |
| EGI | $11.5k | $17.75 |
| − OpEx | −$2.9k | −$4.44 |
| NOI | $8.6k | $13.31 |
648 SF · lease $21.00/SF/yr · vacancy 15.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$123.2K
$107.8K – $143.7K
NOI $8,624 @ 7.0% cap · market cap 5.83%
Second Best
—
—
no second resolved use
Theoretical Best
Flex RnD
$942.0K
$824.3K – $1.10M
NOI $65,943 @ 7.0% cap · market cap 44.56%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Waid Insurance Agency ...
Insurance Agency
FAQs
What type of property is this?
Office units - Small office suite with front office, private office, restroom, and covered two-car parking on a corner location.
Where is this office units located?
The property is located at 123 W 10th St Odessa, TX.
What is the asking price?
The asking price for this property is $148,000.
What are key features of this property?
This property features: Small commercial office suite at the corner of 10th & Lee Ave; Interior includes front office area, second private office, and 1 bathroom; Corner lot with paved road access and city road location
