Commercial Land with Existing
For Sale
$399,900
1301 E 2nd St, Odessa, TX 79761
Commercial Sale, Odessa, TX
Property Size1,972 SF
Lot Size0.52 Acres
Price / SF$202.79
Days on Market540
Property Features for 1301 E 2nd St
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
Dixie Addn
Standard status
Active
Size
1,972 SF
Lot size
0.52 Acres
Taxes and HOA fees
Tax Description
DIXIE ADDN, BLOCK 1, LOTS 1-2
Tax Annual Amount
4138
Legal Description
DIXIE ADDN, BLOCK 1, LOTS 1-2
Building Details
Year built
1962
Listing Agency:
Pine & Beckett - Chris Beckett
(432) 686-7000
Listed By:
Chris Beckett Broker Owner CRS GRI ASR e-Pro
(432) 349-7000
Added: Apr 24, 2025
Changed: Oct 5
Last Checked: Oct 15 at 12:06AM
MLS# 50081668
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 commercial land offering includes an existing 1,972-square-foot structure in Odessa. The property is identified as a former gas station, with no tanks on site, and is offered in its current as-is condition. The building requires renovation, and no remediation reports or inspections are included.
The parcel occupies the corner of Dixie and E 2nd Street, also identified as Business 20. Light Industrial LI zoning is in place. Traffic counts reported in the property information total 19,000 cars per day on 2nd Street/Business 20 and 11,500 cars per day on Dixie. The site is suited to a range of commercial concepts subject to applicable approvals and property condition.
The parcel occupies the corner of Dixie and E 2nd Street, also identified as Business 20. Light Industrial LI zoning is in place. Traffic counts reported in the property information total 19,000 cars per day on 2nd Street/Business 20 and 11,500 cars per day on Dixie. The site is suited to a range of commercial concepts subject to applicable approvals and property condition.
Key Highlights
- 1,972 SQFT +/- existing structure
- Light Industrial LI zoning
- Former gas station with no tanks on site
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,409
Cap Rate
6.60%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$528,180
$528.2K
Cap Rate 7%
$377,271
$377.3K
Cap Rate 9%
$293,433
$293.4K
Market Conditions
NOI Build-Up for 1,972 SF
Gross rent
$37.9K $19.20/SF
− Vacancy
−$2.7K −$1.34/SF
EGI
$35.2K $17.86/SF
− OpEx
−$8.8K −$4.46/SF
NOI
$26.4K $13.39/SF
Area
Odessa, TX
Vacancy
7.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$528,180
Cap Rate 7%
$377,271
Cap Rate 9%
$293,433
Alternative Uses
Best Use
Specialty Retail
$377.3K
$330.1K – $440.2K
NOI $26,409 @ 7.0% cap · market cap 6.60%
Second Best
—
—
no second resolved use
Theoretical Best
Flex RnD
$2.87M
$2.51M – $3.34M
NOI $200,679 @ 7.0% cap · market cap 50.18%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,026
Businesses Nearby
Explore this area
Business Placement
Demographics for 79761, TX
30,187
Population
13,591
Households
2.2
Avg Household Size
35
Median Age
14%
College-Educated
76%
High-School Grad
10.4 sq mi
ZIP Area
2,903
Density / Sq Mi
$69,279
Median Household Income
$42,724
Median Earnings
$1,246
Median Rent
$158,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Commercial land - Corner commercial parcel with an existing structure, Light Industrial zoning, and access to two high-traffic roads.
Where is this commercial land located?
The property is located at 1301 E 2nd St Odessa, TX.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: 1,972 SQFT +/- existing structure; Light Industrial LI zoning; Former gas station with no tanks on site
