Retail Space for
For Sale
$270,000
6115 Andrews Hwy, Odessa, TX 79764
Retail property offered for sale at 6115 Andrews Hwy in Odessa, Texas.
Property Size2,021 SF
Price / SF$133.60
Days on Market64
Property Features for 6115 Andrews Hwy
General Information
Standard status
Active
Size
2,021 SF
Building Details
Year Built
1957
Listing Agency:
Black Orchid Real Estate, LLC
Listed By:
Ronda Peroutka · License #0680846
(432) 202-0182
Source:
Billlanier
Added: Jul 25
Changed: Sep 19
Last Checked: Sep 24 at 12:14PM
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 Black Orchid Real Estate, LLC
Investment Insights
Based on property information with market context.
This retail space is being offered for sale as a commercial property at 6115 Andrews Hwy in Odessa, Texas.
The listing is classified as retail space within the broader commercial real estate category, with the property presented for purchase. Specific interior layout details, frontage, and condition information were not provided in the materials available for this listing, so interested parties should confirm all functional and operational specifics during due diligence.
For brokers and tenants evaluating a retail use, this offering provides a straightforward opportunity to acquire a retail asset in Odessa with the address location available for site review.
The listing is classified as retail space within the broader commercial real estate category, with the property presented for purchase. Specific interior layout details, frontage, and condition information were not provided in the materials available for this listing, so interested parties should confirm all functional and operational specifics during due diligence.
For brokers and tenants evaluating a retail use, this offering provides a straightforward opportunity to acquire a retail asset in Odessa with the address location available for site review.
Key Highlights
- Retail property for sale at 6115 Andrews Hwy in Odessa, Texas
- Built in 1957
- City road location
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
$22,523
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
8.34%
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%
$450,460
$450.5K
Cap Rate 7%
$321,757
$321.8K
Cap Rate 9%
$250,256
$250.3K
Market Conditions
NOI Build-Up for 2,021 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
$35.2K $17.40/SF
− Vacancy
−$3.0K −$1.48/SF
EGI
$32.2K $15.92/SF
− OpEx
−$9.7K −$4.78/SF
NOI
$22.5K $11.14/SF
Area
Odessa, TX
Vacancy
8.50%
Lease Rate
$17.40 /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%
$450,460
Cap Rate 7%
$321,757
Cap Rate 9%
$250,256
Alternative Uses
Best Use
Retail
$321.8K
$281.5K – $375.4K
NOI $22,523 @ 7.0% cap · market cap 8.34%
Second Best
—
—
no second resolved use
Theoretical Best
Flex RnD
$2.94M
$2.57M – $3.43M
NOI $205,666 @ 7.0% cap · market cap 76.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
236
Businesses Nearby
Explore this area
Business Placement
Demographics for 79764, TX
26,271
Population
10,326
Households
2.5
Avg Household Size
33
Median Age
20%
College-Educated
74%
High-School Grad
54.5 sq mi
ZIP Area
482
Density / Sq Mi
$68,367
Median Household Income
$52,054
Median Earnings
$944
Median Rent
$150,400
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?
Retail space - Retail property offered for sale at 6115 Andrews Hwy in Odessa, Texas.
Where is this retail space located?
The property is located at 6115 Andrews Hwy Odessa, TX.
What is the asking price?
The asking price for this property is $270,000.
What are key features of this property?
This property features: Retail property for sale at 6115 Andrews Hwy in Odessa, Texas; Built in 1957; City road location
