Restaurant Property Near Medical
For Sale
$435,000
1306 E 7th St, Odessa, TX 79761
Restaurant property with access to downtown, nearby hospitals, the medical district, and surrounding businesses.
Property Size1,440 SF
Lot Size0.20 Acres
Price / SF$302.08
Days on Market47
Property Features for 1306 E 7th St
General Information
Standard status
Active
Size
1,440 SF
Lot size
0.20 Acres
Building Details
Year Built
2001
Listing Agency:
Wright Choice Real Estate & Associates LLC
Listed By:
Gloria Wright/ Damien Wright
(432) 352-1926
Source:
Hauspg
Added: Sep 21
Changed: Oct 25
Last Checked: Oct 7 at 1:57PM
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 Wright Choice Real Estate & Associates LLC
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Investment Insights
Based on property information with market context.
This restaurant property was built in 2001 and is positioned for continued restaurant use. The offering includes the adjoining 0.20 lot located between the property and Church's Chicken.
The site is accessible to downtown and sits within reach of local hospitals, the medical district, and surrounding businesses. A leasing arrangement may also be considered, providing flexibility for an operator or occupant evaluating the property.
The site is accessible to downtown and sits within reach of local hospitals, the medical district, and surrounding businesses. A leasing arrangement may also be considered, providing flexibility for an operator or occupant evaluating the property.
Key Highlights
- Restaurant property built in 2001
- Includes the 0.20 lot between the property and Church's Chicken
- Accessible to downtown
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,284
Cap Rate
4.43%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$385,680
$385.7K
Cap Rate 7%
$275,486
$275.5K
Cap Rate 9%
$214,267
$214.3K
Market Conditions
NOI Build-Up for 1,440 SF
Gross rent
$27.6K $19.20/SF
− Vacancy
−$1.9K −$1.34/SF
EGI
$25.7K $17.86/SF
− OpEx
−$6.4K −$4.46/SF
NOI
$19.3K $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%
$385,680
Cap Rate 7%
$275,486
Cap Rate 9%
$214,267
Alternative Uses
Best Use
Specialty Retail
$275.5K
$241.1K – $321.4K
NOI $19,284 @ 7.0% cap · market cap 4.43%
Second Best
—
—
no second resolved use
Theoretical Best
Flex RnD
$2.09M
$1.83M – $2.44M
NOI $146,541 @ 7.0% cap · market cap 33.69%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
289
Businesses Nearby
12k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 79%
Shops & Services 21%
Golden Chick
Dining
9,338 visits/mo
0.4 miles
Chevron
Shops & Services
2,482 visits/mo
0.5 miles
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Restaurant property with access to downtown, nearby hospitals, the medical district, and surrounding businesses.
Where is this conventional restaurant located?
The property is located at 1306 E 7th St Odessa, TX.
What is the asking price?
The asking price for this property is $435,000.
What are key features of this property?
This property features: Restaurant property built in 2001; Includes the 0.20 lot between the property and Church's Chicken; Accessible to downtown
