Operating Restaurant with Real
New
For Sale
$1,500,000
1509 N County Rd W, Odessa, TX 79763
Commercial Sale, Odessa, TX
Property Size6,060 SF
Lot Size0.40 Acres
Price / SF$247.52
Days on Market2
Property Features for 1509 N County Rd W
General Information
Property type
Commercial Sale
Property subtype
Other
Accessibility
Accessible Approach with Ramp
Subdivision
Broadway
Special listing conditions
Short Sale
Standard status
Active
APN
04000.00231.00000
Size
6,060 SF
Lot size
0.40 Acres
Taxes and HOA fees
Tax Annual Amount
6300
Utilities
Water source
Private
Building Details
Year built
1965
Building materials
Brick, Stucco, Block
Roof type
Composition
Listing Agency:
Heritage Real Estate
(432) 701-0550
Listed By:
Alejandro Rodriguez
(432) 888-0655
Added: Sep 7
Last Checked: Sep 8 at 2:06PM
MLS# 177388
Copyright © 2026 Odessa 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.
Operating restaurant property offered with the business, land, building, furniture, fixtures, appliances, and equipment located on-site. The property contains 6,060 square feet on approximately 0.402 acres, providing a complete restaurant operation rather than a vacant commercial shell. Construction includes brick, stucco, and block components, with a composition roof and an accessible approach with ramp.
Built in 1965, the property is located at 1509 N County Rd W in Odessa, Texas, within Ector County. Water is supplied privately. The business is currently operating, and the sale includes the established restaurant operation and its installed contents.
Built in 1965, the property is located at 1509 N County Rd W in Odessa, Texas, within Ector County. Water is supplied privately. The business is currently operating, and the sale includes the established restaurant operation and its installed contents.
Key Highlights
- Operating restaurant business included with land and building
- 6,060 square feet on approximately 0.402 acres
- Furniture, fixtures, appliances, and equipment included
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
$81,156
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
5.41%
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%
$1,623,120
$1.6M
Cap Rate 7%
$1,159,371
$1.2M
Cap Rate 9%
$901,733
$901.7K
Market Conditions
NOI Build-Up for 6,060 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
$116.4K $19.20/SF
− Vacancy
−$8.1K −$1.34/SF
EGI
$108.2K $17.86/SF
− OpEx
−$27.1K −$4.46/SF
NOI
$81.2K $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 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%
$1,623,120
Cap Rate 7%
$1,159,371
Cap Rate 9%
$901,733
Alternative Uses
Best Use
Specialty Retail
$1.16M
$1.01M – $1.35M
NOI $81,156 @ 7.0% cap · market cap 5.41%
Second Best
—
—
no second resolved use
Theoretical Best
Flex RnD
$8.81M
$7.71M – $10.28M
NOI $616,691 @ 7.0% cap · market cap 41.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
358
Businesses Nearby
Under-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 Retail 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?
Conventional restaurant - Turnkey restaurant sale includes the operating business, building, land, furnishings, equipment, and on-site appliances.
Where is this conventional restaurant located?
The property is located at 1509 N County Rd W Odessa, TX.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Operating restaurant business included with land and building; 6,060 square feet on approximately 0.402 acres; Furniture, fixtures, appliances, and equipment included
