Freestanding Restaurant
For Sale
$625,000
1541 John Ben Shepperd Pkwy, Odessa, TX 79761
Commercial Sale, Odessa, TX
Property Size3,230 SF
Lot Size0.21 Acres
Price / SF$193.50
Days on Market110
Property Features for 1541 John Ben Shepperd Pkwy
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
Wedgewood
Standard status
Active
APN
33800.01807.09000
Size
3,230 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Annual Amount
4409
Building Details
Year built
1980
Building materials
Concrete
Roof type
Composition
Listing Agency:
Real Broker, LLC
(855) 450-0442
Listed By:
Lead Group Team At Real Broker, Llc
(432) 299-3539
Added: Jun 22
Changed: Oct 8
Last Checked: Oct 9 at 3:06AM
MLS# 174864
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.
Configured for restaurant use, this Odessa property contains 3,230 square feet on a 0.207-acre parcel. Concrete construction and a composition roof are recorded for the building, which dates to 1980.
The property fronts John Ben Shepperd Parkway in an area with shopping, restaurants, and established commercial development. Its location provides access to the surrounding commercial corridor.
The property fronts John Ben Shepperd Parkway in an area with shopping, restaurants, and established commercial development. Its location provides access to the surrounding commercial corridor.
Key Highlights
- 3,230‑square‑foot restaurant property
- 0.207‑acre parcel
- Concrete construction with a composition roof
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$43,256
Cap Rate
6.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$865,120
$865.1K
Cap Rate 7%
$617,943
$617.9K
Cap Rate 9%
$480,622
$480.6K
Market Conditions
NOI Build-Up for 3,230 SF
Gross rent
$62.0K $19.20/SF
− Vacancy
−$4.3K −$1.34/SF
EGI
$57.7K $17.86/SF
− OpEx
−$14.4K −$4.46/SF
NOI
$43.3K $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%
$865,120
Cap Rate 7%
$617,943
Cap Rate 9%
$480,622
Alternative Uses
Best Use
Specialty Retail
$617.9K
$540.7K – $720.9K
NOI $43,256 @ 7.0% cap · market cap 6.92%
Second Best
—
—
no second resolved use
Theoretical Best
Flex RnD
$4.70M
$4.11M – $5.48M
NOI $328,699 @ 7.0% cap · market cap 52.59%
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
523
Businesses Nearby
Under-served
Demand for This Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - An established restaurant property offers a dedicated dining setting with convenient access along a commercial parkway.
Where is this conventional restaurant located?
The property is located at 1541 John Ben Shepperd Pkwy Odessa, TX.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: 3,230‑square‑foot restaurant property; 0.207‑acre parcel; Concrete construction with a composition roof
