Restaurant
For Sale
$625,000
1541 John Ben Shepperd Pkwy #7, Odessa, TX 79761
The property is currently operating as Artis Italian Restaurant along John Ben Shepperd Parkway.
Property Size3,230 SF
Price / SF$193.50
Days on Market168
Property Features for 1541 John Ben Shepperd Pkwy #7
General Information
Standard status
Active
Size
3,230 SF
Property subtype
Commercial
Additional Details
Currently Operating
Yes
Taxes and HOA fees
Annual Taxes
$4,408
Building Details
Building Size
3,230 SF
Year Built
1980
Listing Agency:
Real Broker, LLC
(855) 450-0442
Listed By:
Lead Group Team At Real Broker
(432) 299-3539
Source:
Gloriarealestate
Added: May 20
Changed: Oct 25
Last Checked: Oct 29 at 10:54PM
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 Real Broker, LLC
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 3,230-square-foot restaurant property was built in 1980 and is currently operating as Artis Italian Restaurant. Its address is 1541 John Ben Shepperd Pkwy #7 in Odessa.
The property fronts John Ben Shepperd Parkway and is near shopping, restaurants, and commercial developments.
The property fronts John Ben Shepperd Parkway and is near shopping, restaurants, and commercial developments.
Key Highlights
- 3,230‑square‑foot restaurant property
- Currently operating as Artis Italian Restaurant
- Built in 1980
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.
How Realmo checks its estimates
Property 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
Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - The property is currently operating as Artis Italian Restaurant along John Ben Shepperd Parkway.
Where is this conventional restaurant located?
The property is located at 1541 John Ben Shepperd Pkwy #7 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; Currently operating as Artis Italian Restaurant; Built in 1980
