Office-Showroom Building with
For Sale
$390,000
1615 Voss Ave, Odem, TX 78370
Two-suite office and showroom building with a 2024-added warehouse, ample parking, and a fenced yard.
Property Size3,150 SF
Lot Size0.96 Acres
Price / SF$123.81
Days on Market57
Property Features for 1615 Voss Ave
General Information
Standard status
Active
Size
3,150 SF
Total Parking Spaces
20
Lot size
0.96 Acres
Zoning
CB
Site & Location
Highway Access
Yes
Road Access
Yes
Fenced Yard
Yes
Additional Details
Office Units
2
Building Details
Year Built
2007
Listing Agency:
Keller Williams Coastal Bend
(361) 633-1404
Listed By:
Laura Miller · License #0433744
(361) 633-1404
Source:
Exprealty
Added: Jul 1
Changed: Aug 23
Last Checked: Aug 26 at 12:38PM
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 Keller Williams Coastal Bend
Investment Insights
Based on property information with market context.
Built in 2007, this well-built stucco commercial building is currently configured for professional office and showroom use and features two separate suites. Suite 1 includes a large showroom, private office, full bathroom, and kitchenette. Suite 2 offers two private offices and a large common space, with an option for adding a third office, along with its own bathroom and kitchenette. Tile flooring runs throughout the building, and a brand-new hot water heater has been installed.
The property is located on US Hwy 77, a major thoroughfare, just under 3.5 miles from IH 37. It sits on approximately 0.96 acres across four lots with about 20 parking spaces. In 2024, a new 750 sf warehouse was added for additional storage or operational needs. A recently installed LED sign conveys with the sale.
For outdoor use and expansion, the site includes a fenced backyard secured with a rolling gate. The property is zoned Central Business District (CB) by the City of Odem and benefits from zero front and side lot line setback requirements, providing flexibility for reconfiguration or future growth within the site.
The property is located on US Hwy 77, a major thoroughfare, just under 3.5 miles from IH 37. It sits on approximately 0.96 acres across four lots with about 20 parking spaces. In 2024, a new 750 sf warehouse was added for additional storage or operational needs. A recently installed LED sign conveys with the sale.
For outdoor use and expansion, the site includes a fenced backyard secured with a rolling gate. The property is zoned Central Business District (CB) by the City of Odem and benefits from zero front and side lot line setback requirements, providing flexibility for reconfiguration or future growth within the site.
Key Highlights
- 2007 stucco commercial building set up as professional office and showroom, with two separate suites
- Suite 1: large showroom, private office, full bathroom, and kitchenette; suited for retail or client‑facing use
- Suite 2: two private offices plus large common space (room to add a third office), with bathroom and kitchenette
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
$15,689
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
4.02%
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%
$313,780
$313.8K
Cap Rate 7%
$224,129
$224.1K
Cap Rate 9%
$174,322
$174.3K
Market Conditions
NOI Build-Up for 3,150 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
$25.3K $8.04/SF
− Vacancy
−$2.9K −$0.92/SF
EGI
$22.4K $7.12/SF
− OpEx
−$6.7K −$2.13/SF
NOI
$15.7K $4.98/SF
Area
San Patricio County, TX
Vacancy
11.50%
Lease Rate
$8.04 /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%
$313,780
Cap Rate 7%
$224,129
Cap Rate 9%
$174,322
Alternative Uses
Best Use
Office B
$582.2K
$509.4K – $679.2K
NOI $40,753 @ 7.0% cap · market cap 10.45%
Second Best
Industrial
$224.1K
$196.1K – $261.5K
NOI $15,689 @ 7.0% cap · market cap 4.02%
Theoretical Best
Hotel Hospitality
$1.62M
$1.41M – $1.89M
NOI $113,117 @ 7.0% cap · market cap 29.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Office units
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
112
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 78370, TX
4,746
Population
1,790
Households
2.7
Avg Household Size
41
Median Age
13%
College-Educated
82%
High-School Grad
110.1 sq mi
ZIP Area
43
Density / Sq Mi
$69,327
Median Household Income
$37,924
Median Earnings
$1,132
Median Rent
$190,800
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Two-suite office and showroom building with a 2024-added warehouse, ample parking, and a fenced yard.
Where is this flex space located?
The property is located at 1615 Voss Ave Odem, TX.
What is the asking price?
The asking price for this property is $390,000.
What are key features of this property?
This property features: 2007 stucco commercial building set up as professional office and showroom, with two separate suites; Suite 1: large showroom, private office, full bathroom, and kitchenette; suited for retail or client‑facing use; Suite 2: two private offices plus large common space (room to add a third office), with bathroom and kitchenette
