Flex Property with
1622 W 2nd St, Odessa, TX 79763
For Sale
$850,000
Commercial Sale, Odessa, TX
Property Size12,936 SF
Lot Size2.06 Acres
Price / SF$65.71
Days on Market126
Property Features for 1622 W 2nd St
General Information
Property type
Property subtype
Fencing
Lot features
Subdivision
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Annual Amount
Building Details
Year built
Building materials
Roof type
Buildings
Listing Agency:
NRG Realty Group, LLC
Listed By:
Justin Dodd · License TX #9004023
(432) 363-4777
Added: Jul 11
Changed: Oct 26
Last Checked: Nov 13 at 11:06PM
MLS# 173724
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.
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Investment Insights
Based on property information with market context.
This flex property encompasses 12,936 SF across three separate buildings on 2.06 acres. The 6,972 SF primary building combines office and warehouse functions with a sales counter and showroom arrangement. It includes three 14-foot overhead doors. A separate 4,000 SF maintenance shop provides four 16-foot overhead doors and is configured for crane installation. An open-air wash bay adds another functional component to the improvements.
The property is located at 1622 W 2nd St in Odessa, Texas. The site has metal siding, a metal roof, and chain-link fencing around the stabilized yard. Built in 1965, the property offers a combination of enclosed commercial space, service-oriented improvements, and secured outdoor area.
The property is located at 1622 W 2nd St in Odessa, Texas. The site has metal siding, a metal roof, and chain-link fencing around the stabilized yard. Built in 1965, the property offers a combination of enclosed commercial space, service-oriented improvements, and secured outdoor area.
Key Highlights
- 12,936 SF across 3 separate buildings on 2.06 acres
- 6,972 SF main office/warehouse with sales counter and showroom setup
- 4,000 SF maintenance shop with (4) 16' OHD's
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$66,615
Cap Rate
7.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,332,300
$1.3M
Cap Rate 7%
$951,643
$951.6K
Cap Rate 9%
$740,167
$740.2K
Market Conditions
NOI Build-Up for 12,936 SF
Gross rent
$104.0K $8.04/SF
− Vacancy
−$8.8K −$0.68/SF
EGI
$95.2K $7.36/SF
− OpEx
−$28.5K −$2.21/SF
NOI
$66.6K $5.15/SF
Area
Ector County, TX
Vacancy
8.50%
Lease Rate
$8.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,332,300
Cap Rate 7%
$951,643
Cap Rate 9%
$740,167
Alternative Uses
Best Use
Office B
$2.46M
$2.15M – $2.87M
NOI $172,162 @ 7.0% cap · market cap 20.25%
Second Best
Warehouse
$1.16M
$1.01M – $1.35M
NOI $80,890 @ 7.0% cap · market cap 9.52%
Theoretical Best
Office A
$3.29M
$2.88M – $3.84M
NOI $230,153 @ 7.0% cap · market cap 27.08%
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
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
849
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
$127,300
Median Home Value
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Market
Average Price Trend$/SF for Flex space in Odessa, TX
Properties on Market for Flex space in Odessa
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Flex space - Multi-building commercial property combining office, warehouse, maintenance, and open-air wash-bay areas within a secured site.
Where is this flex space located?
The property is located at 1622 W 2nd St Odessa, TX.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 12,936 SF across 3 separate buildings on 2.06 acres; 6,972 SF main office/warehouse with sales counter and showroom setup; 4,000 SF maintenance shop with (4) 16' OHD's
