Flex Space with Drive-Through
For Sale
$1,674,004
16751 W Basin St, Odessa, TX 79763
COMMERCIAL - Odessa, TX
Property Size9,950 SF
Lot Size4.00 Acres
Price / SF$168.24
Days on Market191
Property Features for 16751 W Basin St
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
Basin Industrial Addition
Standard status
Active
Size
9,950 SF
Lot size
4.00 Acres
Taxes and HOA fees
Tax Description
east half of LOT 2 BLK 2 BASIN INDUSTRIAL ADDITION
Tax Annual Amount
558
Legal Description
east half of LOT 2 BLK 2 BASIN INDUSTRIAL ADDITION
Amenities
conference room
breakroom
His/her restrooms
Washbay
covered parking
Secured IT room
24Hr access
Building Details
Year built
2023
Listing Agency:
New Heights Real Estate
(210) 824-1476
Listed By:
Cassandra Pearce · License #TREC#0588281
(432) 703-2545
Added: Feb 14
Changed: Aug 4
Last Checked: Aug 24 at 5:06AM
MLS# 50090860
Copyright © 2026 Permian Basin 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.
Built in 2023, this 9,950-square-foot flex property occupies 4 acres and combines industrial functionality with substantial office improvements. The building includes 3 drive-through bays, a washbay, covered parking, a front overhang, separate his-and-her restrooms, a breakroom, conference room, and a secured IT room prepared for fiber optics. Additional features include a second-story restroom and shower, washer and dryer connections, a metered water system, compressor line, and 480-volt three-phase power.
The property is positioned on a corner lot immediately off I-20 and FM 866 in Odessa, with 24-hour access. Its configuration supports a mix of production, service, storage, and administrative functions within one facility.
The property is positioned on a corner lot immediately off I-20 and FM 866 in Odessa, with 24-hour access. Its configuration supports a mix of production, service, storage, and administrative functions within one facility.
Key Highlights
- 4‑acre flex property with 9,950 square feet
- Built in 2023 with 3 drive‑through bays
- Immediately off I‑20 and FM 866 in Odessa
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
$132,422
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
7.91%
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%
$2,648,440
$2.6M
Cap Rate 7%
$1,891,743
$1.9M
Cap Rate 9%
$1,471,356
$1.5M
Market Conditions
NOI Build-Up for 9,950 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
$209.0K $21.00/SF
− Vacancy
−$32.4K −$3.26/SF
EGI
$176.6K $17.75/SF
− OpEx
−$44.1K −$4.44/SF
NOI
$132.4K $13.31/SF
Area
Odessa, TX
Vacancy
15.50%
Lease Rate
$21.00 /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%
$2,648,440
Cap Rate 7%
$1,891,743
Cap Rate 9%
$1,471,356
Alternative Uses
Best Use
Flex RnD
$14.47M
$12.66M – $16.88M
NOI $1,012,554 @ 7.0% cap · market cap 60.49%
Second Best
Warehouse
$11.70M
$10.24M – $13.65M
NOI $819,288 @ 7.0% cap · market cap 48.94%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Drive-in doors
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
30
Businesses Nearby
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 Office 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?
Flex space - Newer industrial facility with office areas, a washbay, secured IT room, and 24-hour access.
Where is this flex space located?
The property is located at 16751 W Basin St Odessa, TX.
What is the asking price?
The asking price for this property is $1,674,004.
What are key features of this property?
This property features: 4‑acre flex property with 9,950 square feet; Built in 2023 with 3 drive‑through bays; Immediately off I‑20 and FM 866 in Odessa
