Single-Tenant Firestone Auto
For Sale
Contact for pricing
2020 Andrews Hwy, Odessa, TX 79761
Net-leased automotive service property with a recently extended lease and additional renewal options.
Property Size12,624 SF
Price / SF$247.97
Days on Market82
Property Features for 2020 Andrews Hwy
General Information
Standard status
Active
Size
12,624 SF
Property subtype
RETAIL
Occupancy
100%
Building Details
Tenancy
Single
Listing Agency:
SAB
(646) 809-8835
Listed By:
Michael Scali · License #10301219652
Source:
Moodyscre
Added: May 20
Changed: Jul 31
Last Checked: Jul 31 at 9:45AM
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 SAB
Investment Insights
Based on property information with market context.
This 12,624-square-foot auto shop is operated by Firestone as a single-tenant automotive service property. Firestone has operated at the location for over 35 years, providing an established operating history for the asset.
The property is secured by a double-net lease with a recently executed 10-year extension. The lease includes three remaining 5-year options, each carrying 10% rental increases. The combination of a long operating history, extended lease term, and defined renewal options supports a straightforward single-tenant net-lease profile.
The property is secured by a double-net lease with a recently executed 10-year extension. The lease includes three remaining 5-year options, each carrying 10% rental increases. The combination of a long operating history, extended lease term, and defined renewal options supports a straightforward single-tenant net-lease profile.
Key Highlights
- 12,624‑square‑foot single‑tenant auto shop
- Firestone has operated at the location for over 35 years
- Double‑net (NN) lease structure
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
$140,691
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
4.49%
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%
$2,813,820
$2.8M
Cap Rate 7%
$2,009,871
$2.0M
Cap Rate 9%
$1,563,233
$1.6M
Market Conditions
NOI Build-Up for 12,624 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
$219.7K $17.40/SF
− Vacancy
−$18.7K −$1.48/SF
EGI
$201.0K $15.92/SF
− OpEx
−$60.3K −$4.78/SF
NOI
$140.7K $11.14/SF
Area
Odessa, TX
Vacancy
8.50%
Lease Rate
$17.40 /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%
$2,813,820
Cap Rate 7%
$2,009,871
Cap Rate 9%
$1,563,233
Alternative Uses
Best Use
Industrial
$10.70M
$9.36M – $12.49M
NOI $749,184 @ 7.0% cap · market cap 23.93%
Second Best
Retail
$2.01M
$1.76M – $2.34M
NOI $140,691 @ 7.0% cap · market cap 4.49%
Theoretical Best
Flex RnD
$18.35M
$16.06M – $21.41M
NOI $1,284,672 @ 7.0% cap · market cap 41.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
546
Businesses Nearby
Well-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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Danny's Body Shop Inc — 1306 N Grant Ave, Odessa, TX 79761
- Tatum Battery & Electric — 803 N Muskingum Ave, Odessa, TX 79761
- Advanced Automotive — 107 E 12th St, Odessa, TX 79761
- Jr's Tire Repair Shop — 1100 N Grant Ave, Odessa, TX 79761
- Same Day Auto — 9055 w albert dr, odessa, tx 79764
Frequently Asked Questions
What type of property is this?
Auto shop - Net-leased automotive service property with a recently extended lease and additional renewal options.
Where is this auto shop located?
The property is located at 2020 Andrews Hwy Odessa, TX.
What is the asking price?
The asking price for this property is $3,130,435.
What are key features of this property?
This property features: 12,624‑square‑foot single‑tenant auto shop; Firestone has operated at the location for over 35 years; Double‑net (NN) lease structure
