Walgreens Drug
For Sale
Contact for pricing
2161 E 42nd St, Odessa, TX 79762
Retail property constructed in 2001 with an established drug-store format.
Property Size15,120 SF
Price / SF$289.45
Days on Market147
Property Features for 2161 E 42nd St
General Information
Standard status
Active
Size
15,120 SF
Property subtype
Retail
Occupancy
100%
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$372,000
Additional Details
Cap Rate
8.5%
Building Details
Year Built
2001
Tenancy
Single
Listing Agency:
Stream Capital Partners
(312) 899-6664
Listed By:
Jordan Koeppel · License #NY 10401317069
Source:
Crexi
Added: Apr 6
Changed: Aug 30
Last Checked: Aug 30 at 1:43PM
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 Stream Capital Partners
Investment Insights
Based on property information with market context.
The property is a Walgreens drug store offering 15,120 square feet of retail space. Constructed in 2001, the building is positioned at 2161 E 42nd St in Odessa, Texas.
The offering reflects an 8.50% CAP rate and is presented for sale. Its retail configuration and established drug-store identity provide a clear physical profile for commercial review.
The offering reflects an 8.50% CAP rate and is presented for sale. Its retail configuration and established drug-store identity provide a clear physical profile for commercial review.
Key Highlights
- 15,120 SqFt retail property
- Walgreens drug‑store format
- Constructed in 2001
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
$202,487
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
4.63%
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%
$4,049,740
$4.0M
Cap Rate 7%
$2,892,671
$2.9M
Cap Rate 9%
$2,249,856
$2.2M
Market Conditions
NOI Build-Up for 15,120 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
$290.3K $19.20/SF
− Vacancy
−$20.3K −$1.34/SF
EGI
$270.0K $17.86/SF
− OpEx
−$67.5K −$4.46/SF
NOI
$202.5K $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 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%
$4,049,740
Cap Rate 7%
$2,892,671
Cap Rate 9%
$2,249,856
Alternative Uses
Best Use
Specialty Retail
$2.89M
$2.53M – $3.37M
NOI $202,487 @ 7.0% cap · market cap 4.63%
Second Best
Retail
$2.41M
$2.11M – $2.81M
NOI $168,508 @ 7.0% cap · market cap 3.85%
Theoretical Best
Flex RnD
$21.98M
$19.23M – $25.64M
NOI $1,538,676 @ 7.0% cap · market cap 35.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
341
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 79762, TX
40,253
Population
17,259
Households
2.3
Avg Household Size
34
Median Age
22%
College-Educated
87%
High-School Grad
30.5 sq mi
ZIP Area
1,320
Density / Sq Mi
$74,560
Median Household Income
$45,151
Median Earnings
$1,338
Median Rent
$218,900
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.
Frequently Asked Questions
What type of property is this?
Drug store - Retail property constructed in 2001 with an established drug-store format.
Where is this drug store located?
The property is located at 2161 E 42nd St Odessa, TX.
What is the asking price?
The asking price for this property is $4,376,471.
What are key features of this property?
This property features: 15,120 SqFt retail property; Walgreens drug‑store format; Constructed in 2001
