Mixed-Use Property with Covered
New
For Sale
$225,000
2411 Kermit Hwy, Odessa, TX 79761
An open-plan layout combines office areas, a serving kitchen, and parking at both the front and rear.
Property Size1,500 SF
Price / SF$150
Days on Market5
Property Features for 2411 Kermit Hwy
General Information
Standard status
Active
Size
1,500 SF
Additional Details
Multifamily Units
1
Amenities
covered back patio
large serving kitchen
Building Details
Year Built
1953
Listing Agency:
SIMS & GUESS, REALTORS
Listed By:
Brent Sims · License #0609549
(432) 528-1154
Source:
Billlanier
Added: Oct 4
Last Checked: Oct 7 at 2:02PM
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 SIMS & GUESS, REALTORS
Investment Insights
Based on property information with market context.
This 1,500-square-foot mixed-use property was built in 1953 and has an open-plan interior with multiple offices and restrooms. A large serving kitchen supports its food-service configuration, while the covered patio extends the usable area outdoors. Parking is available at both the front and rear of the building.
The property sits directly across from Odessa College on Kermit Highway in Odessa. Its combination of office space, kitchen facilities, patio, and parking brings several distinct physical components together in one property.
The property sits directly across from Odessa College on Kermit Highway in Odessa. Its combination of office space, kitchen facilities, patio, and parking brings several distinct physical components together in one property.
Key Highlights
- Across Kermit Highway from Odessa College
- 1,500 square feet; built in 1953
- Open‑plan interior with multiple offices and restrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,088
Cap Rate
8.93%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$401,760
$401.8K
Cap Rate 7%
$286,971
$287.0K
Cap Rate 9%
$223,200
$223.2K
Market Conditions
NOI Build-Up for 1,500 SF
Gross rent
$28.8K $19.20/SF
− Vacancy
−$2.0K −$1.34/SF
EGI
$26.8K $17.86/SF
− OpEx
−$6.7K −$4.46/SF
NOI
$20.1K $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 Rate 5%
$401,760
Cap Rate 7%
$286,971
Cap Rate 9%
$223,200
Alternative Uses
Best Use
Specialty Retail
$287.0K
$251.1K – $334.8K
NOI $20,088 @ 7.0% cap · market cap 8.93%
Second Best
Mixed Use
$270.6K
$236.7K – $315.7K
NOI $18,939 @ 7.0% cap · market cap 8.42%
Theoretical Best
Flex RnD
$2.18M
$1.91M – $2.54M
NOI $152,646 @ 7.0% cap · market cap 67.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
630
Businesses Nearby
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - An open-plan layout combines office areas, a serving kitchen, and parking at both the front and rear.
Where is this mixed-use property located?
The property is located at 2411 Kermit Hwy Odessa, TX.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Across Kermit Highway from Odessa College; 1,500 square feet; built in 1953; Open‑plan interior with multiple offices and restrooms
