Upgraded Storefront with
For Sale
$235,000
2411 Kermit Hwy, Odessa, TX 79761
Commercial Sale, Odessa, TX
Property Size1,500 SF
Lot Size0.08 Acres
Price / SF$156.67
Days on Market96
Property Features for 2411 Kermit Hwy
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
Highland Park
Standard status
Active
Size
1,500 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Description
HIGHLAND PARK, BLOCK 11, LOT 6
Tax Annual Amount
2109
Legal Description
HIGHLAND PARK, BLOCK 11, LOT 6
Amenities
fully equipped kitchen
zero-scape backyard
rear parking
ample storage space
Building Details
Year built
1953
Listing Agency:
Dalton Wade, Inc.
(888) 668-8283
Listed By:
Julianne White
(432) 269-5926
Added: Jun 5
Changed: Sep 7
Last Checked: Sep 8 at 4:06AM
MLS# 50095756
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.
This 1,500-square-foot storefront property was built in 1953 and has been upgraded for current commercial use. The building includes a fully equipped kitchen, ample storage, rear parking, and a low-maintenance zero-scape backyard. Its flexible layout supports a range of storefront-oriented business configurations without requiring substantial site upkeep.
The property is directly across from Odessa College, placing it alongside an established college setting. The combination of an equipped kitchen, parking, storage, and updated improvements provides a practical base for an owner-user or commercial operator seeking a compact retail building.
The property is directly across from Odessa College, placing it alongside an established college setting. The combination of an equipped kitchen, parking, storage, and updated improvements provides a practical base for an owner-user or commercial operator seeking a compact retail building.
Key Highlights
- 1,500‑square‑foot storefront property
- Directly across from Odessa College
- Upgraded commercial building originally built in 1953
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
$16,717
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
7.11%
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%
$334,340
$334.3K
Cap Rate 7%
$238,814
$238.8K
Cap Rate 9%
$185,744
$185.7K
Market Conditions
NOI Build-Up for 1,500 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
$26.1K $17.40/SF
− Vacancy
−$2.2K −$1.48/SF
EGI
$23.9K $15.92/SF
− OpEx
−$7.2K −$4.78/SF
NOI
$16.7K $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%
$334,340
Cap Rate 7%
$238,814
Cap Rate 9%
$185,744
Alternative Uses
Best Use
Retail
$238.8K
$209.0K – $278.6K
NOI $16,717 @ 7.0% cap · market cap 7.11%
Second Best
—
—
no second resolved use
Theoretical Best
Flex RnD
$2.18M
$1.91M – $2.54M
NOI $152,646 @ 7.0% cap · market cap 64.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
630
Businesses Nearby
Balanced
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
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Frequently Asked Questions
What type of property is this?
Storefront property - Versatile commercial building across from Odessa College with rear parking, storage, and an equipped kitchen.
Where is this storefront property located?
The property is located at 2411 Kermit Hwy Odessa, TX.
What is the asking price?
The asking price for this property is $235,000.
What are key features of this property?
This property features: 1,500‑square‑foot storefront property; Directly across from Odessa College; Upgraded commercial building originally built in 1953
