Odessa Retail Investment
For Sale
Contact for pricing
Pending
2604 E 8th St, Odessa, TX 79761
Standalone retail building leased to Enterprise Rent-A-Car on 1.04-acre lot.
Property Size1,875 SF
Lot Size1.04 Acres
Days on Market704
Property Features for 2604 E 8th St
General Information
Standard status
Pending
Size
1,875 SF
Lot size
1.04 Acres
Property subtype
Retail
Building Details
Year Built
2001
Stories
1
Listing Agency:
Moriah Real Estate Company, LLC
Listed By:
Wes Gotcher · License #TX
(432) 682-2510
Source:
Crexi
Added: Oct 11, 2024
Changed: Aug 8
Last Checked: Sep 13 at 6:25AM
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 Moriah Real Estate Company, LLC
Investment Insights
Based on property information with market context.
This 1,875-square-foot standalone retail building is located in Odessa, TX, and presents an investment opportunity. The property is situated on a 1.04-acre lot and is currently leased to Enterprise Rent-A-Car. The location is along 8th Street, near its intersection with Highway 80, and is surrounded by similar-sized commercial developments. The property features 270 feet of frontage on 8th Street, providing visibility.
Key Highlights
- Leased to Enterprise Rent‑A‑Car providing immediate income
- Prime location on 8th Street near Highway 80 intersection
- Large 1.04‑acre lot offers long‑term value
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
$20,896
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
4.40%
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%
$417,920
$417.9K
Cap Rate 7%
$298,514
$298.5K
Cap Rate 9%
$232,178
$232.2K
Market Conditions
NOI Build-Up for 1,875 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
$32.6K $17.40/SF
− Vacancy
−$2.8K −$1.48/SF
EGI
$29.9K $15.92/SF
− OpEx
−$9.0K −$4.78/SF
NOI
$20.9K $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%
$417,920
Cap Rate 7%
$298,514
Cap Rate 9%
$232,178
Alternative Uses
Best Use
Retail
$298.5K
$261.2K – $348.3K
NOI $20,896 @ 7.0% cap · market cap 4.40%
Second Best
—
—
no second resolved use
Theoretical Best
Flex RnD
$2.73M
$2.39M – $3.18M
NOI $190,808 @ 7.0% cap · market cap 40.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
542
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
Check the figures for this property
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?
Retail space - Standalone retail building leased to Enterprise Rent-A-Car on 1.04-acre lot.
Where is this retail space located?
The property is located at 2604 E 8th St Odessa, TX.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Leased to Enterprise Rent‑A‑Car providing immediate income; Prime location on 8th Street near Highway 80 intersection; Large 1.04‑acre lot offers long‑term value
