Flower Shop Storefront
For Sale
$650,000
2618 Kermit Hwy, Odessa, TX 79763
Commercial Sale, Odessa, TX
Property Size4,500 SF
Lot Size0.14 Acres
Price / SF$144.44
Days on Market165
Property Features for 2618 Kermit Hwy
General Information
Property type
Residential
Property subtype
Retail
Fencing
Fenced, Chain Link
Accessibility
Accessible Approach with Ramp
Subdivision
Buchanan
Standard status
Active
APN
04800.00070.00000
Size
4,500 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Annual Amount
2255
Building Details
Year built
1960
Building materials
Brick, Block, Wood Studs
Roof type
Flat
Listing Agency:
Beyond Realty, LLC
(432) 272-0297
Listed By:
Cynthia Duarte · License #0766418
(432) 653-7339
Added: Mar 13
Changed: Aug 20
Last Checked: Aug 24 at 3:06AM
MLS# 173120
Copyright © 2026 Odessa 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 4500-square-foot storefront at 2618 Kermit Hwy includes the commercial real estate and the floral business operating from the property. The sale also includes current inventory and wholesale vendor lists, providing an established operating platform within the building.
Constructed in 1960, the property uses brick, block, and wood-stud construction beneath a flat roof. The site is fenced with chain-link fencing and includes an accessible approach with a ramp. The property is located in Odessa, Texas, within Ector County.
Constructed in 1960, the property uses brick, block, and wood-stud construction beneath a flat roof. The site is fenced with chain-link fencing and includes an accessible approach with a ramp. The property is located in Odessa, Texas, within Ector County.
Key Highlights
- 4500 square feet of commercial storefront space
- Floral business included with the real estate
- Current inventory and wholesale vendor lists included
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
$50,151
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
7.72%
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%
$1,003,020
$1.0M
Cap Rate 7%
$716,443
$716.4K
Cap Rate 9%
$557,233
$557.2K
Market Conditions
NOI Build-Up for 4,500 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
$78.3K $17.40/SF
− Vacancy
−$6.7K −$1.48/SF
EGI
$71.6K $15.92/SF
− OpEx
−$21.5K −$4.78/SF
NOI
$50.2K $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%
$1,003,020
Cap Rate 7%
$716,443
Cap Rate 9%
$557,233
Alternative Uses
Best Use
Retail
$716.4K
$626.9K – $835.9K
NOI $50,151 @ 7.0% cap · market cap 7.72%
Second Best
—
—
no second resolved use
Theoretical Best
Flex RnD
$6.54M
$5.72M – $7.63M
NOI $457,939 @ 7.0% cap · market cap 70.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
681
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 79763, TX
39,767
Population
15,063
Households
2.6
Avg Household Size
33
Median Age
9%
College-Educated
70%
High-School Grad
50.4 sq mi
ZIP Area
789
Density / Sq Mi
$57,618
Median Household Income
$45,267
Median Earnings
$1,097
Median Rent
$127,300
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 - A storefront with ramp access, fenced grounds, and an operating floral business.
Where is this storefront property located?
The property is located at 2618 Kermit Hwy Odessa, TX.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 4500 square feet of commercial storefront space; Floral business included with the real estate; Current inventory and wholesale vendor lists included
