Move-in Ready Office and Flex
2651 John Ben Shepperd Parkway Odessa, TX 79761
New
2651 John Ben Shepperd Parkway, Odessa, TX, 79761
$675,000
For Sale
$675,000
SINGLE_FAMILY - Odessa, TX
Property Size3,974 SF
Price / SF$169.85
Days on Market3
Property Features for 2651 John Ben Shepperd Parkway
General Information
- Property type
- Residential
- Property subtype
- Retail
- Standard status
- Active
- Size
- 3,974 SF
Taxes and HOA fees
- Tax Description
- Legal: BUILDING ON LEASED LAND WEDGEWOOD BLOCK 13 W 1.94 ACRES OUT OF LOT 47 UNIT A1
- Tax Annual Amount
- 6042
Building Details
- Year built
- 1979
Listing Agency
The Real Estate Ranch LLC
(432) 688-8200
6 Desta Drive Suite 1260, Midland, TX
Listed by
YPR Group
(432) 688-8200
Added: Jul 16 Checked: Jul 18 at 7:06 am
MLS# 50096790
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.
Move-in ready commercial space configured with seven offices and two multi-stall restrooms. The layout can accommodate improvements, and the building can be split into two suites to support multiple uses or tenants.
Located across from the University of Texas Permian Basin, the property’s position can be beneficial for office, retail, medical, restaurant, or flex applications as described in the listing.
The current configuration provides distinct office space and shared restroom facilities, with flexibility for subdivision into two separate suites.
Located across from the University of Texas Permian Basin, the property’s position can be beneficial for office, retail, medical, restaurant, or flex applications as described in the listing.
The current configuration provides distinct office space and shared restroom facilities, with flexibility for subdivision into two separate suites.
Key Highlights
- 1979‑built commercial space across from the University of Texas Permian Basin
- Move‑in ready for office, retail, medical, restaurant, or flex use
- Includes 7 offices and 2 multi‑stall restrooms
Local Financial Insights For Healthcare Medical
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $97.8k | $24.60 |
| − Vacancy | −$7.8k | −$1.97 |
| EGI | $89.9k | $22.63 |
| − OpEx | −$36.0k | −$9.05 |
| NOI | $54.0k | $13.58 |
3,974 SF · lease $24.60/SF/yr · vacancy 8.00% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$770.9K
$674.6K – $899.4K
NOI $53,964 @ 7.0% cap · market cap 7.99%
Second Best
Office B
$755.6K
$661.1K – $881.5K
NOI $52,889 @ 7.0% cap · market cap 7.84%
Theoretical Best
Flex RnD
$5.78M
$5.06M – $6.74M
NOI $404,411 @ 7.0% cap · market cap 59.91%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Kast Medical Supply
Physician
Odessa Spine & Sport ...
Physician
Insurance Agency
Insurance Agency
Laura Edge - State ...
Insurance Agency
Brown Wyly
Auto Repair Shop
Similar For Sale Nearby
Similar Off Market Nearby
- University Small Animal Clinic — 2801 John Ben Shepperd Pkwy, Odessa, TX 79762
- Shaw Amanda DVM — 2801 John Ben Shepperd Pkwy, Odessa, TX 79762
FAQs
What type of property is this?
Medical Office Space - Move-in ready suite with seven offices and two multi-stall restrooms, and can be split into two suites.
Where is this medical office space located?
The property is located at 2651 John Ben Shepperd Parkway Odessa, TX.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: 1979‑built commercial space across from the University of Texas Permian Basin; Move‑in ready for office, retail, medical, restaurant, or flex use; Includes 7 offices and 2 multi‑stall restrooms
