Corner Retail and Office
For Sale
Contact for pricing
2651 John Ben Shepperd, Odessa, TX 79761
Versatile corner space with seven private offices, updated lobby, and two multi-stall restrooms across from UT Permian Basin.
Property Size4,102 SF
Price / SF$164.55
Days on Market51
Property Features for 2651 John Ben Shepperd
General Information
Standard status
Active
Size
4,102 SF
Property subtype
Retail, Office
Additional Details
Office Units
7
Building Details
Year Built
1979
Listing Agency:
Your Premier Real Estate Group At Real Estate Ranch
Listed By:
Kanji Adams · License #502185
Source:
Crexi
Added: Jun 15
Changed: Jul 10
Last Checked: Aug 4 at 3:31AM
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 Your Premier Real Estate Group At Real Estate Ranch
Investment Insights
Based on property information with market context.
This 4,102-square-foot corner-suite property offers a flexible interior layout suited to multiple commercial uses. The space includes seven private offices, an updated lobby area, and two restrooms with multiple stalls. Built in 1979 and described as move-in ready, the configuration supports tenant or owner improvements and can be adapted for businesses needing dedicated private work areas.
The property is positioned on a highly visible commercial corridor in Odessa, directly across from The University of Texas Permian Basin. Its corner placement supports strong accessibility, with a layout designed to take advantage of the street-facing presence. The flexible floor plan is described as allowing the space to be divided into two separate suites.
For owner-users, the existing private office arrangement and updated lobby can help streamline initial occupancy while still leaving room for customization. For investors or multi-tenant concepts, the ability to divide the suite into two spaces may support more than one operating layout, including office, retail, medical, or restaurant-style uses, subject to applicable approvals.
The property is positioned on a highly visible commercial corridor in Odessa, directly across from The University of Texas Permian Basin. Its corner placement supports strong accessibility, with a layout designed to take advantage of the street-facing presence. The flexible floor plan is described as allowing the space to be divided into two separate suites.
For owner-users, the existing private office arrangement and updated lobby can help streamline initial occupancy while still leaving room for customization. For investors or multi-tenant concepts, the ability to divide the suite into two spaces may support more than one operating layout, including office, retail, medical, or restaurant-style uses, subject to applicable approvals.
Key Highlights
- 4,102 SF versatile corner commercial property built in 1979 directly across from The University of Texas Permian Basin
- Corner‑suite layout with visibility and accessibility for a wide range of business uses (office, retail, medical, restaurant, or other commercial)
- Includes seven private offices plus an updated lobby area
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 | $100.9k | $24.60 |
| − Vacancy | −$8.1k | −$1.97 |
| EGI | $92.8k | $22.63 |
| − OpEx | −$37.1k | −$9.05 |
| NOI | $55.7k | $13.58 |
4,102 SF · lease $24.60/SF/yr · vacancy 8.00% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$795.7K
$696.3K – $928.4K
NOI $55,702 @ 7.0% cap · market cap 8.25%
Second Best
Office B
$779.9K
$682.4K – $909.9K
NOI $54,592 @ 7.0% cap · market cap 8.09%
Theoretical Best
Flex RnD
$5.96M
$5.22M – $6.96M
NOI $417,437 @ 7.0% cap · market cap 61.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
7
Office units
Location Intelligence
Trade Area within ½ mile
604
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Versatile corner space with seven private offices, updated lobby, and two multi-stall restrooms across from UT Permian Basin.
Where is this office units located?
The property is located at 2651 John Ben Shepperd 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: 4,102 SF versatile corner commercial property built in 1979 directly across from The University of Texas Permian Basin; Corner‑suite layout with visibility and accessibility for a wide range of business uses (office, retail, medical, restaurant, or other commercial); Includes seven private offices plus an updated lobby area
