Splitable Flex Office
2651 John Ben Shepperd Pkwy Odessa, TX 79761
New
2651 John Ben Shepperd Pkwy, Odessa, TX, 79761
$675,000
For Sale
$675,000
SINGLE_FAMILY - Odessa, TX
Property Size3,974 SF
Price / SF$169.85
Days on Market2
Property Features for 2651 John Ben Shepperd Pkwy
General Information
- Property type
- Residential
- Property subtype
- Retail
- Appliances
- Individual AC Units, Individual Heating Units
- Standard status
- Active
- APN
- BL400.34199.00000
- Size
- 3,974 SF
Taxes and HOA fees
- Tax Annual Amount
- 6042
Building Details
- Year built
- 1979
- Floors in Building
- 1
- Building materials
- Stucco, Wood Construction
- Roof type
- Metal
Listing Agency
The Real Estate Ranch LLC
(432) 688-8200
6 Desta Drive Suite 1260, Midland, TX
Listed by
Ypr Group At The Real Estate Ranch
(432) 210-5800
Added: Jul 16 Checked: Jul 17 at 12:06 am
MLS# 176227
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.
Move-in ready flex office space at 2651 John Ben Shepperd Pkwy in Odessa, Texas, designed for a variety of commercial uses. The interior layout includes seven offices and two multi-stall restrooms, with the opportunity to add improvements. The space can also be configured to operate as two separate suites.
The property is positioned across from the University of Texas Permian Basin, providing a convenient setting for office, retail, medical, restaurant, or flex use as outlined in the remarks.
With approximately 3,974 square feet of space, this offering supports both single-tenant occupation and a split-suites approach, depending on the intended configuration.
The property is positioned across from the University of Texas Permian Basin, providing a convenient setting for office, retail, medical, restaurant, or flex use as outlined in the remarks.
With approximately 3,974 square feet of space, this offering supports both single-tenant occupation and a split-suites approach, depending on the intended configuration.
Key Highlights
- Move‑in ready commercial space across from the University of Texas Permian Basin
- 7 offices plus 2 multi‑stall restrooms
- Can be split into 2 suites
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
Flex RnD
$5.78M
$5.06M – $6.74M
NOI $404,411 @ 7.0% cap · market cap 59.91%
Second Best
Industrial
$3.37M
$2.95M – $3.93M
NOI $235,841 @ 7.0% cap · market cap 34.94%
Theoretical Best
—
—
same as Best Use
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
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FAQs
What type of property is this?
Flex space - Move-in ready flex space with seven offices, two multi-stall restrooms, and ability to split into two suites.
Where is this flex space located?
The property is located at 2651 John Ben Shepperd Pkwy 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: Move‑in ready commercial space across from the University of Texas Permian Basin; 7 offices plus 2 multi‑stall restrooms; Can be split into 2 suites
