Odessa Retail Property For
For Sale
Contact for pricing
2751 North County Road West, Odessa, TX 79764
Retail property on a hard corner at a signalized intersection.
Property Size61,955 SF
Price / SF$208.48
Days on Market88
Property Features for 2751 North County Road West
General Information
Standard status
Active
Size
61,955 SF
Total Parking Spaces
314
Property subtype
Retail
Occupancy
100%
Lease Type
Absolute NNN
Investment Type
Net Lease
Net Operating Income
$968,742
Building Details
Year Built
1985
Tenancy
Single
Listing Agency:
CBRE Atlanta
(404) 504-7893
Listed By:
Thomas Carr · License #374849
Source:
Crexi
Added: May 14
Changed: Aug 8
Last Checked: Aug 8 at 3:44PM
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 CBRE Atlanta
Investment Insights
Based on property information with market context.
The property is positioned on a hard corner at the signalized intersection of North County Road West and West University Boulevard, a mile east of TX-302. The location is proximate to Planet Fitness, Advance Auto Parts, Dollar General, Walgreens, McDonald's, Dickey's Barbecue Pit, McAlister's Deli, Jack in the Box, and Firestone Complete Auto Care. The surrounding area within a 5-mile radius contains 7.5 MSF of retail, 2.7 MSF of office, 12.2 MSF of industrial, 8,700+ multifamily units, and 2,940 hotel rooms. Major retailers in the vicinity include Walmart Supercenter, H-E-B, Harbor Freight, Boot Barn, Ollie's Bargain Outlet, O'Reilly Auto Parts, CVS, Dollar Tree, Chick-fil-A, and Whataburger, among others. The property size is 61955 square feet. Traffic counts are 16,300 VPD on North County Road West and 27,540 VPD on West University Boulevard; TX-302 has 25,250 VPD.
Key Highlights
- High‑traffic location at the signalized intersection of North County Road West (16,300 VPD) and West University Boulevard (27,540 VPD).
- Proximate to a variety of national retailers and service providers including Planet Fitness, Walgreens, and McDonald's.
- Surrounded by significant commercial and residential density: 7.5 MSF of retail, 2.7 MSF of office, 12.2 MSF of industrial, and 8,700+ multifamily units within a 5‑mile radius.
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
$829,701
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
6.42%
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%
$16,594,020
$16.6M
Cap Rate 7%
$11,852,871
$11.9M
Cap Rate 9%
$9,218,900
$9.2M
Market Conditions
NOI Build-Up for 61,955 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
$1.19M $19.20/SF
− Vacancy
−$83.3K −$1.34/SF
EGI
$1.11M $17.86/SF
− OpEx
−$276.6K −$4.46/SF
NOI
$829.7K $13.39/SF
Area
Odessa, TX
Vacancy
7.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
25.00%
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%
$16,594,020
Cap Rate 7%
$11,852,871
Cap Rate 9%
$9,218,900
Alternative Uses
Best Use
Specialty Retail
$11.85M
$10.37M – $13.83M
NOI $829,701 @ 7.0% cap · market cap 6.42%
Second Best
Retail
$9.86M
$8.63M – $11.51M
NOI $690,470 @ 7.0% cap · market cap 5.35%
Theoretical Best
Flex RnD
$90.07M
$78.81M – $105.08M
NOI $6,304,805 @ 7.0% cap · market cap 48.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
491
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 79764, TX
26,271
Population
10,326
Households
2.5
Avg Household Size
33
Median Age
20%
College-Educated
74%
High-School Grad
54.5 sq mi
ZIP Area
482
Density / Sq Mi
$68,367
Median Household Income
$52,054
Median Earnings
$944
Median Rent
$150,400
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Mi Tierra Meat Market — 500 W University Blvd, Odessa, TX 79764
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Retail property on a hard corner at a signalized intersection.
Where is this grocery and convenience store located?
The property is located at 2751 North County Road West Odessa, TX.
What is the asking price?
The asking price for this property is $12,916,600.
What are key features of this property?
This property features: High‑traffic location at the signalized intersection of North County Road West (16,300 VPD) and West University Boulevard (27,540 VPD).; Proximate to a variety of national retailers and service providers including Planet Fitness, Walgreens, and McDonald's.; Surrounded by significant commercial and residential density: 7.5 MSF of retail, 2.7 MSF of office, 12.2 MSF of industrial, and 8,700+ multifamily units within a 5‑mile radius.
