Restaurant on
For Sale
$725,000
2830 Lorraine Rd, Odessa, TX 79766
Commercial Sale, Odessa, TX
Property Size4,500 SF
Lot Size2.04 Acres
Price / SF$161.11
Days on Market72
Property Features for 2830 Lorraine Rd
General Information
Property type
Commercial Sale
Property subtype
Other
Fencing
Fenced
Subdivision
Sterling Park 2nd Filing
Standard status
Active
APN
29985.00190.00000
Size
4,500 SF
Lot size
2.04 Acres
Taxes and HOA fees
Tax Annual Amount
526
Utilities
Sewer type
Private Sewer
Water source
Well
Building Details
Year built
2016
Building materials
Metal Construction
Roof type
Metal
Listing Agency:
Heritage Real Estate
(432) 701-0550
Listed By:
Lilliana Sotelo · License #0786206
(432) 246-6687
Added: Jul 30
Changed: Oct 8
Last Checked: Oct 9 at 3:06AM
MLS# 173873
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 4,500-square-foot restaurant was built in 2016 on a 2.04-acre parcel. The building has metal construction and a metal roof, with a large dining room and a service area arranged for restaurant use. The site is fenced and includes parking.
The property sits just off the interstate and Highway 385. Water is provided by a well, and the property uses a private sewer system.
The property sits just off the interstate and Highway 385. Water is provided by a well, and the property uses a private sewer system.
Key Highlights
- 4,500‑square‑foot restaurant on 2.04 acres
- Just off the interstate and Highway 385
- Built in 2016
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$60,264
Cap Rate
8.31%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,205,280
$1.2M
Cap Rate 7%
$860,914
$860.9K
Cap Rate 9%
$669,600
$669.6K
Market Conditions
NOI Build-Up for 4,500 SF
Gross rent
$86.4K $19.20/SF
− Vacancy
−$6.0K −$1.34/SF
EGI
$80.4K $17.86/SF
− OpEx
−$20.1K −$4.46/SF
NOI
$60.3K $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 Rate 5%
$1,205,280
Cap Rate 7%
$860,914
Cap Rate 9%
$669,600
Alternative Uses
Best Use
Specialty Retail
$860.9K
$753.3K – $1.00M
NOI $60,264 @ 7.0% cap · market cap 8.31%
Second Best
—
—
no second resolved use
Theoretical Best
Flex RnD
$6.54M
$5.72M – $7.63M
NOI $457,939 @ 7.0% cap · market cap 63.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
84
Businesses Nearby
Explore this area
Business Placement
Demographics for 79766, TX
9,688
Population
3,516
Households
2.8
Avg Household Size
33
Median Age
10%
College-Educated
58%
High-School Grad
305.0 sq mi
ZIP Area
32
Density / Sq Mi
$70,965
Median Household Income
$41,913
Median Earnings
$1,100
Median Rent
$151,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - A dedicated dining room and service area support restaurant operations.
Where is this conventional restaurant located?
The property is located at 2830 Lorraine Rd Odessa, TX.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: 4,500‑square‑foot restaurant on 2.04 acres; Just off the interstate and Highway 385; Built in 2016
