Mixed-Use Office and Warehouse
For Sale
$1,500,000
300 S Grant Dr, Odessa, TX 79761
Commercial Sale, Odessa, TX
Property Size4,261 SF
Lot Size3.37 Acres
Price / SF$352.03
Days on Market49
Property Features for 300 S Grant Dr
General Information
Property type
Commercial Sale
Property subtype
Office
Parking
30
Fencing
Fenced, Gate, Chain Link
Accessibility
Accessible Approach with Ramp
Subdivision
Cannondale
Lot features
Security, Corner Lot
Standard status
Active
APN
05200.01160.00000
Size
4,261 SF
Lot size
3.37 Acres
Additional Details
Property Use
Office, Warehouse
Taxes and HOA fees
Tax Annual Amount
5000
Building Details
Year built
1950
Floors in Building
1
Building materials
Concrete, Block, Metal Siding
Roof type
Flat, Metal
Listing Agency:
Keller Williams Realty - Midland & Odessa
(432) 520-5151
Listed By:
Priscilla Contreras · License #0659046
(432) 290-0569
Added: Sep 11
Changed: Oct 26
Last Checked: Oct 29 at 5:06PM
MLS# 177497
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.
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Investment Insights
Based on property information with market context.
This mixed-use commercial property combines office, warehouse, and shop capacity within a 4,261-square-foot building on 3.37 acres. The office component includes seven private offices, a conference room, an open bullpen area, and three restrooms, creating a practical administrative layout. Additional parking supports the site’s office and operational uses.
Built in 1950, the improvements feature concrete, block, and metal siding construction beneath a metal and flat roof system. The property is enclosed with chain-link fencing and a gate, and an accessible approach with ramp is provided. Located at 300 S Grant Dr in Odessa, Texas, the site offers a combination of office accommodation and service-oriented commercial space.
Built in 1950, the improvements feature concrete, block, and metal siding construction beneath a metal and flat roof system. The property is enclosed with chain-link fencing and a gate, and an accessible approach with ramp is provided. Located at 300 S Grant Dr in Odessa, Texas, the site offers a combination of office accommodation and service-oriented commercial space.
Key Highlights
- 3.37‑acre mixed‑use commercial property
- 4,261‑square‑foot building with office, warehouse, and shop capacity
- Office layout includes 7 private offices, conference room, bullpen, and 3 restrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$56,709
Cap Rate
3.78%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,134,180
$1.1M
Cap Rate 7%
$810,129
$810.1K
Cap Rate 9%
$630,100
$630.1K
Market Conditions
NOI Build-Up for 4,261 SF
Gross rent
$89.5K $21.00/SF
− Vacancy
−$13.9K −$3.26/SF
EGI
$75.6K $17.75/SF
− OpEx
−$18.9K −$4.44/SF
NOI
$56.7K $13.31/SF
Area
Odessa, TX
Vacancy
15.50%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,134,180
Cap Rate 7%
$810,129
Cap Rate 9%
$630,100
Alternative Uses
Best Use
Warehouse
$5.01M
$4.39M – $5.85M
NOI $350,853 @ 7.0% cap · market cap 23.39%
Second Best
Office B
$810.1K
$708.9K – $945.2K
NOI $56,709 @ 7.0% cap · market cap 3.78%
Theoretical Best
Flex RnD
$6.19M
$5.42M – $7.23M
NOI $433,618 @ 7.0% cap · market cap 28.91%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
2,017
Businesses Nearby
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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
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Office, warehouse, and shop functions are arranged on a fenced commercial property with additional parking.
Where is this mixed-use property located?
The property is located at 300 S Grant Dr Odessa, TX.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 3.37‑acre mixed‑use commercial property; 4,261‑square‑foot building with office, warehouse, and shop capacity; Office layout includes 7 private offices, conference room, bullpen, and 3 restrooms
