Flex Space with Retail
For Sale
Contact for pricing
3323 Andrews Hwy, Odessa, TX 79762
A combined showroom and warehouse layout includes office, storage, and customer-facing display windows.
Property Size33,725 SF
Lot Size1.40 Acres
Price / SF$0.70
Days on Market15
Property Features for 3323 Andrews Hwy
General Information
Standard status
Active
Size
33,725 SF
Total Parking Spaces
23
Lot size
1.40 Acres
Property subtype
Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Building Size
33,725 SF
Year Built
1978
Buildings
1
Listing Agency:
NRG Realty Group, LLC
Listed By:
Justin Dodd · License #9004023
(432) 363-4777
Source:
Gloriarealestate
Added: Oct 12
Changed: Oct 24
Last Checked: Oct 24 at 3:24PM
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 NRG Realty Group, LLC
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The 33,725-square-foot flex property sits on 1.404 acres and combines a 23,725-square-foot retail showroom with a 10,000-square-foot attached warehouse. Storefront display windows, two 10' x 10' overhead doors, four private offices, a break and storage room, and four restrooms are among the existing improvements. The building was constructed in 1978 and has 23 parking spaces.
Andrews Highway frontage carries reported traffic of 20,664 vehicles per day. Additional land next to the property is available for expanded parking, outdoor display, or future site improvements. The existing floor plan can be adapted, and renovation or repositioning is identified as an opportunity.
Andrews Highway frontage carries reported traffic of 20,664 vehicles per day. Additional land next to the property is available for expanded parking, outdoor display, or future site improvements. The existing floor plan can be adapted, and renovation or repositioning is identified as an opportunity.
Key Highlights
- 33,725 SF building on 1.404 acres
- 23,725 SF retail showroom with an attached 10,000 SF warehouse
- Andrews Highway frontage with 20,664 vehicles per day
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$375,855
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,517,100
$7.5M
Cap Rate 7%
$5,369,357
$5.4M
Cap Rate 9%
$4,176,167
$4.2M
Market Conditions
NOI Build-Up for 33,725 SF
Gross rent
$586.8K $17.40/SF
− Vacancy
−$49.9K −$1.48/SF
EGI
$536.9K $15.92/SF
− OpEx
−$161.1K −$4.78/SF
NOI
$375.9K $11.14/SF
Area
Odessa, TX
Vacancy
8.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,517,100
Cap Rate 7%
$5,369,357
Cap Rate 9%
$4,176,167
Alternative Uses
Best Use
Flex RnD
$49.03M
$42.90M – $57.20M
NOI $3,432,000 @ 7.0% cap · market cap 14,542.37%
Second Best
Warehouse
$39.67M
$34.71M – $46.28M
NOI $2,776,934 @ 7.0% cap · market cap 11,766.67%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
480
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 79762, TX
40,253
Population
17,259
Households
2.3
Avg Household Size
34
Median Age
22%
College-Educated
87%
High-School Grad
30.5 sq mi
ZIP Area
1,320
Density / Sq Mi
$74,560
Median Household Income
$45,151
Median Earnings
$1,338
Median Rent
$218,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
Similar Off Market Nearby
- Hercules Barbecue — 4200 Andrews Hwy, Odessa, TX 79762
Frequently Asked Questions
What type of property is this?
Flex space - A combined showroom and warehouse layout includes office, storage, and customer-facing display windows.
Where is this flex space located?
The property is located at 3323 Andrews Hwy Odessa, TX.
What are key features of this property?
This property features: 33,725 SF building on 1.404 acres; 23,725 SF retail showroom with an attached 10,000 SF warehouse; Andrews Highway frontage with 20,664 vehicles per day
