Freestanding Building on Andrews
For Sale
$3,000,000
3636 Andrews Hwy, Odessa, TX 79762
Value-add opportunity with high traffic and flexible uses.
Property Size11,896 SF
Lot Size1.01 Acres
Price / SF$252.19
Days on Market151
Property Features for 3636 Andrews Hwy
General Information
Standard status
Active
Size
11,896 SF
Lot size
1.01 Acres
Building Details
Year Built
1970
Listing Agency:
Brix & Co. Realty
(432) 254-1688
Listed By:
Hien Tieu · License #0827004
Source:
Billlanier
Added: Mar 27
Changed: Aug 23
Last Checked: Aug 24 at 10:15AM
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 Brix & Co. Realty
Investment Insights
Based on property information with market context.
This 11,896 square foot freestanding building is situated on approximately 1.005 acres along one of Andrews Highway's busiest corridors, which sees an estimated 15,000 to 30,000 vehicles daily. The property offers easy access and is suitable for investment. Its open floor plan can accommodate a variety of uses, including retail, restaurant, and office spaces. The seller is open to various deal structures, including the purchase of the real estate and/or the existing grocery business.
Key Highlights
- High‑traffic location on Andrews Highway with 15,000‑30,000 vehicles per day.
- Value‑add opportunity with potential for increased value.
- Freestanding building with 11,896 SF on 1.005 acres.
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
$132,577
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
4.42%
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%
$2,651,540
$2.7M
Cap Rate 7%
$1,893,957
$1.9M
Cap Rate 9%
$1,473,078
$1.5M
Market Conditions
NOI Build-Up for 11,896 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
$207.0K $17.40/SF
− Vacancy
−$17.6K −$1.48/SF
EGI
$189.4K $15.92/SF
− OpEx
−$56.8K −$4.78/SF
NOI
$132.6K $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 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%
$2,651,540
Cap Rate 7%
$1,893,957
Cap Rate 9%
$1,473,078
Alternative Uses
Best Use
Retail
$1.89M
$1.66M – $2.21M
NOI $132,577 @ 7.0% cap · market cap 4.42%
Second Best
—
—
no second resolved use
Theoretical Best
Flex RnD
$17.29M
$15.13M – $20.18M
NOI $1,210,588 @ 7.0% cap · market cap 40.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
473
Businesses Nearby
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
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - Value-add opportunity with high traffic and flexible uses.
Where is this retail space located?
The property is located at 3636 Andrews Hwy Odessa, TX.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: High‑traffic location on Andrews Highway with 15,000‑30,000 vehicles per day.; Value‑add opportunity with potential for increased value.; Freestanding building with 11,896 SF on 1.005 acres.
