Building Details

Building Size 17,500 SF

Year Built 1979

Construction metal

Listing Agency: TROWER REALTORS r***@trowerrealtors.com Show Phone

Listed By: Keith Trower · License #0700890 Show Phone

Source: Gloriarealestate

Added: May 28 Changed: Oct 25 Last Checked: Oct 24 at 2:58PM

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

Metal construction defines this flex property, with approximately 8,750 square feet of shop space and 1,750 square feet of office space. The facility includes a 2-ton overhead bridge crane, three 10-foot-by-10-foot dock-height doors, two 14-foot-by-12-foot bay doors, and a wash pad. The site encompasses approximately 1.5 acres with stabilized ground and perimeter fencing.

The property is near I-20 and 1788, providing routes for travel across the Permian Basin. Built in 1979, the building combines shop, office, loading, and wash-pad features on one site.

Key Highlights

• 8,750 square feet of shop space and 1,750 square feet of office space
• 2‑ton overhead bridge crane
• Three 10' x 10' dock‑height doors and two 14' x 12' bay doors

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$1,038,555

Suggested Prices Based on Cap Rates

Cap Rate 5%

$20,771,100 $20.8M

Cap Rate 7%

$14,836,500 $14.8M

Cap Rate 9%

$11,539,500 $11.5M

What to ask about pricing

Market Conditions

NOI Build-Up for 17,500 SF

Gross rent

$1.58M $90.00/SF

− Vacancy

−$91.4K −$5.22/SF

EGI

$1.48M $84.78/SF

− OpEx

−$445.1K −$25.43/SF

NOI

$1.04M $59.35/SF

Area

Odessa, TX

Vacancy

5.80%

Lease Rate

$90.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$20,771,100

Cap Rate 7%

$14,836,500

Cap Rate 9%

$11,539,500

Alternative Uses

Best Use

Flex RnD

$25.44M

$22.26M – $29.68M (±1% cap)

NOI $1,780,875 @ 7.0% cap · market cap 14,247.00%

Second Best

Industrial

$14.84M

$12.98M – $17.31M (±1% cap)

NOI $1,038,555 @ 7.0% cap · market cap 8,308.44%

Theoretical Best

—

—

same as Best Use

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Contact the owner directly Get the owner's phone numbers and email

Open Analytics

Current Use

Weatherford Cementation Construction Company

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Kitchen & Bath Showroom Auto Parts Store Storage Facility Restaurant Real Estate Agency

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

241

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 79765, TX

21,163

Population

9,709

Households

2.2

Avg Household Size

31

Median Age

26%

College-Educated

91%

High-School Grad

23.4 sq mi

ZIP Area

904

Density / Sq Mi

$100,844

Median Household Income

$53,204

Median Earnings

$1,535

Median Rent

$299,800

Median Home Value

Market

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - Fenced, stabilized grounds pair workshop and office areas with multiple loading doors and a wash pad.

Where is this flex space located?

The property is located at 3935 S County Rd 1292 Odessa, TX.

What are key features of this property?

This property features: 8,750 square feet of shop space and 1,750 square feet of office space; 2‑ton overhead bridge crane; Three 10' x 10' dock‑height doors and two 14' x 12' bay doors