Office Units with Custom
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4001 Penbrook #318, Odessa, TX 79762
Flexible configurations include individual offices, multi-office arrangements, and tailored suite plans.
Property Size112 SF
Price / SF$3.57
Days on Market85
Property Features for 4001 Penbrook #318
General Information
Standard status
Active
Size
112 SF
Property subtype
Commercial
Building Details
Building Size
112 SF
Year Built
1977
Listing Agency:
D.E. The Home Boss Group LLC
Listed By:
Donavon Earl · License #809777
(432) 230-3432
Source:
Gloriarealestate
Added: Aug 11
Changed: Oct 25
Last Checked: Oct 29 at 10:54PM
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 D.E. The Home Boss Group LLC
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Investment Insights
Based on property information with market context.
This office property offers individual offices, multi-office configurations, and custom suite build-outs. A full remodel is underway, with updated shared areas planned as part of the work. The building dates to 1977 and is located at 4001 Penbrook in Odessa.
Key Highlights
- Options range from individual offices to multi‑office configurations
- Custom suite build‑outs are available
- Full building remodel underway
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$1,491
Suggested Prices Based on Cap Rates
Cap Rate 5%
$29,820
$29.8K
Cap Rate 7%
$21,300
$21.3K
Cap Rate 9%
$16,567
$16.6K
Market Conditions
NOI Build-Up for 112 SF
Gross rent
$2.4K $21.00/SF
− Vacancy
−$365 −$3.26/SF
EGI
$2.0K $17.75/SF
− OpEx
−$497 −$4.44/SF
NOI
$1.5K $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%
$29,820
Cap Rate 7%
$21,300
Cap Rate 9%
$16,567
Alternative Uses
Best Use
Office B
$21.3K
$18.6K – $24.9K
NOI $1,491 @ 7.0% cap · market cap 372.75%
Second Best
—
—
no second resolved use
Theoretical Best
Flex RnD
$162.8K
$142.5K – $190.0K
NOI $11,398 @ 7.0% cap · market cap 2,849.50%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,186
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - Flexible configurations include individual offices, multi-office arrangements, and tailored suite plans.
Where is this office unit located?
The property is located at 4001 Penbrook #318 Odessa, TX.
What are key features of this property?
This property features: Options range from individual offices to multi‑office configurations; Custom suite build‑outs are available; Full building remodel underway
