Office Property with
New
For Sale
$320,000
411 Saraway Road, Odessa, TX 79766
Commercial Sale, Odessa, TX
Property Size1,152 SF
Lot Size2.43 Acres
Price / SF$277.78
Days on Market5
Property Features for 411 Saraway Road
General Information
Property type
Commercial Sale
Property subtype
Office
Subdivision
Sterling Park 2nd Filing
Lot features
Corner Lot
Standard status
Active
APN
29985.00990.00000
Size
1,152 SF
Lot size
2.43 Acres
Taxes and HOA fees
Tax Annual Amount
2278
Utilities
Sewer type
Private Sewer
Water source
Well
Amenities
mobile home
yard for parking
Building Details
Year built
2012
Listing Agency:
Century 21 The Edge
(432) 617-3053
Listed By:
Sarah Ivey · License #0408989
(432) 238-8392
Added: Oct 9
Last Checked: Oct 13 at 9:06PM
MLS# 159717
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.
Investment Insights
Based on property information with market context.
Set on 2.43 acres, this office property includes two mobile homes with potential office use and a yard suited to truck parking. The property contains 1,152 square feet and was built in 2012.
Water is supplied by a well, and the site has a private sewer system. The remarks also identify build-to-suit as a possible approach for the property.
Water is supplied by a well, and the site has a private sewer system. The remarks also identify build-to-suit as a possible approach for the property.
Key Highlights
- 2.43‑acre site with two mobile homes
- 1,152 square feet of property
- Yard area can be used for truck parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,332
Cap Rate
4.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$306,640
$306.6K
Cap Rate 7%
$219,029
$219.0K
Cap Rate 9%
$170,356
$170.4K
Market Conditions
NOI Build-Up for 1,152 SF
Gross rent
$24.2K $21.00/SF
− Vacancy
−$3.7K −$3.26/SF
EGI
$20.4K $17.75/SF
− OpEx
−$5.1K −$4.44/SF
NOI
$15.3K $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%
$306,640
Cap Rate 7%
$219,029
Cap Rate 9%
$170,356
Alternative Uses
Best Use
Office B
$219.0K
$191.7K – $255.5K
NOI $15,332 @ 7.0% cap · market cap 4.79%
Second Best
—
—
no second resolved use
Theoretical Best
Flex RnD
$1.67M
$1.47M – $1.95M
NOI $117,232 @ 7.0% cap · market cap 36.64%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
60
Businesses Nearby
Explore this area
Business Placement
Demographics for 79766, TX
9,688
Population
3,516
Households
2.8
Avg Household Size
33
Median Age
10%
College-Educated
58%
High-School Grad
305.0 sq mi
ZIP Area
32
Density / Sq Mi
$70,965
Median Household Income
$41,913
Median Earnings
$1,100
Median Rent
$151,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - Two mobile homes offer potential office use, with outdoor space available for truck parking.
Where is this office building located?
The property is located at 411 Saraway Road Odessa, TX.
What is the asking price?
The asking price for this property is $320,000.
What are key features of this property?
This property features: 2.43‑acre site with two mobile homes; 1,152 square feet of property; Yard area can be used for truck parking
