New Construction Flex
For Sale
$1,250,000
501 Sterling Park Rd, Odessa, TX 79762
Commercial Sale, Odessa, TX
Property Size8,000 SF
Lot Size2.48 Acres
Price / SF$156.25
Days on Market147
Property Features for 501 Sterling Park Rd
General Information
Property type
Residential
Property subtype
Office
Property condition
Under Construction
Fencing
Gate
Subdivision
Sterling Park 2nd Filing
Standard status
Active
APN
29985.00610.00000
Size
8,000 SF
Lot size
2.48 Acres
Taxes and HOA fees
Tax Annual Amount
1207
Utilities
Sewer type
Private Sewer
Water source
Well
Building Details
Year built
2025
Building materials
Metal Construction
Roof type
Metal
Listing Agency:
All City Real Estate Ltd. Co.
(866) 277-6005
Listed By:
Jessica Meraz · License #631928
(432) 349-8182
Added: Mar 31
Changed: Aug 20
Last Checked: Aug 24 at 9:06AM
MLS# 173510
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.
Under-construction flex space on 2.483 acres at 501 Sterling Park Rd in Odessa, Texas. The 8,000-square-foot property combines a 6,000-square-foot shop with a 2,000-square-foot office component, all within a metal building secured by electric gates on both sides.
The shop includes three electric pull-through bays and a full bathroom with shower. The office layout provides six offices, separate men’s and women’s bathrooms, a breakroom and kitchen, and a conference room. The property uses a private well and private sewer, with completion identified for 2025.
The shop includes three electric pull-through bays and a full bathroom with shower. The office layout provides six offices, separate men’s and women’s bathrooms, a breakroom and kitchen, and a conference room. The property uses a private well and private sewer, with completion identified for 2025.
Key Highlights
- 8,000 SF flex property on 2.483 acres
- 6,000 SF shop with 3 electric pull‑through bays
- 2,000 SF office area with 6 offices
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
$106,470
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
8.52%
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%
$2,129,400
$2.1M
Cap Rate 7%
$1,521,000
$1.5M
Cap Rate 9%
$1,183,000
$1.2M
Market Conditions
NOI Build-Up for 8,000 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
$168.0K $21.00/SF
− Vacancy
−$26.0K −$3.26/SF
EGI
$142.0K $17.75/SF
− OpEx
−$35.5K −$4.44/SF
NOI
$106.5K $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 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%
$2,129,400
Cap Rate 7%
$1,521,000
Cap Rate 9%
$1,183,000
Alternative Uses
Best Use
Flex RnD
$11.63M
$10.18M – $13.57M
NOI $814,114 @ 7.0% cap · market cap 65.13%
Second Best
Warehouse
$9.41M
$8.23M – $10.98M
NOI $658,724 @ 7.0% cap · market cap 52.70%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Service bays
6
Office units
Location Intelligence
Trade Area within ½ mile
73
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 Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Metal construction combines a service shop with dedicated offices and practical employee support areas.
Where is this flex space located?
The property is located at 501 Sterling Park Rd Odessa, TX.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 8,000 SF flex property on 2.483 acres; 6,000 SF shop with 3 electric pull‑through bays; 2,000 SF office area with 6 offices
