Bar, Store, and Residence
5011 E Hammett Dr, Odessa, TX 79766
For Sale
$899,900
Turnkey bar, store, and residence with high traffic location.
Property Size5,400 SF
Price / SF$166.65
Days on Market229
Property Features for 5011 E Hammett Dr
General Information
Standard status
Size
Building Details
Year Built
Listing Agency:
Pine & Beckett - Chris Beckett
Listed By:
Chris Beckett Broker Owner CRS GRI ASR e-Pro · License TX #0439538
(512) 744-8370
Source:
Hauspg
Added: Mar 27
Changed: Nov 7
Last Checked: Nov 10 at 10:44AM
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 Pine & Beckett - Chris Beckett
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This property presents an opportunity to own a residence, a bar, and a small convenience store. Constructed in 2024, the property includes a barndominium featuring three bedrooms, one bathroom, laundry facilities, a garage or living room, and a full kitchen. The bar and patio are turnkey, equipped with TVs, turf, bathrooms, a screened-in patio, pool tables, heating and cooling systems, and lighting. The store is equipped with the necessary items for the community, and all permits are in place. The property is located on E Hammett Dr in Odessa, TX, and benefits from heavy traffic.
Key Highlights
- Turn‑key operation: Includes a residence, bar (Lulu's Bar), and convenience store, all ready for immediate operation.
- New Construction: Built in 2023/2024 with modern amenities.
- Established business with high output and heavy traffic providing great income potential.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$72,317
Cap Rate
8.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,446,340
$1.4M
Cap Rate 7%
$1,033,100
$1.0M
Cap Rate 9%
$803,522
$803.5K
Market Conditions
NOI Build-Up for 5,400 SF
Gross rent
$103.7K $19.20/SF
− Vacancy
−$7.3K −$1.34/SF
EGI
$96.4K $17.86/SF
− OpEx
−$24.1K −$4.46/SF
NOI
$72.3K $13.39/SF
Area
Odessa, TX
Vacancy
7.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,446,340
Cap Rate 7%
$1,033,100
Cap Rate 9%
$803,522
Alternative Uses
Best Use
Specialty Retail
$1.03M
$904.0K – $1.21M
NOI $72,317 @ 7.0% cap · market cap 8.04%
Second Best
Retail
$859.7K
$752.3K – $1.00M
NOI $60,181 @ 7.0% cap · market cap 6.69%
Theoretical Best
Office A
$1.37M
$1.20M – $1.60M
NOI $96,075 @ 7.0% cap · market cap 10.68%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
7
Businesses Nearby
Well-served
Demand for This Use
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
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Bar & Pub - Turnkey bar, store, and residence with high traffic location.
Where is this bar & pub located?
The property is located at 5011 E Hammett Dr Odessa, TX.
What is the asking price?
The asking price for this property is $899,900.
What are key features of this property?
This property features: Turn‑key operation: Includes a residence, bar (Lulu's Bar), and convenience store, all ready for immediate operation.; New Construction: Built in 2023/2024 with modern amenities.; Established business with high output and heavy traffic providing great income potential.
