Bar and Convenience Store
For Sale
$899,900
5011 E Hammett Dr, Odessa, TX 79766
COMMERCIAL - Odessa, TX
Property Size5,400 SF
Lot Size0.34 Acres
Price / SF$166.65
Days on Market180
Property Features for 5011 E Hammett Dr
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
Martin n Boan
Standard status
Active
Size
5,400 SF
Lot size
0.34 Acres
Taxes and HOA fees
Tax Description
MARTIN & BOAN SUBDIVISION BLOCK 3 SOUTH 74 FT OF THE W 1/2 OF LOT 24
Tax Annual Amount
9999999
Legal Description
MARTIN & BOAN SUBDIVISION BLOCK 3 SOUTH 74 FT OF THE W 1/2 OF LOT 24
Building Details
Year built
2023
Listing Agency:
Pine & Beckett - Chris Beckett
(432) 686-7000
Listed By:
Chris Beckett Broker Owner CRS GRI ASR e-Pro
(432) 349-7000
Added: Feb 25
Changed: Aug 4
Last Checked: Aug 24 at 12:06AM
MLS# 50091129
Copyright © 2026 Permian Basin 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.
This offering combines a bar and small convenience store with a 3-bedroom, 1-bath barndominium. The residence includes laundry and a full kitchen, along with a garage or living room configuration. The bar and patio are described as turn-key and include TVs, turf, baths, and a screened-in patio, with pool tables also provided. Heating and cooling and lighting are included as part of the operating improvements.
Located at 5011 E Hammett Dr in Odessa, Texas (Ector County), the property is presented as a newer build from 2024 and is listed at 5,400 square feet with a 0.34-acre lot. Public remarks also indicate all necessary permits are in place and that the store is equipped with items necessary for community use.
For an owner-operator or a buyer looking for one-site operation, the layout supports both hospitality and retail activity alongside on-site living. With the bar and patio delivered as turn-key and the convenience store positioned to serve daily needs, this property may fit well for operators who want immediate functionality rather than start-up buildout.
Located at 5011 E Hammett Dr in Odessa, Texas (Ector County), the property is presented as a newer build from 2024 and is listed at 5,400 square feet with a 0.34-acre lot. Public remarks also indicate all necessary permits are in place and that the store is equipped with items necessary for community use.
For an owner-operator or a buyer looking for one-site operation, the layout supports both hospitality and retail activity alongside on-site living. With the bar and patio delivered as turn-key and the convenience store positioned to serve daily needs, this property may fit well for operators who want immediate functionality rather than start-up buildout.
Key Highlights
- Turnkey bar and convenience store with residence ready for you.
- Almost new construction (2023/2024).
- High traffic location.
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
$72,317
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
8.04%
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%
$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
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
$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 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%
$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
Mixed Use
$974.0K
$852.3K – $1.14M
NOI $68,182 @ 7.0% cap · market cap 7.58%
Theoretical Best
Flex RnD
$7.85M
$6.87M – $9.16M
NOI $549,527 @ 7.0% cap · market cap 61.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
7
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
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Newer bar, screened patio, and convenience store plus a 3-bedroom barndominium—built for turnkey everyday operations.
Where is this mixed-use property 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: Turnkey bar and convenience store with residence ready for you.; Almost new construction (2023/2024).; High traffic location.
