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 Market62
Property Features for 5011 E Hammett Dr
General Information
Property type
Commercial Sale
Property subtype
Other
Fencing
Chain Link, Fenced
Appliances
Individual AC Units, Individual Heating Units, Central Hot Water
Subdivision
Martin n Boan
Lot features
Corner Lot
Standard status
Active
APN
18400.00880.02100
Size
5,400 SF
Lot size
0.34 Acres
Taxes and HOA fees
Tax Annual Amount
9999999
Utilities
Sewer type
Private Sewer
Building Details
Year built
2023
Floors in Building
2
Building materials
Metal Construction, Metal Siding, Metal Studs
Roof type
Metal
Listing Agency:
Pine & Beckett - Chris Beckett
(432) 349-7000
Listed By:
Chris Beckett · License #0439538
(432) 349-7000
Added: Jun 15
Changed: Aug 4
Last Checked: Aug 15 at 7:06PM
MLS# 167638
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.
This bar and small convenience store property includes an on-site residence setup featuring three bedrooms, one bathroom, laundry, and a full kitchen, along with a garage or living room. The bar area and patio are described as turnkey, including TVs, turf, baths, and a screened-in patio with pool tables, plus heating, cooling, and lighting.
The building is metal constructed with metal siding and metal studs, on a 0.34-acre site. Chain-link fencing is in place, and the roof is metal. Utilities are supported by private sewer, and the property includes individual AC and individual heating units, along with central hot water.
The convenience store is stated to have everything necessary for the community, with permits reported as in place.
The building is metal constructed with metal siding and metal studs, on a 0.34-acre site. Chain-link fencing is in place, and the roof is metal. Utilities are supported by private sewer, and the property includes individual AC and individual heating units, along with central hot water.
The convenience store is stated to have everything necessary for the community, with permits reported as in place.
Key Highlights
- 0.34‑acre site with 5,400 SF bar and convenience store building
- Metal construction with metal siding, metal studs, and a metal roof
- Turnkey bar and patio setup with TVs, turf, baths, screened patio, and pool tables
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
Retail
$859.7K
$752.3K – $1.00M
NOI $60,181 @ 7.0% cap · market cap 6.69%
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
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
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Bar & Pub - Metal construction bar with an on-site convenience store and screened patio, built in 2023 with private sewer.
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: 0.34‑acre site with 5,400 SF bar and convenience store building; Metal construction with metal siding, metal studs, and a metal roof; Turnkey bar and patio setup with TVs, turf, baths, screened patio, and pool tables
