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    Odessa Commercial Property For Sale Title is generated by Realmo AI

    5011 E Hammett Dr, Odessa, TX 79766

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    For Sale
    $999,000

    COMMERCIAL - Odessa, TX

    Property size:
    5,400 SF
    Lot size:
    0.34 Acres
    Price / SF:
    $185/SF
    Added:
    Apr 8, 2026
    Days on Market:
    39
    Last Refresh:
    May 16 at 5:06 am

    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
    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

    We can help!

    Listing Contact
    Chris Beckett
    Chris Beckett

    Listing agent Chris Beckett License #0439538

    Listing office Pine & Beckett - Chris Beckett 4400 N big spring st. Suite E-100, MIDLAND, TX

    Listing date Apr 8, 2026

    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.

    HighLights

    • Turnkey business opportunity: residence, bar (Lulu's), and convenience store.
    • Almost new construction (2023/2024) with modern amenities.
    • High‑traffic location with potential for high revenue.
    • Barndo residence: 3 beds, 1 bath, full kitchen, laundry, and garage/living room.
    • Turnkey bar and patio: TVs, turf, baths, screened‑in patio, pool tables, heating/cooling, and lighting.
    • Convenience store: fully equipped with all necessary permits in place.

    Overview

    This commercial property in Odessa, TX, presents an opportunity to own a residence, a bar, and a small convenience store. Constructed in 2024, the property includes a barndo with 3 bedrooms, 1 bathroom, laundry facilities, a garage or living room, and a full kitchen. The bar and patio are turn-key, equipped with TVs, turf, bathrooms, a screened-in patio, pool tables, heating, cooling, and lighting. The store is equipped with all necessary items for the community, and all permits are in place. The lot size is 0.34 acres. The property size is 5400 square feet. The property experiences heavy traffic.

    Financial Insights

    Value Estimation Calculated for Specialty Retail

    Conservative
    $803.5K
    NOI $72,317 @ 9.00% cap · cautious / downside scenario
    Moderate
    $1.03M
    NOI $72,317 @ 7.00% cap · market / base-case scenario
    Aggressive
    $1.45M
    NOI $72,317 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    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.
         Calculated for Specialty Retail

    Component $ $/SF
    Gross rent $103.7k $19.20
    − Vacancy −$7.3k −$1.34
    EGI $96.4k $17.86
    − OpEx −$24.1k −$4.46
    NOI $72.3k $13.39
    5,400 SF · lease $19.20/SF/yr · vacancy 7.00% · expense 25.00%

    Alternative Use Scenarios

    Best Use
    Specialty Retail
    $1.03M
    $904.0K – $1.21M (±1% cap)
    NOI $72,317 @ 7.0% cap · market cap 7.24%
    Second Best
    Retail
    $859.7K
    $752.3K – $1.00M (±1% cap)
    NOI $60,181 @ 7.0% cap · market cap 6.02%
    Theoretical Best
    Flex RnD
    $7.85M
    $6.87M – $9.16M (±1% cap)
    NOI $549,527 @ 7.0% cap · market cap 55.01%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Bars & Pubs

    Suggested Use

    Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Odessa
    County
    Ector
    State
    Texas
    Longitude
    -102.3034584
    Latitude
    31.8259121

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    FAQs

    What type of property is this?
    Bar & Pub - Commercial property featuring a bar, store, and residence in Odessa, TX.
    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 $999,000.
    What are key features of this property?
    This property features: Turnkey business opportunity: residence, bar (Lulu's), and convenience store.; Almost new construction (2023/2024) with modern amenities.; High‑traffic location with potential for high revenue.
    (432) 349-7000
    We can help!
    Listing Contact
    Chris Beckett
    Chris Beckett
    Real Estate License ID: 0439538
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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