507 N Lee Ave, Odessa, TX 79761
SINGLE_FAMILY - Odessa, TX
- Added:
- Apr 19, 2026
- Days on Market:
- 58
- Last Refresh:
- Jun 15 at 2:06 pm
Property Features for 507 N Lee Ave
General Information
- Property type
- Residential
- Property subtype
- Office
- Standard status
- Active
- APN
- 22000.0076000000
- Size
- 1,800 SF
- Lot size
- 0.16 Acres
Taxes and HOA fees
- Tax Annual Amount
- 2015
Building Details
- Year built
- 1955
- Building materials
- Brick
- Roof type
- Flat
Listing agent Clara Garcia License #0815964 (432) 934-6039
Listing office The Real Estate Group 865 Tower Dr, Odessa, TX (432) 272-4848
Listing date Apr 19, 2026
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
- Brick construction
- Flat roof
- Built in 1955
Overview
Located at 507 N Lee Ave in Odessa, Texas 79761 (Ector County), the building is positioned for straightforward access from the local roadway network serving the area.
This size and configuration typically suits owner-operators and small teams looking for a dedicated workplace without the scale of a larger multi-tenant office building. The property’s straightforward footprint can be a practical fit for professional services and other office-based uses, provided the intended tenant’s operational needs align with the available space. For brokers and buyers, it offers a compact option within the Odessa market for those focused on control, simplicity, and manageable facility scale.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $37.8k | $21.00 |
| − Vacancy | −$5.9k | −$3.26 |
| EGI | $31.9k | $17.75 |
| − OpEx | −$8.0k | −$4.44 |
| NOI | $24.0k | $13.31 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Odessa
- County
- Ector
- State
- Texas
- Longitude
- -102.3652995
- Latitude
- 31.8407101
