Renovated Showroom with On-Site
For Sale
Contact for pricing
515 W 42nd St, Odessa, TX 79764
Updated showroom includes display shelving, bar-style countertops, on-site parking, and security cameras.
Property Size4,620 SF
Price / SF$153.68
Days on Market171
Property Features for 515 W 42nd St
General Information
Standard status
Active
Size
4,620 SF
Property subtype
RETAIL
Amenities
Large Show Room
Bar Style Countertops & Shelving
Convenient On-Site Parking
Active Exterior & Interior Security Cameras
Building Details
Year Renovated
2025
Properties For Sale
at 515 W 42nd St Contact us- Floor
- Bldg
- Size
- 4,620 SF
- Type
- RETAIL
- Lease Type
- NNN
- Availability
- AVAILABLE, Now
- Sublease
- No
515 W 42nd St
- Frontage on 42nd Street
- Newly Renovated (2025)
- Highlights: Large Show Room...
show more
Contact us
Listing Agency:
Moriah Brokerage Services
(432) 682-2510
Listed By:
Wes Gotcher · License #723150
Source:
Moodyscre
Added: Mar 12
Changed: Aug 29
Last Checked: Aug 29 at 2:51PM
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 Moriah Brokerage Services
Investment Insights
Based on property information with market context.
This 4,620-square-foot showroom at 515 W 42nd St features a large display area with bar-style countertops and shelving. The property was renovated in 2025 and includes active security cameras serving both the interior and exterior.
The building has frontage on 42nd Street and convenient on-site parking, combining customer-facing presentation space with practical access and built-in security features. Its showroom configuration and existing display improvements support a range of retail-oriented operations.
The building has frontage on 42nd Street and convenient on-site parking, combining customer-facing presentation space with practical access and built-in security features. Its showroom configuration and existing display improvements support a range of retail-oriented operations.
Key Highlights
- 4,620‑square‑foot showroom
- Renovated in 2025
- Frontage on 42nd Street
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
$51,489
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
7.25%
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%
$1,029,780
$1.0M
Cap Rate 7%
$735,557
$735.6K
Cap Rate 9%
$572,100
$572.1K
Market Conditions
NOI Build-Up for 4,620 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
$80.4K $17.40/SF
− Vacancy
−$6.8K −$1.48/SF
EGI
$73.6K $15.92/SF
− OpEx
−$22.1K −$4.78/SF
NOI
$51.5K $11.14/SF
Area
Odessa, TX
Vacancy
8.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
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%
$1,029,780
Cap Rate 7%
$735,557
Cap Rate 9%
$572,100
Alternative Uses
Best Use
Retail
$735.6K
$643.6K – $858.2K
NOI $51,489 @ 7.0% cap · market cap 7.25%
Second Best
—
—
no second resolved use
Theoretical Best
Flex RnD
$6.72M
$5.88M – $7.84M
NOI $470,151 @ 7.0% cap · market cap 66.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
403
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 79764, TX
26,271
Population
10,326
Households
2.5
Avg Household Size
33
Median Age
20%
College-Educated
74%
High-School Grad
54.5 sq mi
ZIP Area
482
Density / Sq Mi
$68,367
Median Household Income
$52,054
Median Earnings
$944
Median Rent
$150,400
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.
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Frequently Asked Questions
What type of property is this?
Showroom - Updated showroom includes display shelving, bar-style countertops, on-site parking, and security cameras.
Where is this showroom located?
The property is located at 515 W 42nd St Odessa, TX.
What is the asking price?
The asking price for this property is $710,000.
What are key features of this property?
This property features: 4,620‑square‑foot showroom; Renovated in 2025; Frontage on 42nd Street
