Commercial Office Building with
For Sale
$975,000
6015 Andrews Hwy, Odessa, TX 79764
SINGLE_FAMILY - Odessa, TX
Property Size5,000 SF
Lot Size2.00 Acres
Price / SF$195
Days on Market46
Property Features for 6015 Andrews Hwy
General Information
Property type
Residential
Property subtype
Office
Fencing
Chain Link
Subdivision
Lakeview
Lot features
Corner Lot
Standard status
Active
APN
16900.00081.00000
Size
5,000 SF
Lot size
2.00 Acres
Taxes and HOA fees
Tax Annual Amount
30802
Building Details
Year built
2022
Building materials
Metal Construction
Roof type
Metal
Listing Agency:
Black Orchid Real Estate, LLC
(432) 813-3538
Listed By:
Ronda Peroutka · License #0680846
(432) 202-0182
Added: Jun 26
Changed: Aug 7
Last Checked: Aug 10 at 5:06PM
MLS# 175755
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 offering includes a 5,000 square-foot “Red” commercial building situated on 2 acres. The property is being marketed as ready for your business, with the existing building serving as the primary improvement. Buyers should plan to conduct their own due diligence regarding taxes, boundary lines, and zoning applicability.
The property is located at 6015 Andrews Hwy in Odessa, Texas, in Ector County (ZIP 79764). The listing presents the asset as a standalone commercial building opportunity on acreage.
As an office-oriented commercial building, this layout can support a range of professional uses where an owner wants the simplicity of starting from an existing building footprint. The 2-acre site provides outdoor space that may be useful for operations that benefit from room beyond the enclosed office area. Since specific tenant improvements, current occupancy status, and zoning details are not provided, prospective buyers and tenants should confirm permitted uses and building requirements during the verification process.
The property is located at 6015 Andrews Hwy in Odessa, Texas, in Ector County (ZIP 79764). The listing presents the asset as a standalone commercial building opportunity on acreage.
As an office-oriented commercial building, this layout can support a range of professional uses where an owner wants the simplicity of starting from an existing building footprint. The 2-acre site provides outdoor space that may be useful for operations that benefit from room beyond the enclosed office area. Since specific tenant improvements, current occupancy status, and zoning details are not provided, prospective buyers and tenants should confirm permitted uses and building requirements during the verification process.
Key Highlights
- 2 acres of land with a 5,000 SF “Red” commercial building
- Metal construction with a metal roof
- Built in 2022
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
$66,544
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
6.83%
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%
$1,330,880
$1.3M
Cap Rate 7%
$950,629
$950.6K
Cap Rate 9%
$739,378
$739.4K
Market Conditions
NOI Build-Up for 5,000 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
$105.0K $21.00/SF
− Vacancy
−$16.3K −$3.26/SF
EGI
$88.7K $17.75/SF
− OpEx
−$22.2K −$4.44/SF
NOI
$66.5K $13.31/SF
Area
Odessa, TX
Vacancy
15.50%
Lease Rate
$21.00 /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%
$1,330,880
Cap Rate 7%
$950,629
Cap Rate 9%
$739,378
Alternative Uses
Best Use
Office B
$950.6K
$831.8K – $1.11M
NOI $66,544 @ 7.0% cap · market cap 6.83%
Second Best
—
—
no second resolved use
Theoretical Best
Flex RnD
$7.27M
$6.36M – $8.48M
NOI $508,821 @ 7.0% cap · market cap 52.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
349
Businesses Nearby
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 Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - 5,000 square-foot office building on 2 acres, ready for an owner-operator or tenant buildout.
Where is this office building located?
The property is located at 6015 Andrews Hwy Odessa, TX.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: 2 acres of land with a 5,000 SF “Red” commercial building; Metal construction with a metal roof; Built in 2022
