Building Details

Year Built 1980

Listing Agency: eXp Realty LLC

Listed By: Chase Moore Show Phone

Source: Raftercrossrealty

Added: Jul 21 Changed: Oct 4 Last Checked: Oct 7 at 2:07PM

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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 eXp Realty LLC

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Investment Insights

Based on property information with market context.

This offering is an approximately 3,800 SF office building designed with a flexible interior layout and multiple rooms. The space includes a full kitchen and a dedicated laundry area, along with multiple restrooms featuring several showers. The building is equipped with a fire sprinkler system.

The property is described as being in the heart of Odessa with convenient access to major roads. It is offered for sale only, and suitable use is subject to zoning.

Inside, the combination of rooms, kitchen, laundry, and restrooms with showers supports a range of commercial configurations within the limitations of applicable zoning.

Key Highlights

• Approximately 3,800 SF commercial building with flexible floor plan
• Multiple rooms and options for office, medical, non‑profit, educational, workforce housing, or other commercial uses (subject to zoning)
• Full kitchen plus laundry area

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$51,601

Cap Rate

7.37%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,032,020 $1.0M

Cap Rate 7%

$737,157 $737.2K

Cap Rate 9%

$573,344 $573.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,800 SF

Gross rent

$93.5K $24.60/SF

− Vacancy

−$7.5K −$1.97/SF

EGI

$86.0K $22.63/SF

− OpEx

−$34.4K −$9.05/SF

NOI

$51.6K $13.58/SF

Area

Odessa, TX

Vacancy

8.00%

Lease Rate

$24.60 /SF/Yr

Expense Ratio

40.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,032,020

Cap Rate 7%

$737,157

Cap Rate 9%

$573,344

Alternative Uses

Best Use

Healthcare Medical

$737.2K

$645.0K – $860.0K (±1% cap)

NOI $51,601 @ 7.0% cap · market cap 7.37%

Second Best

Office B

$722.5K

$632.2K – $842.9K (±1% cap)

NOI $50,573 @ 7.0% cap · market cap 7.22%

Theoretical Best

Flex RnD

$5.52M

$4.83M – $6.45M (±1% cap)

NOI $386,704 @ 7.0% cap · market cap 55.24%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Contact the owner directly Get the owner's phone numbers and email

Open Analytics

Current Use

Social Host Social Service Agency Mix It Up ... Marketing & Advertising Goosehead Insurance - The Valenzuela ... Insurance Agency Thomas Rebecca Alternative Medicine Practice Star Hospice Employment Agency

Suggested Use

Top Pick Dental Office Real Estate Agency HVAC Service (Bike/Boat/Book/etc) Store Garden Center Electrical Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

1,049

Businesses Nearby

Explore this area Business Placement

Demographics for 79761, TX

30,187

Population

13,591

Households

2.2

Avg Household Size

35

Median Age

14%

College-Educated

76%

High-School Grad

10.4 sq mi

ZIP Area

2,903

Density / Sq Mi

$69,279

Median Household Income

$42,724

Median Earnings

$1,246

Median Rent

$158,400

Median Home Value

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

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Frequently Asked Questions

What type of property is this?

Office building - Approximately 3,800 SF office building with multiple rooms, a full kitchen, laundry area, and fire sprinklers.

Where is this office building located?

The property is located at 620 S Grant Odessa, TX.

What is the asking price?

The asking price for this property is $699,999.

What are key features of this property?

This property features: Approximately 3,800 SF commercial building with flexible floor plan; Multiple rooms and options for office, medical, non‑profit, educational, workforce housing, or other commercial uses (subject to zoning); Full kitchen plus laundry area