Five-Bay
For Sale
Contact for pricing
635 Express Way, Odessa, TX 79761
A secured, open interior gives a business room to shape the space around its operations.
Property Size3,100 SF
Price / SF$1.24
Days on Market69
Property Features for 635 Express Way
General Information
Standard status
Active
Size
3,100 SF
Property subtype
Commercial
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Additional Details
Property Use
Warehouse
Taxes and HOA fees
Annual Taxes
$1,654
Building Details
Building Size
3,100 SF
Year Built
1958
Buildings
2
Stories
1
Listing Agency:
JPS Realty Group at CIC Realty
(945) 225-7211
Listed By:
Jaime P. Salgado · License #0573228
(432) 770-5116
Source:
Gloriarealestate
Added: Aug 19
Changed: Oct 25
Last Checked: Oct 24 at 2:49PM
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 JPS Realty Group at CIC Realty
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 3,100-square-foot warehouse, built in 1958, has five bay doors and an interior shell ready for a new configuration. A six-foot metal fence encloses the property, which occupies more than one-half acre.
At 635 Express Way in Odessa, the site is within city limits near 8th Street and Grandview, with access to Highway 80 and IH-20.
At 635 Express Way in Odessa, the site is within city limits near 8th Street and Grandview, with access to Highway 80 and IH-20.
Key Highlights
- 3,100‑square‑foot warehouse with five bay doors
- Property spans more than 1/2 acre
- Enclosed by a six‑foot metal fence
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$255,256
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,105,120
$5.1M
Cap Rate 7%
$3,646,514
$3.6M
Cap Rate 9%
$2,836,178
$2.8M
Market Conditions
NOI Build-Up for 3,100 SF
Gross rent
$336.7K $108.60/SF
− Vacancy
−$36.4K −$11.73/SF
EGI
$300.3K $96.87/SF
− OpEx
−$45.0K −$14.53/SF
NOI
$255.3K $82.34/SF
Area
Odessa, TX
Vacancy
10.80%
Lease Rate
$108.60 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,105,120
Cap Rate 7%
$3,646,514
Cap Rate 9%
$2,836,178
Alternative Uses
Best Use
Warehouse
$3.65M
$3.19M – $4.25M
NOI $255,256 @ 7.0% cap · market cap 6,630.03%
Second Best
—
—
no second resolved use
Theoretical Best
Flex RnD
$4.51M
$3.94M – $5.26M
NOI $315,469 @ 7.0% cap · market cap 8,194.00%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
816
Businesses Nearby
Balanced
Demand for This Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
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- 619 Storage — 620 Dale St, Odessa, TX 79761
Frequently Asked Questions
What type of property is this?
Warehouse - A secured, open interior gives a business room to shape the space around its operations.
Where is this warehouse located?
The property is located at 635 Express Way Odessa, TX.
What are key features of this property?
This property features: 3,100‑square‑foot warehouse with five bay doors; Property spans more than 1/2 acre; Enclosed by a six‑foot metal fence
