Fenced Flex Space with Bay
For Sale
$995,000
6505 Faudree Rd, Odessa, TX 79762
Shop combines controlled access, utility infrastructure, and finished lounge amenities for commercial or residential use.
Property Size5,476 SF
Lot Size1.00 Acre
Price / SF$181.70
Days on Market49
Property Features for 6505 Faudree Rd
General Information
Standard status
Active
Size
5,476 SF
Lot size
1.00 Acre
Site & Location
Fenced Yard
Yes
Utilities to Site
Yes
Additional Details
Drive-In Doors
2
Building Details
Year Built
2015
Listing Agency:
Sims & Guess Realtors
Listed By:
Nicole Pool · License #0731309
(432) 553-3679
Source:
Hauspg
Added: Sep 16
Changed: Oct 26
Last Checked: Oct 7 at 3:24PM
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 Sims & Guess Realtors
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 2015, this 5,476-square-foot flex shop occupies 1 acre in the county and is positioned for both commercial and residential use. The building includes two bay doors, coded entry, cinderblock and metal fencing, a water well, and a septic system.
The interior adds a finished lounge area with a granite kitchen, custom wood cabinetry, ice maker, wine rack, full bathroom with shower, mini-split A/C, and overhead storage. The combination of shop functionality, enclosed site features, and finished interior space supports a range of work, storage, hobby, and private-use needs.
The interior adds a finished lounge area with a granite kitchen, custom wood cabinetry, ice maker, wine rack, full bathroom with shower, mini-split A/C, and overhead storage. The combination of shop functionality, enclosed site features, and finished interior space supports a range of work, storage, hobby, and private-use needs.
Key Highlights
- 5,476 SF flex shop on 1 acre
- Built in 2015 with two bay doors
- Coded entry plus cinderblock and metal fencing
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$69,141
Cap Rate
6.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,382,820
$1.4M
Cap Rate 7%
$987,729
$987.7K
Cap Rate 9%
$768,233
$768.2K
Market Conditions
NOI Build-Up for 5,476 SF
Gross rent
$121.6K $22.20/SF
− Vacancy
−$10.9K −$2.00/SF
EGI
$110.6K $20.20/SF
− OpEx
−$41.5K −$7.58/SF
NOI
$69.1K $12.63/SF
Area
Odessa, TX
Vacancy
9.00%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,382,820
Cap Rate 7%
$987,729
Cap Rate 9%
$768,233
Alternative Uses
Best Use
Flex RnD
$7.96M
$6.97M – $9.29M
NOI $557,261 @ 7.0% cap · market cap 56.01%
Second Best
Warehouse
$6.44M
$5.64M – $7.51M
NOI $450,897 @ 7.0% cap · market cap 45.32%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
2
Drive-in doors
Yes
Fenced yard
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
50
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 79762, TX
40,253
Population
17,259
Households
2.3
Avg Household Size
34
Median Age
22%
College-Educated
87%
High-School Grad
30.5 sq mi
ZIP Area
1,320
Density / Sq Mi
$74,560
Median Household Income
$45,151
Median Earnings
$1,338
Median Rent
$218,900
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Flex space - Shop combines controlled access, utility infrastructure, and finished lounge amenities for commercial or residential use.
Where is this flex space located?
The property is located at 6505 Faudree Rd Odessa, TX.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: 5,476 SF flex shop on 1 acre; Built in 2015 with two bay doors; Coded entry plus cinderblock and metal fencing
