Fenced Flex Space with Bay
New
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 Market3
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: Sep 17
Last Checked: Sep 17 at 2:25AM
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
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 = 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
$69,141
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
6.95%
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%
$1,382,820
$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
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
$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 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%
$1,382,820
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.
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
Questions? Ask Rey
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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
