Flex Space with Two-Bay
For Sale
$995,000
6505 Faudree Rd, Odessa, TX 79762
Commercial Sale, Odessa, TX
Property Size5,476 SF
Lot Size1.02 Acres
Price / SF$181.70
Days on Market47
Property Features for 6505 Faudree Rd
General Information
Property type
Commercial Sale
Property subtype
Other
Parking
3
Fencing
Fenced, Chain Link
Subdivision
EF2
Standard status
Active
APN
41830.00038.06000
Size
5,476 SF
Lot size
1.02 Acres
Taxes and HOA fees
Tax Annual Amount
5150
Utilities
Sewer type
Private Sewer
Water source
Well
Building Details
Year built
2015
Building materials
Concrete, Metal Construction, Metal Siding
Roof type
Metal
Listing Agency:
SIMS & GUESS, REALTORS
(432) 368-6800
Listed By:
Nicole Pool · License #0731309
(432) 553-3679
Added: Aug 25
Changed: Sep 4
Last Checked: Oct 10 at 8:06AM
MLS# 175930
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 5,476-square-foot flex property on 1.02 acres was constructed in 2015 with concrete and metal building materials, a metal roof, two bay doors, and secure coded entry. The site is enclosed by chain-link and metal fencing and includes a private well and sewer system.
Interior improvements include a lounge area with a granite kitchen, custom wood cabinetry, ice maker, wine rack, full bathroom with shower, mini-split air conditioning, and overhead storage. The property is located at 6505 Faudree Rd in Odessa, within Ector County, Texas.
Interior improvements include a lounge area with a granite kitchen, custom wood cabinetry, ice maker, wine rack, full bathroom with shower, mini-split air conditioning, and overhead storage. The property is located at 6505 Faudree Rd in Odessa, within Ector County, Texas.
Key Highlights
- 5,476 SF flex property on 1.02 acres
- 2015 construction with concrete and metal materials
- Two bay doors and secure coded entry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$72,879
Cap Rate
7.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,457,580
$1.5M
Cap Rate 7%
$1,041,129
$1.0M
Cap Rate 9%
$809,767
$809.8K
Market Conditions
NOI Build-Up for 5,476 SF
Gross rent
$115.0K $21.00/SF
− Vacancy
−$17.8K −$3.26/SF
EGI
$97.2K $17.75/SF
− OpEx
−$24.3K −$4.44/SF
NOI
$72.9K $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 Rate 5%
$1,457,580
Cap Rate 7%
$1,041,129
Cap Rate 9%
$809,767
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
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Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
48
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Flex space - Fenced commercial property with secure entry, private well, septic system, and adaptable interior improvements.
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 property on 1.02 acres; 2015 construction with concrete and metal materials; Two bay doors and secure coded entry
