Flex Space with Two-Bay
New
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 Market2
Property Features for 6505 Faudree Rd
General Information
Property type
Commercial Sale
Property subtype
Other
Parking
3
Fencing
Chain Link, Fenced
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
Last Checked: Aug 26 at 4:06AM
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 = 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
$72,879
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
7.32%
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%
$1,457,580
$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
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
$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 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%
$1,457,580
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
Property Profile
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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
