Storefront Retail
For Sale
$250,000
804 N Hancock Ave, Odessa, TX 79761
For sale retail storefront property in Odessa, TX with 1,504 sq. ft. of usable space.
Property Size1,504 SF
Price / SF$166.22
Days on Market38
Property Features for 804 N Hancock Ave
General Information
Standard status
Active
Size
1,504 SF
Building Details
Year Built
1960
Listing Agency:
Copper Key Realty
(432) 614-6004
Listed By:
Tisha Golden · License #0681633
Source:
Hauspg
Added: Jul 18
Changed: Aug 24
Last Checked: Aug 23 at 2:34AM
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 Copper Key Realty
Investment Insights
Based on property information with market context.
This for-sale storefront retail property provides 1,504 sq. ft. of space configured for retail use. As a storefront-style asset, it is suited for businesses that benefit from a direct street-facing presence.
The property is located at 804 N Hancock Ave in Odessa, Texas.
The property is located at 804 N Hancock Ave in Odessa, Texas.
Key Highlights
- Retail storefront property in Odessa, TX
- 1,504 sq. ft. of usable space
- Year built: 1960
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
$16,762
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
6.70%
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%
$335,240
$335.2K
Cap Rate 7%
$239,457
$239.5K
Cap Rate 9%
$186,244
$186.2K
Market Conditions
NOI Build-Up for 1,504 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
$26.2K $17.40/SF
− Vacancy
−$2.2K −$1.48/SF
EGI
$23.9K $15.92/SF
− OpEx
−$7.2K −$4.78/SF
NOI
$16.8K $11.14/SF
Area
Odessa, TX
Vacancy
8.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
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%
$335,240
Cap Rate 7%
$239,457
Cap Rate 9%
$186,244
Alternative Uses
Best Use
Retail
$239.5K
$209.5K – $279.4K
NOI $16,762 @ 7.0% cap · market cap 6.70%
Second Best
—
—
no second resolved use
Theoretical Best
Flex RnD
$2.19M
$1.91M – $2.55M
NOI $153,053 @ 7.0% cap · market cap 61.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,928
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
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - For sale retail storefront property in Odessa, TX with 1,504 sq. ft. of usable space.
Where is this storefront property located?
The property is located at 804 N Hancock Ave Odessa, TX.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Retail storefront property in Odessa, TX; 1,504 sq. ft. of usable space; Year built: 1960
