Secure Office Building with
For Sale
$1,200,000
809 Tower Dr, Odessa, TX 79761
ADA-compliant, highly secure office building with 10+ executive offices, open atrium, and 34 parking spaces.
Property Size8,130 SF
Price / SF$147.60
Days on Market54
Property Features for 809 Tower Dr
General Information
Standard status
Active
Size
8,130 SF
Total Parking Spaces
34
Amenities
ADA compliant
highly secure
his & hers restrooms
conference room
training center
storage
kitchenette
copy room
sun-filled open atrium
shared office/cubicle area
reverse osmosis system
automatic tree irrigation
Building Details
Year Built
1966
Listing Agency:
SIMS & GUESS, REALTORS
Listed By:
Nicole Pool · License #0731309
(432) 553-3679
Source:
Raftercrossrealty
Added: Jul 21
Changed: Aug 27
Last Checked: Sep 12 at 12:50PM
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.
Located at 809 Tower Dr in Odessa, TX, this ADA-compliant office building is designed for professional and medical-related services. The interior features 10+ executive offices, a shared office/cubicle area, a conference room, and a training center, along with storage, a kitchenette, and a copy room. An open atrium adds light and visibility within the space.
The property includes his-and-hers restrooms and is described as highly secure. Additional building systems and amenities include five HVAC units, a reverse osmosis system, and automatic tree irrigation. Parking is available with 34 spaces.
The combination of private offices, shared work areas, and flexible meeting and training rooms supports a range of office operations within a single facility.
The property includes his-and-hers restrooms and is described as highly secure. Additional building systems and amenities include five HVAC units, a reverse osmosis system, and automatic tree irrigation. Parking is available with 34 spaces.
The combination of private offices, shared work areas, and flexible meeting and training rooms supports a range of office operations within a single facility.
Key Highlights
- 1966‑built office building with ADA‑compliant, highly secure access
- Versatile interior layout with 10+ executive offices, conference room, training center, and open atrium
- Includes shared office/cubicle area plus storage, kitchenette, and copy room
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
$108,200
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
9.02%
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%
$2,164,000
$2.2M
Cap Rate 7%
$1,545,714
$1.5M
Cap Rate 9%
$1,202,222
$1.2M
Market Conditions
NOI Build-Up for 8,130 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
$170.7K $21.00/SF
− Vacancy
−$26.5K −$3.26/SF
EGI
$144.3K $17.75/SF
− OpEx
−$36.1K −$4.44/SF
NOI
$108.2K $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%
$2,164,000
Cap Rate 7%
$1,545,714
Cap Rate 9%
$1,202,222
Alternative Uses
Best Use
Office B
$1.55M
$1.35M – $1.80M
NOI $108,200 @ 7.0% cap · market cap 9.02%
Second Best
—
—
no second resolved use
Theoretical Best
Flex RnD
$11.82M
$10.34M – $13.79M
NOI $827,343 @ 7.0% cap · market cap 68.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
838
Businesses Nearby
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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?
Office building - ADA-compliant, highly secure office building with 10+ executive offices, open atrium, and 34 parking spaces.
Where is this office building located?
The property is located at 809 Tower Dr Odessa, TX.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 1966‑built office building with ADA‑compliant, highly secure access; Versatile interior layout with 10+ executive offices, conference room, training center, and open atrium; Includes shared office/cubicle area plus storage, kitchenette, and copy room
