Corner Lot Commercial
For Sale
Contact for pricing
2201 E 8th St, Odessa, TX 79761
Commercial building with covered parking, suitable for various businesses.
Property Size3,150 SF
Price / SF$209.52
Days on Market469
Property Features for 2201 E 8th St
General Information
Standard status
Active
Size
3,150 SF
Total Parking Spaces
2
Property subtype
Retail, Office
Zoning
EA2
Lease Type
NNN
Investment Type
Owner/User
Building Details
Year Built
1962
Stories
1
Tenancy
Single
Listing Agency:
New Heights Real Estate, LLC
(432) 703-2545
Listed By:
Cassandra "Cassie" Pearce 432-703-2545 · License #TX 588281
Source:
Crexi
Added: May 1, 2025
Changed: Aug 8
Last Checked: Aug 8 at 4:14AM
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 New Heights Real Estate, LLC
Investment Insights
Based on property information with market context.
This commercial building, situated on a large corner lot, offers 3150 square feet of space. The property includes covered parking and asphalt parking. Inside, there are multiple rooms with windows and offices, along with a conference room. A garage in the back provides space to work on vehicles, serve as a shop, or offer additional parking, featuring two bay doors. The building is connected to city water and sewer services. The location is suitable for a car or used car dealership, a nail and tanning salon, offices with a conference room, or a multi-hair stylist setup. The building has windows and offers great visibility.
Key Highlights
- Large 3150 SQ' Corner Lot Commercial Building
- Flexible Use: Car Dealership, Salon, Offices, or Multi Hair Stylists
- Available for Sale or Lease
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
$41,923
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
6.35%
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%
$838,460
$838.5K
Cap Rate 7%
$598,900
$598.9K
Cap Rate 9%
$465,811
$465.8K
Market Conditions
NOI Build-Up for 3,150 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
$66.2K $21.00/SF
− Vacancy
−$10.3K −$3.26/SF
EGI
$55.9K $17.75/SF
− OpEx
−$14.0K −$4.44/SF
NOI
$41.9K $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%
$838,460
Cap Rate 7%
$598,900
Cap Rate 9%
$465,811
Alternative Uses
Best Use
Industrial
$2.67M
$2.34M – $3.12M
NOI $186,940 @ 7.0% cap · market cap 28.32%
Second Best
Office B
$598.9K
$524.0K – $698.7K
NOI $41,923 @ 7.0% cap · market cap 6.35%
Theoretical Best
Flex RnD
$4.58M
$4.01M – $5.34M
NOI $320,557 @ 7.0% cap · market cap 48.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
992
Businesses Nearby
Well-served
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 Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Parking lot & garage - Commercial building with covered parking, suitable for various businesses.
Where is this parking lot & garage located?
The property is located at 2201 E 8th St Odessa, TX.
What is the asking price?
The asking price for this property is $660,000.
What are key features of this property?
This property features: Large 3150 SQ' Corner Lot Commercial Building; Flexible Use: Car Dealership, Salon, Offices, or Multi Hair Stylists; Available for Sale or Lease
