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    214 5Th St Odessa, TX 79761

    For Sale
    $920,000

    Versatile Office Space, Prime Location

    Property size:
    5,200 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    364
    This 5,200 sq ft, two-story Class B office building in Odessa, TX, presents a unique owner-user opportunity. Located on a 0.18-acre lot at 214 W 5th St, 79761, this property boasts a central business zoning designation and is ideally situated near major amenities including Starbucks, Torchy's Tacos, Scooter's Coffee, Medical Center Hospital, and the Odessa Marriott. The building, constructed in 1963 and extensively renovated in 2017 (exterior paint, windows, pavement), offers a blank canvas for customization. The interior has been completely stripped, allowing for a full build-out to suit specific business needs. Nine paved parking spaces are available. Utilities include city water, sewer, and internet access. This property is eligible for a $250,000 grant from the Odessa Development Corporation for revitalization projects, post-closing, making it an exceptional investment opportunity. The asking price is $920,000 ($176.92/sq ft). The property is suitable for executive, medical, or traditional office uses.

    Property Features for 214 5Th St

    General Information

    Property type
    Medical offices
    Square Feet
    5,200 SF
    Class
    B
    Lot Size
    7,884 SF

    Building Details

    Year Built/Renovated
    1963/2017
    Buildings
    1
    Stories
    2

    HighLights

    • High‑quality office or medical space available.
    • Prime location, less than half a mile from major amenities including Starbucks, Medical Center Hospital, Odessa Marriott, Torchy's Tacos, and Scooter's Coffee.
    • Full build‑out customization options available.
    • Excellent investment opportunity.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Medical offices

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Dental Office Spa & Massage Wholesale Shop Hair Salon Auto Repair Shop Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Odessa
    County
    Ector
    State
    Texas
    Longitude
    -102.37125457134
    Latitude
    31.847524396628

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    FAQs

    What type of property is this?
    Medical office - Versatile Office Space, Prime Location
    Where is this medical office located?
    The property is located at 214 5Th St Odessa, TX.
    What is the asking price?
    The asking price for this property is $920,000.
    What are key features of this property?
    This property features: High-quality office or medical space available.; Prime location, less than half a mile from major amenities including Starbucks, Medical Center Hospital, Odessa Marriott, Torchy's Tacos, and Scooter's Coffee.; Full build-out customization options available.
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    214 5Th St Odessa, TX 79761
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    214 5Th St Odessa, TX 79761
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