Current Use by Public Records
- Retail properties & Spaces
Property Details for 8011 Highway 191
- Year built
- 2024
- Lot size
- 0.90 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Restaurants
Description
This exceptional investment opportunity presents a 2,200 square foot Starbucks located at 8011 E Highway 191, Odessa, TX 79765. The property sits on a 0.9-acre lot and boasts a new 10-year corporate net lease with a highly-rated tenant, Starbucks (S&P BBB+), the world's largest specialty coffee retailer. The lease commenced December 1, 2024, and includes four 5-year renewal options, ensuring long-term income stability. Rent increases are structured with a 10% bump every five years, in both the primary lease and options, providing significant future growth potential. The property's strong financial performance is reflected in its 6.00% cap rate and a substantial net operating income (NOI) of $166,000. Built in 2024, this location benefits from its position in Odessa, Texas, the 3rd fastest-growing small city in the U.S. (per Forbes), within the 7th fastest-growing MSA in the country. A major traffic driver is the upcoming Spring 2025 opening of a new 100,000 square foot Bass Pro Shop directly across TX-191. The property's proximity to Midland International Air & Space Port (over 1.3 million passengers annually) further enhances its visibility and accessibility. The asking price is $2,766,666, translating to a price per square foot of $1,257.58. This is a rare opportunity to acquire a high-performing, net-leased Starbucks in a rapidly expanding market. 100% occupancy is currently maintained.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Odessa
- County
- Ector
- State
- Texas
- Longitude
- -102.333
- Latitude
- 31.8937
