Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Property profile & analytics

    42Nd St Odessa, TX 79763

    • Land
    • 6.00 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 0 42Nd St

    Lot size
    6.00 lot acres
    Property type
    Land

    Description

    This exceptional 6-acre commercial land parcel presents a remarkable investment opportunity in Odessa, Texas. Located on West 42nd Street, this property boasts convenient access to major thoroughfares including Highway FM 866, Highway 302, and Interstate 20, ensuring high visibility and easy accessibility. The land is already surveyed and subdivided, with a complete plat available for review. A significant portion of the acreage has been cleared and improved, featuring caliche, chain-link fencing, and existing water wells. Approximately one acre contains caliche, a valuable resource for construction projects. The property's strategic corner lot location offers excellent frontage on West 42nd Street, maximizing its potential for development. Electricity is readily available with a pole at the roadside. This property is offered at an attractive price of $467,000, and there's also the option to purchase smaller parcels of 2 or 3 acres. Don't miss this chance to acquire a prime commercial site in a thriving Texas market. The seller is open to offers for the entire 6 acres or smaller portions. Act quickly, as this opportunity won't last.

    Value Estimations

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Odessa
    County
    Ector
    State
    Texas
    Longitude
    -102.498
    Latitude
    31.8566

    Comparable in this City

    • Value Estimation by Request
      2.00 Acres

      2960 Fm 866

      Land • 2.00 Acres
      2960 Fm 866, Odessa, TX 79763
      View Details
    • Value Estimation by Request
      32.82 Acres

      6801 Murphy St

      Land • 32.82 Acres
      6801 Murphy St, Odessa, TX 79763
      View Details
    • Value Estimation by Request
      5.00 Acres

      850 I-20 Penwell

      Self storage facilities • 4,000 SF
      850 I-20 Penwell, Odessa, TX 79763
      View Details
    • Value Estimation by Request
      13.00 Acres

      9100 Frontage Rd

      Land • 13.00 Acres
      9100 Frontage Rd, Odessa, TX 79763
      View Details
    • Value Estimation by Request
      4,000 SF

      850 I-20

      Individual retail properties • 4,000 SF
      850 I-20, Odessa, TX 79763
      View Details
    • Value Estimation by Request
      2.00 Acres

      2920 Fm 866

      Land • 2.00 Acres
      2920 Fm 866, Odessa, TX 79763
      View Details

    Similar Nearby for Sale

    • $6,961,500
      107.10 Acres

      Prime Odessa Commercial Land

      107 Acres, I-20 Frontage, Rail Access
      14001 Murphy St, Odessa, TX 79763
      View Details
    • $250,000
      2.00 Acres

      Odessa Commercial Land - 2 Acres

      Prime 2-acre commercial/industrial lot. Excellent investment opportunity.
      2960 Fm 866, Odessa, TX 79763
      View Details
    • $250,000
      2.00 Acres

      Odessa, TX Commercial Land - 2 Acres

      Prime 2-acre commercial/industrial lot.
      2940 Fm 866, Odessa, TX 79763
      View Details
    • $1,500,000
      50.00 Acres

      Prime Odessa Land: 50 Acres at I-20 & FM 1053

      Exceptional Commercial Land, High-Traffic Intersection
      0 Odessa/Penwell, Odessa, TX 79763
      View Details
    • $2,300,000

      Prime Odessa Commercial Land

      27.74 acres, metal construction, $2.3M
      2451 Murphy St, Odessa, TX 79763
      View Details
    • $699,000
      6.00 Acres

      Odessa Commercial Land - 6 Acres

      Prime Ector County commercial land, 6 acres, power fenced.
      TBD2920 Fm 866, Odessa, TX 79763
      View Details

    Similar Nearby for Lease

    • $2 SF/Yr
      4,000 SF

      I-20 West Frontage Commercial Property

      Prime Odessa location, 4,000 sqft available.
      850 I-20, Odessa, TX 79763
      View Details
    • $10,000 /Mo
      1,216 SF

      Prime Land with Metal Building

      5 acres with building and I-20 visibility for lease.
      8220 W I-20 Service Rd, Odessa, TX 79763
      View Details
    • $1,200 /Mo
      23,958 SF

      Residential Lease Lot in Odessa

      Residential lease lot suitable for manufactured home in Odessa, TX.
      4033 W 10Th St, Odessa, TX 79763
      View Details
    • $3,500 /Mo

      2.5 Acres Caliche Yard

      2.5 acres of land with stabilized caliche yard.
      1114 Walther Rd, Odessa, TX 79763
      View Details
    • Contact for pricing
      5,000 SF

      Odessa Industrial Warehouse For Lease

      5,000 SF Warehouse, 2.4 Acres
      5228 I-20, Odessa, TX 79763
      View Details
    • $26 SF/Yr
      8,500 SF

      8,500 SF Retail Space

      Open shell space suitable for retail or service-oriented businesses.
      1801 Linda Ave, Odessa, TX 79763
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    42Nd St
    Odessa, TX 79763
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.