Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    42Nd St Odessa, TX 79764

    Property Lookup

    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    42Nd St Odessa, TX 79764

    View on Map
    • Land
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 0 42Nd St

    Property type
    Land
    Property subtype
    Industrial properties

    Description

    This exceptional opportunity presents two prime lots within the Odessa West Industrial Park, ideally situated on West 42nd Street in Odessa, Texas, zip code 79764. The available lots offer convenient access to major transportation arteries, including Interstate 20 (a quick 5.5 miles north) and Highway 866, providing seamless connectivity to both Odessa and surrounding areas like Delaware and Reeves Counties. Lot 6 encompasses 3 acres, while Lot 10 offers 5 acres of land. Both lots are already improved with rock and fencing, minimizing initial site preparation costs. While power is currently TBD, it is planned for installation. The property's strategic location, just 4 miles south of the Kermit Highway, ensures easy access to parts, supplies, and a skilled workforce. This is a rare chance to secure land in a thriving industrial area with excellent infrastructure and accessibility. The zoning is currently unlisted. This property is perfect for businesses seeking a strategic location for expansion or new development in the Odessa, Texas market. The lots are suitable for a variety of industrial uses.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Odessa
    County
    Ector
    State
    Texas
    Longitude
    -102.552
    Latitude
    31.8442

    Comparable in this City

    • Value Estimation by Request
      147.00 Acres

      42Nd St

      Land • 147.00 Acres
      0 42Nd St, Odessa, TX 79764
      View Details
    • Value Estimation by Request
      17.53 Acres

      Westcliff Rd

      Land • 17.53 Acres
      0 Westcliff Rd, Odessa, TX 79764
      View Details
    • Value Estimation by Request
      2.59 Acres

      Bucknell Ave

      Land • 2.59 Acres
      0 Bucknell Ave, Odessa, TX 79764
      View Details
    • Value Estimation by Request
      0.59 Acres

      2707 Pacific Dr

      Land • 0.59 Acres
      2707 Pacific Dr, Odessa, TX 79764
      View Details
    • Value Estimation by Request
      12.00 Acres

      5450 Fm 866

      Land • 12.00 Acres
      5450 Fm 866, Odessa, TX 79764
      View Details
    • Value Estimation by Request
      11,200 SF

      2725 Golder Ave

      Distribution properties • 11,200 SF
      2725 Golder Ave, Odessa, TX 79764
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,800 SF

      Industrial Land with Shop Building

      Land with 2800 SF shop building available for sale.
      5507 Golder Ave, Odessa, TX 79764
      View Details
    • $1,000,000
      6,000 SF

      6000 SF Shop on 4.74 Acres

      6000 SF shop with office on 4.74 acres.
      14055 W 52Nd St, Odessa, TX 79764
      View Details
    • $750,000
      30.00 Acres

      30 Acres on N Westcliff

      30 acres of land suitable for various commercial uses.
      N Westcliff Rd, Odessa, TX 79764
      View Details
    • $79,900
      0.50 Acres

      Half-Acre Lot in Odessa, TX

      Half-acre lot with utilities, suitable for residential or commercial use.
      -29 N Moss Ave, Odessa, TX 79764
      View Details
    • $65,000
      0.54 Acres

      Land For Sale, Odessa, TX

      Land available in Odessa, Texas, close to city amenities.
      W Riggs Dr, Odessa, TX 79764
      View Details

    Similar Nearby for Lease

    • $2,300 /Mo
      1,680 SF

      Industrial Property Ready For Lease

      Two-building industrial property with yard, ready for immediate lease.
      16319 W 39Th St, Odessa, TX 79764
      View Details
    • $6,250 /Mo
      217,800 SF

      Odessa Industrial Park Land Lease

      Lease lots in Odessa West Industrial Park, various sizes.
      W 42Nd St, Odessa, TX 79764
      View Details
    • Contact for pricing

      Odessa Industrial Facility with Cranes

      Industrial warehouse with cranes and yard for lease in Odessa.
      4519 Brazos Ave, Odessa, TX 79764
      View Details
    • $5,500 /Mo
      5,025 SF

      Odessa Warehouse with Crane

      5,025 SF warehouse with crane for lease.
      5012 Wright Ave, Odessa, TX 79764
      View Details
    • $13,000 /Mo
      10,100 SF

      Odessa Commercial Flex Space

      Commercial lease with office and shop space in Odessa, TX.
      2107 W 83Rd St, Odessa, TX 79764
      View Details
    • $5,500 /Mo
      5,000 SF

      Versatile Commercial Space in Odessa

      Office and shop space with ample parking in prime location.
      Odessa, TX 79764
      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 79764
    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!