2506 Andrews Hwy Odessa, TX 79761-1123

Property Details for 2506 Andrews Hwy

Year built

2003

Lot size

0.66 lot acres

Property size

7,892 SF

Zone code

EE1

Property type

Commercial real estate

APN

12300.00152.00000

APU

123000015200000

Description

This exceptional investment opportunity presents a fee-simple ownership of a 7,892 square foot Family Dollar shopping center in Odessa, Texas. Located at 2506 Andrews Hwy, 79761, this single-tenant property boasts a strong 9.0% cap rate and a substantial net operating income (NOI) of $59,504. The property features a triple-net (NNN) lease with limited landlord responsibilities, encompassing only roof and parking lot maintenance. The current lease term extends to December 30, 2026, with 2.1 years remaining, followed by four 5-year lease options with rent bumps. Built in 2003 on a 0.66-acre lot, this well-maintained building benefits from its location near Odessa College, New Tech Odessa High School, and numerous other schools, retailers, and apartments, contributing to high traffic volume. The property's strategic placement near a highly trafficked intersection with a combined daily vehicle count exceeding 45,000 further enhances its appeal. The densely populated 5-mile radius, home to over 112,100 residents, ensures a consistent customer base for the tenant. This is a rare opportunity to acquire a stable, high-performing retail investment with significant upside potential. The asking price is $661,150, translating to a price per square foot of $83.77. The property's 100% occupancy and long-term lease provide exceptional security and predictable cash flow for investors.

Location Insight

City

Odessa

County

Ector

State

Texas

Longitude

-102.38

Latitude

31.8674

CBSA code

36220

CBSA name

ODESSA, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments