4060 Faudree Rd Odessa, TX 79765

Property Details for 4060 Faudree Rd

Year built

2016

Lot size

1.89 lot acres

Property size

21,044 SF

Zone code

EF8

Property type

Strip malls

Property subtype

Neighborhood centers

APN

04450.00050.00000

APU

44500005000000

Description

This exceptional investment opportunity presents a stabilized, multi-tenant shopping center totaling 20,803 square feet, situated on a 2.49-acre lot at 4060 Faudree Rd, Odessa, TX 79765. Built in 2016, this single-story building boasts 100% occupancy across nine tenants, providing immediate and consistent cash flow. The property benefits from built-in annual rental escalations and offers significant long-term upside potential through rental appreciation. Located on a primary Odessa artery (TX 588), the center enjoys high visibility with a pylon sign and benefits from daily traffic exceeding 18,000 cars. Its strategic location adjacent to Odessa Country Club Pines Course and affluent neighborhoods ensures a strong, stable tenant base. The diverse tenant mix features service-oriented, internet-resistant businesses, catering to the rapidly expanding residential trade area. Projected population growth within a three-mile radius exceeds 22% over the next five years, and 31% within one mile. The property's proximity to over 2,580 multifamily units and 820 hotel rooms within a one-mile radius, coupled with Odessa's thriving economy (oil and gas, manufacturing, solar energy, and aerospace), creates a robust demand for services. This value-add opportunity allows a future owner to capitalize on the high demand and improve the tenant mix or capture improving market rents, as two-thirds of current tenants have no remaining options. The property's high parapet walls and convenient access to Hwy 191 and Interstate 20 further enhance its appeal. Purchase this asset well below replacement cost and benefit from a strong employment hub with a daytime population of 56,000 within a five-mile radius.

Location Insight

City

Odessa

County

Ector

State

Texas

Longitude

-102.288

Latitude

31.916

CBSA code

36220

CBSA name

ODESSA, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments