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

    1529 2nd St Odessa, TX 79761-5306

    • Office buildings
    • 1,430 SF
    • 4.12 lot acres
    OFF-MARKET
    Value Estimations
    $365,000
    Show details
    Cap Rate Potential
    4.6%
    Office buildings
    Location Intelligence
    Property ID
    US82-2111238
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Ron Hoover RV & Marine of Odessa / Rv Supply Store / Rv Dealer

    Property Details for 1529 2nd St

    Year built
    1992
    Lot size
    4.12 lot acres
    Property size
    1,430 SF
    Zone code
    EE2
    Property type
    Office buildings
    APN
    27750.03352.00000
    APU
    277500335200000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $440,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $340,000
      6.5%
      $310,000
      7%
      $290,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $352,000
      Market price range: $121k - $353k

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

    Location Insight

    • Map
    • Local Demand
    City
    Odessa
    County
    Ector
    State
    Texas
    Longitude
    -102.351
    Latitude
    31.8547
    CBSA code
    36220
    CBSA name
    ODESSA, TX METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $22,319
    $534,722
    $523,955
    $1,058,677
    -
    $534,722
    $523,955
    $1,058,677

    Comparable in this City

    • Value Estimation
      $265,000
      1,073 SF

      1930 8th St

      OFFICE BUILDING • 1,073 SF
      1930 8th St, Odessa, TX 79761-4812
      View Details
    • Value Estimation
      $540,000
      4,836 SF

      208 Lincoln Ave

      OFFICE BUILDING • 4,836 SF
      208 Lincoln Ave, Odessa, TX 79761
      View Details
    • Value Estimation
      $970,000
      54,349 SF

      2525 Grandview Ave

      OFFICE BUILDING • 54,349 SF
      2525 Grandview Ave, Odessa, TX 79761-1600
      View Details
    • Value Estimation
      $715,000
      12,852 SF

      2525 Trunk St

      OFFICE BUILDING • 12,852 SF
      2525 Trunk St, Odessa, TX 79761-2164
      View Details
    • Value Estimation
      $560,000
      8,652 SF

      2626 John Ben Shepperd Pkwy

      OFFICE BUILDING • 8,652 SF
      2626 John Ben Shepperd Pkwy, Odessa, TX 79761-1958
      View Details
    • Value Estimation
      $490,000
      2,100 SF

      4600 Oakwood Dr

      OFFICE BUILDING • 2,100 SF
      4600 Oakwood Dr, Odessa, TX 79761-2301
      View Details

    Similar Nearby for Sale

    • $225,000
      5,620 SF

      Odessa Office Building For Sale

      Office building in Odessa, TX, with redevelopment potential.
      800 S Jackson Ave, Odessa, TX 79761
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    • $490,000
      5,400 SF

      Downtown Odessa Office Building

      5,400 SF office building in downtown Odessa, TX.
      422 N Grant Ave, Odessa, TX 79761
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    • $1,625,000
      42,000 SF

      Prime Downtown Office Building

      Office building with parking in a high-traffic downtown location.
      619 N Grant Ave, Odessa, TX 79761
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    • $1,625,000
      42,000 SF

      Downtown Odessa Commercial Building

      Large commercial building with parking in downtown Odessa, Texas.
      619 N Grant Ave, Odessa, TX 79761
      View Details
    • $10,000,000
      152,420 SF

      Odessa Office Building For Sale

      Office building with 152,420 square feet of space.
      N Grant Ave, Odessa, TX 79761
      View Details
    • $1,200,000
      8,130 SF

      Premier Odessa Office Building

      Versatile office building in a prime Odessa location.
      809 Tower Dr, Odessa, TX 79761
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    Similar Nearby for Lease

    • $17 SF/Yr
      750 SF

      Office Space For Rent

      750 square feet office space available for lease.
      2626 John Ben Shepperd Pkwy, Odessa, TX 79761
      View Details
    • Contact for pricing
      16,000 SF

      Office Spaces in Golden Oak

      Multiple office spaces available for lease in Odessa, Texas.
      415 N Grant Unit, Odessa, TX 79761
      View Details
    • $300 /Mo
      8,488 SF

      Office Space in Odessa, TX

      Office space for rent with prime location and parking.
      1128 S Grandview Unit Office C15, Odessa, TX 79761
      View Details
    • Contact for pricing
      16,000 SF

      Office Spaces For Lease

      Multiple office spaces available in Odessa, Texas.
      415 N Grant Unit, Odessa, TX 79761
      View Details
    • $300 /Mo
      8,488 SF

      Office Space in Odessa, TX

      Conveniently located office space with prime access and spacious parking.
      1128 S Grandview Unit Office C12, Odessa, TX 79761
      View Details
    • $2,500 /Mo
      14,000 SF

      Office Space in Odessa, TX

      Office space for rent in a coveted Odessa location.
      2114 N Jackson Ave, Odessa, TX 79761
      View Details
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    1529 2nd St
    Odessa, TX 79761-5306
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    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
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