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    1920 E 2Nd St Odessa, TX 79761
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    1920 E 2Nd St Odessa, TX 79761

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    • Office Units
    • 5,000 SF
    For Sale
    $200,000
    View Listing →
    Versatile Warehouse with Office Space For Sale
    $200,000
    5,000 SF

    Versatile Warehouse with Office Space

    5,000 sq ft warehouse with office and shop area.

    1920 E 2nd St, Odessa, TX 79761
    View Listing
    Property ID
    US82-2329794
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • TLR & Sons Hydraulic Services / General Contractor

    Property Details for 1920 E 2Nd St

    Year built
    1957
    Property size
    5,000 SF
    Property type
    Office Units
    Property subtype
    Warehouses

    Description

    5,000 sq ft. metal warehouse/shop on a nearly half-acre lot with a security fence. This versatile structure boasts a convenient layout featuring office space, a shop area, and a side exterior entrance. Positioned strategically with exceptional visibility on 2nd Street, complemented by city utilities for added convenience. This location ensures seamless connectivity to major thoroughfares including I-20, HWY 80, and Midland. This property presents limitless potential for a variety of endeavors.

    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
    -102.345303
    Latitude
    31.855799

    Comparable in this City

    • $595,000
      14,830 SF

      Industrial Property with Three Buildings

      14,830 SF industrial property on 3.4 acres for sale.
      302 Industrial Ave, Odessa, TX 79761
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    • $1,995,000
      22,095 SF

      Renovated Warehouse with Cranes, Wash-Bay

      Renovated warehouse with heavy power, cranes, and expansion space.
      1551 Laredo Dr, Odessa, TX 79761
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    • $200,000
      5,000 SF

      Versatile Warehouse/Shop on Half-Acre Lot

      5,000 sq ft warehouse/shop with office space and security fence.
      1920 E 2Nd St, Odessa, TX 79761
      View Details
    • Contact for pricing
      6,477 SF

      Versatile Commercial Property on Large Lot

      6,477 sq ft commercial space on 3.61 acres.
      2608 E Pearl St, Odessa, TX 79761
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    • $1,500,000
      20,382 SF

      Office/Warehouse Space with Railroad Access

      Office and warehouse space with convenient I-20 and railroad access.
      521 S Grandview Ave, Odessa, TX 79761
      View Details
    • $1,500,000
      36,050 SF

      Versatile Commercial Property in Odessa, TX

      36,000+ SF on 2.54 acres, ideal for retail/distribution.
      714 E 2Nd St, Odessa, TX 79761
      View Details

    Similar Nearby for Sale

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      3,193 SF

      Odessa Flex Space Opportunity

      3,193 SF flex space with office and warehouse.
      1903 E 6Th St, Odessa, TX 79761
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    • $750,000
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      Industrial Building with Crane

      Spacious warehouse with offices, crane, and flexible options.
      2725 N Golder Ave, Odessa, TX 79761
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    • Contact for pricing
      6,477 SF

      Versatile Commercial Property on Large Lot

      6,477 sq ft commercial space on 3.61 acres.
      2608 E Pearl St, Odessa, TX 79761
      View Details
    • $1,500,000
      20,382 SF

      Office/Warehouse Space with Railroad Access

      Office and warehouse space with convenient I-20 and railroad access.
      521 S Grandview Ave, Odessa, TX 79761
      View Details
    • $1,500,000
      36,050 SF

      Versatile Commercial Property in Odessa, TX

      36,000+ SF on 2.54 acres, ideal for retail/distribution.
      714 E 2Nd St, Odessa, TX 79761
      View Details
    • $1,995,000
      22,095 SF

      Renovated Warehouse with Cranes, Wash-Bay

      Renovated warehouse with heavy power, cranes, and expansion space.
      1551 Laredo Dr, Odessa, TX 79761
      View Details

    Similar Nearby for Lease

    • $12,000 /Mo
      36,050 SF

      Versatile Commercial Space in Odessa, TX

      36,000+ SF on 2.54 acres, ideal for retail/distribution.
      714 E 2Nd St, Odessa, TX 79761
      View Details
    • $3,000 /Mo
      4,000 SF

      Odessa Flex Space Available

      4,000 SF flex building available for lease January 1st, 2025.
      1810 N Lee Ave, Odessa, TX 79761
      View Details
    • Contact for pricing
      35,010 SF

      Odessa Warehouse with Office Space

      35,010 SF warehouse with office and service bays for lease.
      1510 E 2Nd St, Odessa, TX 79761
      View Details
    • $6 SF/Yr
      20,800 SF

      302 Industrial Ave., Odessa, TX, 79761

      Distribution centers • 3.53 Acres
      302 Industrial Ave, Odessa, TX 79761
      View Details
    • $13,950 /Mo
      22,095 SF

      Odessa Warehouse Near Grandview

      Warehouse space with easy access to major thoroughfares.
      1551 Laredo Dr, Odessa, TX 79761
      View Details
    • $300 /Mo
      8,488 SF

      Office Space in Convenient Location

      Office space for rent with prime access and spacious parking.
      1128 S Grandview Ave, Odessa, TX 79761
      View Details
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    Odessa, TX 79761
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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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