Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    308 University Blvd Odessa, TX 79762-7676

    Property Lookup

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

    308 University Blvd Odessa, TX 79762-7676

    View on Map
    • Retail space
    • 2,200 SF
    • 0.06 lot acres
    Off-Market
    Property ID
    US82-2834349
    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

    • La Toreada Taco House / Restaurant
    • WineBrew22 / Bar & Pub
    • taco 16th street UNIVERSITY / Restaurant
    • Security Finance / Loan Service

    Property Details for 308 University Blvd

    Year built
    1950
    Lot size
    0.06 lot acres
    Property size
    2,200 SF
    Zone code
    EE1
    Property type
    Retail space
    APN
    15400.00270.00000
    APU
    154000027000000

    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
    -102.378
    Latitude
    31.8687
    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
    $1,330
    $8,128
    $54,963
    $63,091
    -
    $8,128
    $54,963
    $63,091

    Comparable in this City

    • Value Estimation
      $1,560,000
      14,740 SF

      4212 Preston Smith Rd

      RETAIL STORES (PERSONAL SERVICES) • 14,740 SF
      4212 Preston Smith Rd, Odessa, TX 79762-5242
      View Details
    • Value Estimation by Request
      4,020 SF

      2901 Grandview Ave

      RETAIL STORES (PERSONAL SERVICES) • 4,020 SF
      2901 Grandview Ave, Odessa, TX 79762-6935
      View Details
    • Value Estimation by Request
      2,400 SF

      2712 Dixie Blvd

      RETAIL STORES (PERSONAL SERVICES) • 2,400 SF
      2712 Dixie Blvd, Odessa, TX 79762-7661
      View Details
    • Value Estimation
      $580,000
      9,792 SF

      3101 Andrews Hwy

      RETAIL STORES (PERSONAL SERVICES) • 9,792 SF
      3101 Andrews Hwy, Odessa, TX 79762-7520
      View Details
    • Value Estimation by Request
      1,746 SF

      5721 Andrews Hwy

      RETAIL STORES (PERSONAL SERVICES) • 1,746 SF
      5721 Andrews Hwy, Odessa, TX 79762-3657
      View Details
    • Value Estimation
      $1,085,000
      9,444 SF

      2115 42nd St

      RETAIL STORES (PERSONAL SERVICES) • 9,444 SF
      2115 42nd St, Odessa, TX 79762-5842
      View Details

    Similar Nearby for Sale

    • $700,000
      1.03 Acres

      Commercial Land on JBS Parkway

      High-traffic commercial land suitable for retail, restaurant, office, service industry.
      5230 Jbs Pkwy, Odessa, TX 79762
      View Details
    • $3,000,000
      11,896 SF

      Odessa Freestanding Building on Andrews

      11,896 SF building on 1.005 acres, high-traffic location.
      3636 Andrews Hwy, Odessa, TX 79762
      View Details
    • Contact for pricing
      6,290 SF

      Leased Retail Outparcel For Sale

      Fully leased retail outparcel with long-term tenants.
      5011 E 42Nd St, Odessa, TX 79762
      View Details
    • Contact for pricing
      11,896 SF

      Freestanding Building on Andrews Highway

      Value-add opportunity with high traffic and flexible uses.
      3636 Andrews Hwy, Odessa, TX 79762
      View Details
    • $1,400,000
      1,728 SF

      High-Traffic Retail/Auto Shop Opportunity

      Retail or auto shop space with high traffic exposure.
      4200 Andrews Hwy, Odessa, TX 79762
      View Details
    • Contact for pricing
      510 SF

      New Drive-Thru Investment Opportunity

      New construction drive-thru coffee shop with long-term NNN lease.
      3838 Andrews Hwy, Odessa, TX 79762
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      5,055 SF

      Retail Space Near HEB Grocery

      Retail space available near HEB Grocery at Odessa Loop.
      3001 W University Blvd, Odessa, TX 79762
      View Details
    • Contact for pricing

      Office Center in Medical Corridor

      Office spaces available in high-demand commercial area.
      4222 Wendover Ave, Odessa, TX 79762
      View Details
    • Contact for pricing

      Odessa Shopping Center Retail Space

      148,000 SF shopping center with retail and office spaces.
      2711 N Grandview Ave, Odessa, TX 79762
      View Details
    • Contact for pricing

      Retail/Office Space For Lease

      Versatile space suitable for retail, office, or food-related businesses.
      2233 E 52Nd St, Odessa, TX 79762
      View Details
    • Contact for pricing

      Large Customizable Office/Retail Space

      Customizable office/retail space in a thriving commercial corridor.
      4044 Penbrook St, Odessa, TX 79762
      View Details
    • $8 SF/Yr
      10,756 SF

      Retail Storefront with Warehouse Space

      Retail storefront with warehouse, fenced yard, high-traffic location.
      305 E University Blvd, Odessa, TX 79762
      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.
    308 University Blvd
    Odessa, TX 79762-7676
    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!