Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    3205 Kermit Hwy Odessa, TX 79764
    Property profile & analytics

    3205 Kermit Hwy Odessa, TX 79764

    View on Map
    • Office buildings
    • 23,966 SF
    • 1.80 lot acres
    For Sale
    $2,000,000
    View Listing →
    Fully Leased Odessa Office Building For Sale
    $2,000,000
    23,966 SF

    Fully Leased Odessa Office Building

    23,966 SF office building with stable cash flow.

    3205 Kermit Hwy, Odessa, TX 79764
    View Listing
    Property ID
    US82-3960133
    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

    • A-1 Construction Co Inc / Construction Company
    • New Era Electrical and Instrumentation / Electrical Service / General Contractor
    • Black Lotus Property Group / Real Estate Agency
    • Prospects Hotshot Llc / Freight Service / Logistics Company
    • Lashes N Vain / Hair Salon

    Property Details for 3205 Kermit Hwy

    Year built
    1977
    Lot size
    1.80 lot acres
    Property size
    23,966 SF
    Zone code
    EB1
    Property type
    Office buildings
    APN
    13600.01860.00000
    APU
    136000186000000

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $5,670,000
      6.5%
      $5,235,000
      7%
      $4,860,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $3,910,000
      Market price range: $3.91M - $9.82M

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

    Location Insight

    • Map
    • Local Demand
    City
    Odessa
    County
    Ector
    State
    Texas
    Longitude
    -102.4
    Latitude
    31.8678
    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
    $20,028
    $116,816
    $833,184
    $950,000
    -
    $116,816
    $833,184
    $950,000

    Comparable in this City

    • Value Estimation by Request
      216 SF

      2500 42nd St

      OFFICE BUILDING • 216 SF
      2500 42nd St, Odessa, TX 79764-6311
      View Details
    • Value Estimation
      $2,970,000
      12,604 SF

      4313 County W Rd

      OFFICE BUILDING • 12,604 SF
      4313 County W Rd, Odessa, TX 79764
      View Details
    • Value Estimation
      $6,380,000
      33,428 SF

      3016 Kermit Hwy

      OFFICE BUILDING • 33,428 SF
      3016 Kermit Hwy, Odessa, TX 79764-7307
      View Details
    • Value Estimation by Request
      900 SF

      3722 Kermit Hwy

      OFFICE BUILDING • 900 SF
      3722 Kermit Hwy, Odessa, TX 79764-6433
      View Details
    • Value Estimation by Request
      600 SF

      3805 Brazos Ave

      OFFICE BUILDING • 600 SF
      3805 Brazos Ave, Odessa, TX 79764-6523
      View Details
    • Value Estimation by Request
      360 SF

      5003 Wright Ave

      OFFICE BUILDING • 360 SF
      5003 Wright Ave, Odessa, TX 79764-4152
      View Details

    Similar Nearby for Sale

    • $2,772,880
      12,604 SF

      Spacious Office with Residential Apartment

      12,604 SF office with apartment and covered parking.
      4313 N County Rd W, Odessa, TX 79764
      View Details
    • $2,000,000
      23,966 SF

      Fully Leased Odessa Office Building

      23,966 SF office building with stable cash flow.
      3205 Kermit Hwy, Odessa, TX 79764
      View Details
    • $1,400,000
      12,450 SF

      Odessa Office/Warehouse on 3.5 Acres

      12,450 sq ft office/warehouse on 3.5 acres in Odessa.
      5800 N Moss Ave, Odessa, TX 79764
      View Details
    • $1,850,000
      7,500 SF

      Spacious Office and Mechanic Shop

      Furnished office with mechanic shop, camp, and large parking.
      3670 N Moss Ave, Odessa, TX 79764
      View Details
    • $1,400,000
      12,450 SF

      Odessa Office/Warehouse on 3.5 Acres

      12,450 sq. ft. office/warehouse on 3.5 acres.
      5800 N Moss Ave, Odessa, TX 79764
      View Details
    • $565,990
      4,086 SF

      Prime Odessa Office Building

      Spacious Office, High Traffic Area
      1221 University Blvd, Odessa, TX 79764
      View Details

    Similar Nearby for Lease

    • $13,000 /Mo
      10,100 SF

      Odessa Commercial Flex Space

      Commercial lease with office and shop space in Odessa, TX.
      2107 W 83Rd St, Odessa, TX 79764
      View Details
    • Contact for pricing

      Odessa Flex Space For Rent

      10,505 SF flex space on 1.41 acres available for rent.
      9054 W University Blvd, Odessa, TX 79764
      View Details
    • $2,366 /Mo
      650 SF

      Office Space in Odessa, TX

      Office units available for lease in Odessa, Texas.
      10700 W 42Nd St, Odessa, TX 79764
      View Details
    • $5,500 /Mo
      5,000 SF

      Versatile Commercial Space in Odessa

      Office and shop space with ample parking in prime location.
      Odessa, TX 79764
      View Details
    • Contact for pricing

      Renovated Warehouse with High Ceilings

      52,810 SF warehouse with remodeled office space for lease.
      8800 Tx-338 Loop, Odessa, TX 79764
      View Details
    • Contact for pricing

      Odessa Industrial Facility with Cranes

      Industrial warehouse with cranes and yard for lease in Odessa.
      4519 Brazos Ave, Odessa, TX 79764
      View Details
    View Listing
    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.
    3205 Kermit Hwy
    Odessa, TX 79764
    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

    Thank You for Inquiry
    3205 Kermit Hwy, Odessa, TX, 79764
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!