4060 Faudree Rd Odessa, TX 79765
Property Lookup
Property profile & analytics
4060 Faudree Rd Odessa, TX 79765
- Strip malls
- 21,044 SF
- 1.89 lot acres
Property ID
US83-0103481
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.
Location Intelligence
Current Use by Public Records
- Body Recovery Lounge / Gym & Fitness Center / Alternative Medicine Practice
- The UPS Store / Courier Service / Postal Service
- Beauty By Brooklynn / Hair Salon / Nail Salon
- Dorado Pharmacy / Pharmacy
- GiF Services, LLC / Construction Company / Renovation Specialist
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
- Shopping 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.
Value Estimations
based on Realmo’s proprietary methodology
-
Alternative Use
- Use
- Estimation
- NEIGHBORHOOD: SHOPPING CENTER
- $1,035,000 Current use
- RETAIL STORES
- $2,065,000 Change: +100% Conversion: Easy
- COMMERCIAL (GENERAL)
- $1,905,000 Change: +84% Conversion: Easy
- MEDICAL BUILDING
- $1,585,000 Change: +53% Conversion: Difficult
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Location Insight
- Map
- Local Demand
- 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
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
$63,997
$699,985
$2,335,637
$3,035,622
-
$699,985
$2,335,637
$3,035,622
