Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    415 N Grant Ave Odessa, TX 79761
    Back to Search
    Property profile & analytics

    415 N Grant Ave, Odessa, TX 79761

    View on Map
    • Office buildings
    • 11,500 SF
    • 0.28 lot acres
    For Lease
    $1,445,000
    View Listing →
    Office Spaces Available For Lease For Lease
    $1,445,000
    16,000 SF

    Office Spaces Available For Lease

    Multiple office spaces available for lease in Odessa, Texas.

    415 N Grant, Odessa, TX 79761
    View Listing
    Property ID
    US82-3925034
    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

    • Ease Web Development / Marketing & Advertising / (Bike/Boat/Book/etc) Store
    • The Copper Rose / Music Venue / Bar & Pub
    • Odessa Arts / Theater & Performing Art Venue
    • The craft shop / (Bike/Boat/Book/etc) Store
    • WARP ZONE / (Bike/Boat/Book/etc) Store / Arcade & Gaming Center

    Property Details for 415 N Grant Ave

    Year built
    1948
    Lot size
    0.28 lot acres
    Zone code
    EE1
    Property type
    Office buildings
    APN
    22000.01435.00000
    APU
    220000143500000

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,243,000
      Market price range: $975k - $2.84M

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

    Location Insight

    • Map
    • Local Demand
    City
    Odessa
    County
    Ector
    State
    Texas
    Longitude
    -102.37
    Latitude
    31.8479
    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
    $22,373
    $54,386
    $1,006,878
    $1,061,264
    -
    $54,386
    $1,006,878
    $1,061,264

    Comparable in this City

    • Value Estimation by Request
      276 SF

      4641 Oakwood Dr

      OFFICE BUILDING
      4641 Oakwood Dr, Odessa, TX 79761-2052
      View Details
    • Value Estimation by Request
      420 SF

      640 Grandview Ave

      OFFICE BUILDING
      640 Grandview Ave, Odessa, TX 79761-4940
      View Details
    • Value Estimation by Request
      3,064 SF

      1301 Grant Ave

      OFFICE BUILDING
      1301 Grant Ave, Odessa, TX 79761-3848
      View Details
    • Value Estimation by Request
      312 SF

      600 Dixie Blvd

      OFFICE BUILDING
      600 Dixie Blvd, Odessa, TX 79761-4735
      View Details
    • Value Estimation by Request
      1,750 SF

      707 Jefferson Ave

      OFFICE BUILDING
      707 Jefferson Ave, Odessa, TX 79761-4620
      View Details
    • Value Estimation by Request
      1,386 SF

      2311 2nd St

      OFFICE BUILDING
      2311 2nd St, Odessa, TX 79761-4911
      View Details

    Similar Nearby for Sale

    • $875,000
      9,055 SF

      Well-Maintained Church in Odessa, TX

      9,055 SF church suitable for various commercial uses.
      2110 E 10Th St, Odessa, TX 79761
      View Details
    • New
      $1,625,000
      42,000 SF

      Prime Downtown Location with Parking

      Former bank building with drive-thru and ample parking.
      619 N Grant Ave, Odessa, TX 79761
      View Details
    • $549,000
      3,856 SF

      Odessa Commercial Property Near Hospital

      Versatile commercial property in high-traffic area near downtown and hospital.
      401 E 7Th St, Odessa, TX 79761
      View Details
    • Contact for pricing
      4,698 SF

      Multi-Office Building in High-Traffic Area

      Well-maintained commercial building with multiple office suites for sale.
      2479 11Th St, Odessa, TX 79761
      View Details
    • New
      $1,625,000
      42,000 SF

      Former Bank Building with Parking

      Former bank building with drive-thru and ample parking.
      619 N Grant Ave, Odessa, TX 79761
      View Details
    • New
      $430,000
      2,275 SF

      Professional Office Building, Odessa, TX

      Professional office building in a convenient location with flexible space.
      1400 N Grandview Ave, Odessa, TX 79761
      View Details

    Similar Nearby for Lease

    • $230 SF/Yr
      8,488 SF

      Office Space in Convenient Location

      Office space with prime access, services, and spacious parking.
      1128 S Grandview Ave, Odessa, TX 79761
      View Details
    • $300 /Mo
      8,488 SF

      Office Space in Convenient Location

      Office space with prime access, essential services, and spacious parking.
      1128 S Grandview Ave, Odessa, TX 79761
      View Details
    • $300 /Mo
      8,488 SF

      Office Space in Convenient Location

      Office space with prime access, essential services, and spacious parking.
      1128 S Grandview Ave, Odessa, TX 79761
      View Details
    • $4,200 /Mo
      4,499 SF

      Commercial Office Space in Odessa

      Prime office space with convenient parking in a growing market.
      1102 S Grandview Ave, 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 Ave, Odessa, TX 79761
      View Details
    • $230 SF/Yr
      8,488 SF

      Office Space in Convenient Location

      Office space with prime access, essential services, spacious parking.
      1128 S Grandview Ave, Odessa, TX 79761
      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.
    415 N Grant Ave
    Odessa, TX 79761
    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
    415 N Grant Ave, Odessa, TX, 79761
    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!