Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    415 N Grant Unit, Unit 04 Odessa, TX 79761

    • Office buildings
    • 11,500 SF
    • 0.28 lot acres
    For Lease
    View listing
    Last Sale
    May 07, 2025
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    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.

    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 Unit

    Year built
    1948
    Lot size
    0.28 lot acres
    Property size
    11,500 SF
    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 valuation — 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
      $2,140,000
      9,200 SF

      201 Pagewood Ave

      OFFICE BUILDING • 9,200 SF
      201 Pagewood Ave, Odessa, TX 79761-6100
      View Details
    • Value Estimation by Request
      1,050 SF

      544 Ryan Ave

      OFFICE BUILDING • 1,050 SF
      544 Ryan Ave, Odessa, TX 79761-4929
      View Details
    • Value Estimation by Request
      256 SF

      304 Texas Ave

      OFFICE BUILDING • 256 SF
      304 Texas Ave, Odessa, TX 79761-5551
      View Details
    • Value Estimation by Request
      1,222 SF

      2607 Golder Ave

      OFFICE BUILDING • 1,222 SF
      2607 Golder Ave, Odessa, TX 79761-1101
      View Details
    • Value Estimation
      $3,280,000
      16,257 SF

      1105 Grandview Ave

      OFFICE BUILDING • 16,257 SF
      1105 Grandview Ave, Odessa, TX 79761-7138
      View Details
    • Value Estimation by Request
      1,320 SF

      610 Grant Ave

      OFFICE BUILDING • 1,320 SF
      610 Grant Ave, Odessa, TX 79761-6302
      View Details

    Similar Nearby for Sale

    • $430,000
      2,275 SF

      Professional Office Building in Odessa

      Professional office building with flexible space for various business needs.
      1400 N Grandview Ave, Odessa, TX 79761
      View Details
    • $725,000
      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
    • $150,000
      5,620 SF

      Odessa Office Building For Sale

      Office building in Odessa, Texas, with redevelopment potential.
      800 S Jackson Ave, Odessa, TX 79761
      View Details
    • New
      $975,000
      9,055 SF

      Odessa Church with Updates

      9,055 SF church with recent updates and flexible spaces.
      2110 E 10Th St, Odessa, TX 79761
      View Details
    • $1,625,000
      42,000 SF

      Downtown Odessa Commercial Building

      Large commercial building with parking in downtown Odessa, Texas.
      619 N Grant Ave, Odessa, TX 79761
      View Details
    • $725,000
      4,698 SF

      Odessa Multi-Office Building For Sale

      Well-maintained commercial building in high-traffic area, suitable for various businesses.
      2479 11Th St, Odessa, TX 79761
      View Details

    Similar Nearby for Lease

    • $300 /Mo
      8,488 SF

      Office Space in Odessa, TX

      Conveniently located office space with prime access and spacious parking.
      1128 S Grandview Unit Office C12, Odessa, TX 79761
      View Details
    • $300 /Mo
      8,488 SF

      Office Space in Odessa, TX

      Office space for rent with convenient location and parking.
      1128 S Grandview Unit Office C11, Odessa, TX 79761
      View Details
    • $240 SF/Yr
      8,488 SF

      Office Space in Convenient Location

      Office space with prime access and spacious parking available for rent.
      1128 S Grandview Unit Office C4, Odessa, TX 79761
      View Details
    • $240 SF/Yr
      8,488 SF

      Office Space in Convenient Location

      Office space with prime access, essential services, and spacious parking.
      1128 S Grandview Unit Office B11, Odessa, TX 79761
      View Details
    • $240 SF/Yr
      8,488 SF

      Office Space in Convenient Location

      Office space with prime access to transportation and services.
      1128 S Grandview Unit Office C7, Odessa, TX 79761
      View Details
    • $240 SF/Yr
      8,488 SF

      Office Space in Convenient Location

      Office space with prime access and spacious parking available for rent.
      1128 S Grandview Unit Office C5, Odessa, TX 79761
      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.
    415 N Grant Unit, Unit 04
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!