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Property profile & analytics
OFF-MARKET
Estimated value
$960,000
Medical Office Space
500 4th St Odessa, TX 79761-5110
Entity Owned
7-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US82-2030316
Property summary
AI-generated overview
This exceptional 2,764 square foot medical office suite is available for lease in Odessa, Texas. Located at 500 E 4th St, 79761, this single-tenant space is situated on a 2.06-acre lot within a two-building, one-story complex built in 2000. The suite boasts a convenient South Entrance location with easy parking access. An adjacent 4,888 square foot ambulatory center is also available for lease. Interior features include a well-appointed kitchen, an oversized conference room, and a restroom. The executive office is particularly noteworthy, featuring wooden baseboards and shutters, a coat closet, floor-to-ceiling built-ins, a large sitting area with faux wood vinyl laminate flooring, and a distinct library-like ambiance. Three additional carpeted offices provide ample space for staff or various functions. The property is zoned for Light Commercial use, making it ideal for a variety of medical or professional practices. This turnkey space offers immediate occupancy and is ready for your business to thrive.
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2000
Total area
13,045 SF
Lot
2.07 ac (89,995 SF)
Zoning code
EE1
APN
22000.04370.00000
UPID
US82-2030316
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Medical Center Hospital Speech Physician
-
Fresenius Medical Care at Odessa Regional Medical Center Hospital
-
MCH Volunteer Services Volunteer Organization Charitable Organization
-
Dr. Errol C. Anderson, MD Physician Medical Clinic
-
Dr. Meghana R. Gillala, MD Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$635k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.28M
Blend (final)
Blend
$960k
Owner & transaction history
Quiroz Holdings LP · 7 yrs held
Quiroz Holdings LP
since 2019
7 recorded transactions
Zoning & alternative use
EE1 · Odessa, TX
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.4M
+49.2%
Retail stores
$1.3M
+37.1%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Odessa submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Odessa submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
$635,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$965,000
Current use
COMMERCIAL (GENERAL)
$1,440,000
Change: +49% · Conversion: Easy
RETAIL STORES
$1,325,000
Change: +37% · Conversion: Difficult
Blend value · Realmo final
$960k
Range $864k – $1.06M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$74 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$71,095
Tax year 2023
Assessed value
$3,372,353
Assessed 2023
Previous assessed
$3,372,353
+0.0% YoY
Effective rate
2.11%
On assessed value
Assessed land
$306,900
Assessed improvement
$3,065,453
Land market value
$306,900
Improvement market value
$3,065,453
Total market value
$3,372,353
Applied tax rate
8.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2000
Heating
NONE
Buildings
2
Stories
1
Total area
13,045 SF
Lot
2.07 ac (89,995 SF)
Zoning code
EE1
APN
22000.04370.00000
UPID
US82-2030316
Jurisdiction
ECTOR
Zoning & alternative use
EE1 · Odessa, TXZoning EE1 · permitted uses
EE1 · Odessa, TX
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$965,000
COMMERCIAL (GENERAL)
Est. value
$1.4M
RETAIL STORES
Est. value
$1.3M
MEDICAL BUILDING Current
COMMERCIAL (GENERAL)
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2000
Heating
NONE
Stories
1
Buildings
2
Lot
2.07 ac
Current owner
From public records · entity-resolved
Quiroz Holdings LP
Entity
Mailing address
42 SUNNYGROVE DR, ODESSA, TX 79761-2229
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
18 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 2, 2021
—
Quiroz Holdings LP
—
Deed
related
$2,196,138 · Truist Bank
Jun 27, 2019
—
Quiroz Holdings LP
Gadasalli Rental Ptshp Ltd
Warranty Deed
related
$495,000 · Gadasalli Rental Ptshp Ltd
Oct 5, 2016
—
Gadasalli Rental Ptshp Ltd
—
Deed
related
$2,148,324 · Aimbank
Apr 3, 2013
—
Gadasalli Rental Ptshp Ltd
—
Deed Of Trust
related
$3,400,000 · Aimbank
Oct 8, 2009
—
Gadasalli Rental Ptshp Ltd
—
Trustees Deed
related
$500,000 · American State Bank
—
—
Gadasalli Rental Ptshp Ltd
—
Deed Of Trust
related
$236,000 · American State Bank
—
—
Gadasalli Rental Ptshp Ltd
—
Loan Modification
related
$2,148,324 · Aimbank
—
—
Gadasalli Rental Ptshp Ltd
—
Loan Modification
related
$245,000 · American State Bank
—
—
Suresh N Gadasalli Md Pa
—
Loan Modification
related
$835,517 · American State Bank
—
—
Gadasalli Rental Ptshp Ltd
—
Loan Modification
related
$250,000 · American State Bank
—
—
Suresh N Gadasalli
—
Loan Modification
related
$835,517 · American State Bank
—
—
Gadasalli Rental Ptshp Ltd
—
Loan Modification
related
$245,000 · American State Bank
—
—
Suresh N Gadasalli
—
Loan Modification
related
$835,517 · American State Bank
—
—
Suresh N Gadasalli Md Pa
—
Loan Modification
related
$835,517 · American State Bank
—
—
Suresh N Gadasalli Md Pa
—
Loan Modification
related
$770,517 · American State Bank
—
—
Gadasalli Rental Ptshp Ltd
—
Loan Modification
related
$250,000 · American State Bank
—
—
Suresh N Gadasalli
—
Deed Of Trust
related
$828,978 · American State Bank
—
—
Gadasalli Rental Ptshp Ltd
—
Loan Modification
related
$2,281,151 · Aimbank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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