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    Property profile & analytics

    6609 16th St Odessa, TX 79763-6407

    • Office buildings
    • 2,500 SF
    • 11.42 lot acres
    OFF-MARKET
    Last Sale
    Apr 25, 2022
    Value Estimations
    $405,000
    Show details
    Cap Rate Potential
    9.4%
    Office buildings
    Location Intelligence
    Property ID
    US82-4241347
    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

    • Schlumberger - One Surface (Cameron Process Systems) / Oil Field Equipment Supplier

    Property Details for 6609 16th St

    Year built
    1980
    Lot size
    11.42 lot acres
    Property size
    2,500 SF
    Zone code
    EW5
    Property type
    Office buildings
    APN
    35300.03491.00000
    APU
    353000349100000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $375,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $590,000
      6.5%
      $545,000
      7%
      $505,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $590,000
      Market price range: $354k - $946k

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

    Location Insight

    • Map
    • Local Demand
    City
    Odessa
    County
    Ector
    State
    Texas
    Longitude
    -102.448
    Latitude
    31.8363
    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
    $11,231
    $129,379
    $522,177
    $651,556
    -
    $129,379
    $522,177
    $651,556

    Comparable in this City

    • Value Estimation
      $550,000
      2,684 SF

      14001 Murphy St

      OFFICE BUILDING • 2,684 SF
      14001 Murphy St, Odessa, TX 79763-2986
      View Details
    • Value Estimation
      $800,000
      5,600 SF

      16761 Basin St

      OFFICE BUILDING • 5,600 SF
      16761 Basin St, Odessa, TX 79763-3017
      View Details
    • Value Estimation
      $290,000
      380 SF

      101 Sandy St

      OFFICE BUILDING • 380 SF
      101 Sandy St, Odessa, TX 79763-4428
      View Details
    • Value Estimation
      $475,000
      4,200 SF

      1760 Fm 866

      OFFICE BUILDING • 4,200 SF
      1760 Fm 866, Odessa, TX 79763
      View Details
    • Value Estimation
      $335,000
      3,040 SF

      2600 Interstate 20

      OFFICE BUILDING • 3,040 SF
      2600 Interstate 20, Odessa, TX 79763-5100
      View Details
    • Value Estimation
      $480,000
      960 SF

      2700 Interstate 20

      OFFICE BUILDING • 960 SF
      2700 Interstate 20, Odessa, TX 79763-5105
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      4,440 SF

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      4,440 sq ft building suitable for retail or office.
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    • $649,000
      2,100 SF

      Live/Work Property with Shop

      One-acre property featuring a shop, office, and log cabin.
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    • $1,100,000
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      New Construction Flex/Industrial Building

      New construction flex/industrial building on 2.35 acres, available 2026.
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    • Contact for pricing
      10,200 SF

      Kinsley Build: Odessa Industrial Space

      Modern Odessa warehouse, office, & shop space.
      16571 Basin St, Odessa, TX 79763
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    • $625,000
      5,000 SF

      Versatile Office/Warehouse with Fenced Yard

      Office/warehouse with drive-thru bays, secured parking, and fenced yard.
      3111 Fm 1936, Odessa, TX 79763
      View Details
    • New
      $455,000
      4,440 SF

      Versatile Commercial Building in Odessa

      4,440 sq ft building ideal for retail, office, or showroom.
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    Similar Nearby for Lease

    • $2 SF/Yr
      4,000 SF

      I-20 West Frontage Commercial Property

      Prime Odessa location, 4,000 sqft available.
      850 I-20, Odessa, TX 79763
      View Details
    • $7,950 /Mo
      7,800 SF

      Odessa Shop/Office Space For Lease

      7,800 sq ft shop/office on 3.6 AC lot.
      1881 S Redline Ave, Odessa, TX 79763
      View Details
    • Contact for pricing
      1,625 SF

      Odessa Office Space For Rent

      Office space available for lease in Odessa, Texas.
      2025 N County Rd W, Odessa, TX 79763
      View Details
    • Contact for pricing
      3,250 SF

      2450 I-20

      Distribution properties • 3,250 SF
      2450 I-20, Odessa, TX 79763
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    • $26 SF/Yr
      3,000 SF

      Odessa Medical/Retail/Office Space Available

      3,000 SF space suitable for medical, retail, or office use.
      2260 Linda Ave, Odessa, TX 79763
      View Details
    • $8,000 /Mo
      6,200 SF

      Commercial Office and Shop Space

      6,200 SF office and shop on 1.5-acre corner lot.
      4424 W 8Th St, Odessa, TX 79763
      View Details
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    6609 16th St
    Odessa, TX 79763-6407
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    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
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