6501 Interstate 20Odessa, TX 79762

Property Details for 6501 Interstate 20

Lot size

9.42 AC

Property size (Sq ft)

12,500 SF

Property type

Warehouses

Property subtype

Industrial properties

Description

This exceptional investment opportunity presents a 12,500 square foot industrial property situated on a 9.42-acre lot in Odessa, Texas. The property boasts prime Interstate 20 frontage, offering excellent visibility and accessibility. Currently occupied by a single tenant under a Net Lease agreement, the property features two buildings constructed in 1967 and 2013, totaling 12,500 net rentable square feet. The lease commenced March 1, 2023, with a remaining term of approximately 1.3 years, and includes annual rent bumps of 3% and two 2-year extension options. The current monthly rent is $15,000, generating a substantial Net Operating Income (NOI) of $180,000 annually. The property is zoned FD - Future Development District, offering potential for future expansion or redevelopment. This Class C industrial property, with a 6.67% cap rate and an asking price of $2,700,000, represents a strong value proposition for investors seeking a stable, high-yield investment with significant upside potential. The property's location, tenant occupancy, and lease terms combine to create a compelling investment opportunity. The property address is 6501 E Interstate 20, Odessa, TX 79762. The APN is 17860.00010.00000.

Location Insight

City

Odessa

County

Ector

State

Texas

Latitude

31.8717

Longitude

-102.293

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