2201 8Th StOdessa, TX 79761

Property Details for 2201 8Th St

Year built

1962

Lot size

0.72 AC

Property size (Sq ft)

3,150 SF

Zone code

EE3

Property type

Showrooms

APN

21800.00365.00000

APU

218000036500000

Description

This exceptional 3,150 square foot executive office building, situated on a sizable 0.72-acre corner lot in Odessa, Texas, presents a compelling investment opportunity. Built in 1967, the single-story structure boasts ample covered and asphalt parking, catering to both employees and clients. The interior features numerous rooms, each equipped with windows, providing excellent natural light and a pleasant work environment. A dedicated conference room facilitates efficient meetings and collaborations. Adding to its versatility, a rear garage offers potential for vehicle maintenance, a workshop, or additional storage space, accessible via two bay doors. The property is serviced by city water and sewer. Its strategic location ensures high visibility and accessibility, making it ideal for a variety of businesses. The asking price is $770,000, translating to $209.52 per square foot and $916,666.67 per acre. A 5-year NNN lease is available. This property's diverse functionality and prime location make it an attractive investment for discerning buyers seeking a strong return. The building's adaptable layout is well-suited for various uses, including car dealerships, salons, multi-stylist hair salons, or office spaces requiring a conference room. The ample parking and convenient access points further enhance its appeal. This is a rare opportunity to acquire a well-maintained commercial property in a thriving Texas market.

• CAP approach

  CAP return

  Valuation

  6%

  $686,976

  6.5%

  $634,132

  7%

  $588,836

• Comparable approach

  Method

  Valuation

  Relative Method

  $708,198

  Geo Method

  $1,804,069

• Alternative Use

  Use

  Valuation

  Residential

  $534,914

  Hospitality

  $489,978

  Educational

  $407,656

  Medical

  $421,676

  Retail

  $634,132

Location Insight

City

Odessa

County

Ector

State

Texas

Latitude

31.8624

Longitude

-102.342

CBSA code

36220

CBSA name

ODESSA, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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