2500 Grandview AveOdessa, TX 79766

Property Details for 2500 Grandview Ave

Year built

1970

Lot size

20.52 AC

Property size (Sq ft)

7,812 SF

Zone code

ES2

Property type

Office buildings

APN

42430.00190.04000

APU

424300019004000

Description

This exceptional 20.77-acre commercial property in Odessa, Texas, presents a unique investment opportunity. Located at 2500 S Grandview Ave, this expansive site boasts 13 individual buildings totaling 100,309 square feet, all currently vacant. Building sizes range from 1,121 to 16,492 square feet, offering flexibility for various retail uses. The property features two rail spurs, one active with a switch, providing significant logistical advantages. Infrastructure includes three-phase and single-phase power, and HVAC systems are present in most buildings. One building, a former bank constructed of brick, offers redevelopment potential. Other structures include a large shop and various other buildings. The property is chain-link fenced and situated on a corner lot, providing excellent road frontage. Note that one building contains asbestos and will require remediation or encapsulation according to regulations. The property is also available for lease at $40,000 per month, NNN. Built in 1970, this property is identified by APN 42430.00190.04000 in Ector County. The property's combination numbers are Middle Gate 0827 and Buildings 0828. No known restrictions exist.

• CAP approach

  CAP return

  Valuation

  6%

  $1,158,980

  6.5%

  $1,069,827

  7%

  $993,411

• Comparable approach

  Method

  Valuation

  Relative Method

  $696,957

  Geo Method

  $1,775,433

• Alternative Use

  Use

  Valuation

  Residential

  $1,326,586

  Hospitality

  $1,215,146

  Educational

  $1,010,987

  Medical

  $1,045,756

  Retail

  $1,572,646

Location Insight

City

Odessa

County

Ector

State

Texas

Latitude

31.825

Longitude

-102.331

CBSA code

36220

CBSA name

ODESSA, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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