615 Sam Houston AveOdessa, TX 79761

Property Details for 615 Sam Houston Ave

Year built

1966

Lot size

0.21 AC

Property size (Sq ft)

1,410 SF

Zone code

EB6

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

13900.00520.00000

APU

139000052000000

Description

This exceptional restaurant opportunity is located in the heart of downtown Odessa, Texas, at 615 N Sam Houston Ave, 79761. The property boasts a prime location just three blocks from numerous medical offices and other professional businesses, ensuring high foot traffic and visibility. This established restaurant features a spacious 2,924 square foot building situated on a 0.21-acre lot. Built in 1966 and extensively renovated in 2016, the property is in excellent condition and ready for immediate occupancy, with an anticipated occupancy date of August 19, 2024. The single-story building offers a comfortable and inviting atmosphere, complemented by an outdoor casual seating area with covered spaces, perfect for enjoying meals and drinks. The asking price is $649,000, translating to $221.96 per square foot. This represents a unique chance to acquire a thriving business in one of Odessa's most desirable locations. The property's strong history and prime location make it an ideal investment for experienced restaurateurs or those seeking a turnkey operation in a vibrant and growing market. Don't miss this chance to own a piece of Odessa's culinary scene.

• CAP approach

  CAP return

  Valuation

  6%

  $209,186

  6.5%

  $193,095

  7%

  $179,302

• Comparable approach

  Method

  Valuation

  Relative Method

  $125,795

  Geo Method

  $320,451

• Alternative Use

  Use

  Valuation

  Residential

  $239,438

  Hospitality

  $219,324

  Educational

  $182,475

  Medical

  $188,750

  Retail

  $283,849

Location Insight

City

Odessa

County

Ector

State

Texas

Latitude

31.848

Longitude

-102.374

CBSA code

36220

CBSA name

ODESSA, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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