Lubezone Truck Center Nyse Ares W Annual Increases… — Sale in Odessa, TX

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Retail Business
  • Location: Odessa, TX 79763

Investment Figures

Cap rate
7.75%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Odessa is a city in and the county seat of Ector County, Texas, United States. It is located primarily in Ector County, although a small portion of the city extends into Midland County The City of Odessa had a population of 122,004 as of July 1, 2023. It is the principal city of the Odessa Metropolitan Statistical Area, which includes all of Ector County. Historically, the Odessa economy has been primarily driven by the area’s oil industry, booming and busting in response to rises and falls in the crude oil price. Many of the city’s largest employers are oilfield supply companies and petrochemical processing companies. In recent decades, city leaders have begun trying to decrease the city’s reliance on the energy industry to moderate the boom-bust cycle and develop greater economic sustainability. Odessa has also taken steps to diversify the energy it produces. A new wind farm has been constructed in northern Ector County. A new coal pollution mitigation plant has been announced for a site previously entered in the Futuregen bidding. The new plant will be run by Summit Power and will be located near Penwell. This new plant could lead to the creation of 8,000 jobs in the area. Plans are in place for a nuclear powerplant to be run in conjunction with the nuclear engineering department at University of Texas of the Permian Basin, called High-Temperature Teaching and Test Reactor. This reactor is planned to be near Andrews. Odessa’s main enclosed shopping mall is Music City Mall, which includes Dillards, JC Penney, Sears, Burlington Coat Factory, an indoor ice skating rink, and a television station. Construction of new retail in recent years has been concentrated on the city’s northeast side. In November 2007, the city approved a contract with a company that develops armaments for US Army helicopters to begin operations in Odessa. There are several parks and playgrounds in Odessa including Bellaire Park, Crump Park, Optimist Park, and Polyantha Park. The Ellen Noel Art

Market Context

This retail in Odessa, TX is listed for sale. It is offered at an approximate 7.8% capitalization rate, a key benchmark for income-producing retail assets. It has been on the market for 100 days. Compare it against other retail listings for sale in Odessa, TX — view the full market.

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