Investment Overview

As the exclusive representative of the seller, Marcus & Millichap's National Hospitality Division is pleased to present for sale to qualified investors the 901 S JBS Parkway - Land Development (‘Hotel’ or ‘Property’) located in Odessa, Texas. This Property is offered at $1,106,424 or $20.99 per square foot. 901 S JBS Parkway - Land Development is located just off Interstate 20, which averages more than 22,500 vehicles per day. Located in the heart of the Permian Basin, Odessa is the industrial and commercial crossroads of west Texas positioned halfway between Dallas/Fort Worth and El Paso. Odessa and its sister city Midland are located just 18 miles east and make up the Midland-Odessa MSA, informally referred to as the "Petroplex." The Permian Basin accounts for nearly 40 percent of all oil production in the United States and nearly 15 percent of natural gas production. This production has led companies such as Chevron, ConocoPhillips, Accel Fusion, and Danos to set up operations in the Petroplex. Recently, Nacero Inc. announced an $8 billion gas to gasoline facility in Penwell, Texas (15 miles west of Odessa). This new development is expected to bring 3,500 construction jobs during development, four million daily drivers once opened, and an estimated $25 billion boost to the region’s economy. Additionally, the Property is near recreational attractions like the Ector County Coliseum and the University of Texas Permian Basin (UTPB) which maintains attractions like the Stonehenge replica and the Presidential Archives and Leadership Library. A multi-purpose event venue, West Texas Event Center spans more than 11,600 square feet and is equipped to accommodate weddings, parties, concerts, quinceañeras, and more. The Midland International Air & Space Port is less than ten miles from the subject Property. The Property is classified as Light Industrial and has a strategic location that makes it suitable for transforming into either a gas station or convenience store. With no other gas stations or convenience stores in the vicinity, the Property has an advantage of becoming the sole gas station near this intersection, and with the necessary utilities, such as water, sewer, and electrical. The Light Industrial zoning also presents the possibility of developing other establishments such as a hotel, auto parts store, workforce housing, and other ventures.