Investment Overview

Marcus & Millichap is pleased to present 2840 Andrews Highway, located at 2840 Andrews Highway in Odessa, Texas. The subject property features a 2,680-square-foot building situated on 18,000 square feet of land. The property is currently being operated as Angel Nails, with the tenant on a month-to-month lease and vacating the property soon. The subject property is located proximate to numerous educational institutions, including New Tech Odessa High School, Odessa College, and Sam Houston Elementary. The site also is located within close proximity to national retailers such as Chick-fil-A, Family Dollar, Pizza Hut, Dairy Queen, McAlister's, Jack in the Box, Whataburger, Wendy's, Denny's, Long John Silvers, and more. There are also several new developments planned nearby, including a new Murphy's Gas Station at the northwest corner of University Boulevard and Andrews Highway. Located in West Texas, the Midland-Odessa metro is deemed an energy capital, as the Permian Basin is one of the biggest oil fields in the world and is home to some of the largest petroleum-producing companies. For the U.S., oil and gas activity in the Permian Basin leads to economic benefits of an estimated $187.2 billion in gross product each year and more than 1.5 million jobs. 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 ConocoPhillips, Accel Fusion, and Chevron to set up operations in the market. Overall, 2840 Andrews Hwy provides a new owner-user, investor, and/or developer the rare opportunity to acquire a hard corner in a rapidly developing submarket of Odessa, Texas. The subject property is well-situated along Andrews Highway, with close proximity to University Boulevard, featuring 21,000+ and 23,000+ vehicles per day respectively. The close proximity to multiple educational institutions and numerous national retailers provides an excellent opportunity to continue the growth in this submarket and capitalize off of the increased activity. The subject property is zoned LC - Light Commercial, allowing for multiple commercial uses and developments.