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Vacant-User

4519 Brazos Ave

4519 Brazos Ave, Odessa, TX 79764

Listing Price: $850,000

Gross SF
41,896
Price/Gross SF
$20.29
Lot Size
2.70 acres
Year Built
1972
Rentable SF
41,896

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 4502 Brazos Avenue in Odessa, Texas. The subject property consists of approximately 41,896 square feet of space among three buildings and is situated on 2.7 acres of land. The asset features various overhead cranes within the main warehouse. As a vacant property, the warehouse is ideal for owner-use for a business with a need to handle heavy equipment or materials. With ample outside space, the property can accommodate extra storage of materials or fleet parking. Frontage along Brazos Avenue provides easy access to major streets and highways. As the fourth quarter begins, industrial rents in the Odessa Market are rising at a rate of 5.3 percent year-over-year. The current growth rate in rents is the highest on record since 2008, and 140 basis points higher than the three-year average. While inventory has expanded by a sizable 4.2 percent since 2018, there is only 17,000 square feet currently underway, representing an insignificant expansion to the 10.7 million square feet of inventory. With no pressure coming from new supply, the vacancy rate in Odessa should continue to fall from its current level of 10.4 percent. Recently, nonfarm payrolls were increasing at an annual rate of 8.8 percent in metro Odessa, marking the strongest rate of job creation in over a year (CoStar). At $80 a barrel, oil prices have reached seven-year highs, and are projected to move higher as the global energy shortage worsens. With the stars aligning for a new cyclical bull market in oil, Odessa presents a prime opportunity to industrial investors. Located in West Texas, the Midland-Odessa metro is considered to be 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. The metro consists of Martin, Midland, and Ector counties. The public sector is a top job provider, but the private sector is driving the economic growth. The two largest cities are Midland with nearly 140,000 residents and Odessa with roughly 120,000 residents. Midland is the center of America’s oil and gas production. Petroleum production and all things in between are prevalent in the area, but Midland is making great efforts and success in diversifying into additional industries such as aerospace. Interstate 20 runs through Midland, making it easy to transport goods and raw materials throughout the country. Rated the No. 1 state for business by U.S. corporate executives, this is an excellent place to start or grow a business in Texas. (midlandtxedc.com). Major employers include: Halliburton, Hilliard, Legacy Reserves, Midland College, Midland Health, Patterson-UTI, Pioneer Natural Resources, Schlumberger, Weatherford, Baker Hughes, Chevron, ConocoPhillips, Bloomberg, and more.

Investment Highlights

  • 41,896-Square-Foot Industrial Asset Situated on 2.70 Acres
  • Main Warehouse Features Various Overhead Cranes with Office Space Facing Brazos Avenue
  • Owner-User Opportunity for Businesses with a Need to Handle Heavy Equipment or Materials
  • Ample Outside Storage Space for Materials or Fleet Parking
  • Frontage Along Brazos Avenue, with Easy Access to Major Streets and Highways

Exclusively Listed By

Financing By

Vacant-User

4519 Brazos Ave

Listing Price: $850,000

Gross SF
41,896
Price/Gross SF
$20.29
Lot Size
2.70 acres
Year Built
1972
Rentable SF
41,896

Investment Highlights

  • 41,896-Square-Foot Industrial Asset Situated on 2.70 Acres
  • Main Warehouse Features Various Overhead Cranes with Office Space Facing Brazos Avenue
  • Owner-User Opportunity for Businesses with a Need to Handle Heavy Equipment or Materials
  • Ample Outside Storage Space for Materials or Fleet Parking
  • Frontage Along Brazos Avenue, with Easy Access to Major Streets and Highways

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 4502 Brazos Avenue in Odessa, Texas. The subject property consists of approximately 41,896 square feet of space among three buildings and is situated on 2.7 acres of land. The asset features various overhead cranes within the main warehouse. As a vacant property, the warehouse is ideal for owner-use for a business with a need to handle heavy equipment or materials. With ample outside space, the property can accommodate extra storage of materials or fleet parking. Frontage along Brazos Avenue provides easy access to major streets and highways. As the fourth quarter begins, industrial rents in the Odessa Market are rising at a rate of 5.3 percent year-over-year. The current growth rate in rents is the highest on record since 2008, and 140 basis points higher than the three-year average. While inventory has expanded by a sizable 4.2 percent since 2018, there is only 17,000 square feet currently underway, representing an insignificant expansion to the 10.7 million square feet of inventory. With no pressure coming from new supply, the vacancy rate in Odessa should continue to fall from its current level of 10.4 percent. Recently, nonfarm payrolls were increasing at an annual rate of 8.8 percent in metro Odessa, marking the strongest rate of job creation in over a year (CoStar). At $80 a barrel, oil prices have reached seven-year highs, and are projected to move higher as the global energy shortage worsens. With the stars aligning for a new cyclical bull market in oil, Odessa presents a prime opportunity to industrial investors. Located in West Texas, the Midland-Odessa metro is considered to be 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. The metro consists of Martin, Midland, and Ector counties. The public sector is a top job provider, but the private sector is driving the economic growth. The two largest cities are Midland with nearly 140,000 residents and Odessa with roughly 120,000 residents. Midland is the center of America’s oil and gas production. Petroleum production and all things in between are prevalent in the area, but Midland is making great efforts and success in diversifying into additional industries such as aerospace. Interstate 20 runs through Midland, making it easy to transport goods and raw materials throughout the country. Rated the No. 1 state for business by U.S. corporate executives, this is an excellent place to start or grow a business in Texas. (midlandtxedc.com). Major employers include: Halliburton, Hilliard, Legacy Reserves, Midland College, Midland Health, Patterson-UTI, Pioneer Natural Resources, Schlumberger, Weatherford, Baker Hughes, Chevron, ConocoPhillips, Bloomberg, and more.

Exclusively Listed By

Financing By

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