6124 E. 56th Street
A ±10,000 SF, 100% leased NNN retail investment on East Odessa's fastest-growing commercial corridor. Newer construction, diversified rent roll, and durable in-place cash flow.
Executive Summary
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| Address | 6124 E. 56th Street, Odessa, TX |
|---|---|
| Property Type | Multi-Tenant Retail Strip Center |
| Asking Price | $2,920,000 |
| In-Place NOI | $219,000 |
| Cap Rate | 7.50% |
| Occupancy | 100% |
| Lease Structure | NNN (triple-net) |
| Number of Tenants | 4 |
| Building Size | ±10,000 SF |
| Land Size | ±0.58 Acres |
| Year Built | 2023 |
| Investment Type | Fully leased NNN retail — passive income / 1031-eligible |
Investment Highlights
A Rare, Fully-Leased Retail Asset
Sixteen reasons this offering stands apart in the Permian Basin retail market.
100% Leased
Four Established Tenants
Strong In-Place NOI
7.50% Cap Rate
Approximately 10,000 SF
NNN Lease Structure
Major East Odessa Growth Corridor
Road Expansion Planned Nearby
Excellent Visibility
Immediate Cash Flow
Diversified Tenant Base
Future Rental Growth
Ideal 1031 Exchange
Minimal Landlord Responsibilities
Professionally Maintained
Strong Long-Term Investment
Property Overview
Newer-Construction Retail on East 56th Street
A ±10,000 SF multi-tenant retail center delivered in 2023, positioned along one of East Odessa's fastest-growing commercial corridors. Purpose-built for national and regional tenants with strong visibility, 50 surface parking spaces via a shared easement with Community Bible Church, and durable NNN economics.
- Property Type
- Multi-Tenant Retail
- Building Size
- ±10,000 SF
- Land Size
- ±0.58 Acres
- Year Built
- 2023
- Parking
- 50 Surface Spaces (shared easement with Community Bible Church)
- Occupancy
- 100%
- Current NOI
- $219,000
- Cap Rate
- 7.50%
- Location
- 6124 E. 56th Street, Odessa, Texas
Financial Overview
In-Place Cash Flow at 7.50% Cap
Stabilized income, NNN structure, and minimal landlord obligations produce clean, predictable returns from day one.
Revenue by Suite Allocation
Annualized base rent contribution.
Investment Summary
Passive, institutional-quality income.
The NNN lease structure and diversified rent roll significantly limit landlord expense exposure while delivering reliable, predictable cash flow from day one.
- Lease Structure
- NNN
- Tenants
- 4
- Total GLA
- ±10,000 SF
- Year Built
- 2023
- Landlord Obligations
- Minimal
- 1031 Exchange
- Ideal
Property Gallery
Professional Photography
Drone, exterior, interior, and aerial imagery of the property and its trade area.
Tenant Overview
Diversified, Established Rent Roll
Four complementary uses drive daily traffic across weekdays, weekends, and evenings. Full tenant identities disclosed under NDA.
| Suite | Tenant | Square Feet | Lease Expiration | Status |
|---|---|---|---|---|
| 100 | Fitness Studio | 5,000 | Nov 2030 | Occupied |
| 102 | Massage Therapy | 2,000 | Oct 2030 | Occupied |
| 106 | Barber Shop | 1,000 | Jun 2029 | Occupied |
| 110 | Speech Therapy Scheduled bump to $20.50/SF NNN | 2,000 | Jun 2029 | Occupied |
| Total | 4 Tenants | ±10,000 SF | NNN | 100% Occ. |
Full tenant identities, lease abstracts, and rent roll disclosed under NDA.
Location & Demographics
East Odessa's Growth Corridor
Positioned along the primary retail spine serving eastern Odessa's fastest-growing residential submarkets. Direct access to I-20 and the Loop 338 network.
Retail & Restaurants
- Music City Mall
- Walmart Supercenter
- The Home Depot
- Target
- H-E-B Grocery
Institutions
- Medical Center Health System
- Odessa Regional Medical Center
- UT Permian Basin
- Odessa College
- Ector County ISD
Infrastructure
- Interstate 20 corridor
- Loop 338
- JBS Parkway
- Midland Intl. Air & Space Port
Demographics
- Traffic counts — report pending
- 1/3/5-mile demographics — report pending
Investment Thesis
A Passive, Institutional-Quality Cash Flow Asset
Purpose-built newer construction, credit-quality tenant mix, and Permian Basin economic tailwinds combine in a rare sub-$3M offering.
Why Odessa
Anchor of the Permian Basin — the most productive oil region in North America — with a diversified support economy across healthcare, education, and logistics.
Why East Odessa
The city's most active residential growth submarket, absorbing new rooftops faster than existing retail supply can meet.
Retail Demand
Undersupplied service, wellness, and restaurant retail categories drive rent growth and near-zero vacancy in newer product.
Income Stability
NNN leases with established operators produce clean, predictable cash flow with minimal landlord responsibility.
1031 Advantage
Right-sized basis and clean structure make this an ideal replacement asset for exchange buyers seeking passive income.
Long-Term Appreciation
Planned 56th Street road expansion and continued residential absorption support meaningful long-hold upside.
Investor Due Diligence
Request the Full Offering Package
Submit a brief investor profile to receive the currently available diligence materials. Additional documents are added as they are prepared.
Available Documents
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Property Tour
Schedule a Site Visit
In-person and virtual tours available. We'll respond within one business day.
Contact
Speak with the Owner
Property Contact
Justin Whitaker · Owner
Listed directly by the owner. Not represented by a broker.
- Phone
- 214-282-3644
- jwhit25@gmail.com
Use the Document Vault or Tour form above, or reach out directly. Response within one business day.
Broker Cooperation
Invited
Buyer's Brokers Welcome
Buyer-broker compensation available under a standard cooperation agreement. Terms provided on request.