Frequently Asked Questions

The Rig at Ponderosa is a 2023-built, approximately 10,000 SF multi-tenant retail strip center on ±0.58 acres in East Odessa's growth corridor. The property is currently 100% leased to four tenants on NNN leases.

The building was completed in 2023.

The building is approximately 10,000 SF and sits on approximately 0.58 acres. Parking is 50 surface spaces under a shared easement with adjacent Community Bible Church.

The property is 100% leased to four established tenants: a fitness studio, a massage therapy studio, a barber shop, and a speech therapy practice.

Four tenants across four suites: Suite 100 (5,000 SF), Suite 102 (2,000 SF), Suite 106 (1,000 SF), and Suite 110 (2,000 SF).

All four tenants operate under NNN (triple-net) leases, meaning tenants reimburse landlord for their pro-rata share of property taxes, insurance, and common area maintenance. This minimizes ongoing landlord responsibilities.

Yes. Suite 110 (Speech Therapy) is scheduled to step up to $20.50/SF NNN, providing near-term contractual upside.

The asking price is $2,920,000.

In-place net operating income is approximately $219,000.

The going-in cap rate is 7.50% based on the current asking price and in-place NOI.

6124 E. 56th Street is in East Odessa, Texas, in the Permian Basin. The site benefits from strong visibility, a planned road expansion nearby, and adjacency to residential and institutional demand drivers including the Headlee Estates subdivision and University of Texas Permian Basin.

Nearby demand includes the Headlee Ranch retail pad sites (Tarzan & Jane, HTeaO, Athletic Republic), the ±12-acre Headlee Estates residential subdivision, Community Bible Church, and access to I-20 and Midland International Air & Space Port.

Yes. A confidential Offering Memorandum, rent roll, and expense reconciliation are available through the secure investor portal after signing a confidentiality agreement.

Four simple steps: (1) Go to the OM Request page and submit your name, email, and investor profile. (2) Sign the digital Confidentiality Agreement (NDA). (3) Wait for owner approval — you'll be notified when access is granted. (4) Log in and download your personalized, watermarked PDF from the gated OM page. Approved users also gain access to the secure due-diligence vault.

The secure investor portal includes the Offering Memorandum, rent roll, historical operating statements, lease abstracts, site plan, and property photography. Additional items (title, survey, environmental) are shared under contract.

Yes. The property is listed directly by the owner, Justin Whitaker. Buyer-broker cooperation is invited and welcomed — brokers representing a qualified buyer should contact Justin directly at jwhit25@gmail.com or 214-282-3644 to register their client and discuss commission terms.

Justin Whitaker (Owner) — jwhit25@gmail.com, 214-282-3644. Justin is not a licensed broker; he is the property owner listing the asset directly.

Yes. A fully leased NNN retail asset with immediate cash flow is a common 1031-exchange replacement property. Buyers should consult their qualified intermediary and tax advisor for their specific timeline and requirements.

The property is being offered free and clear. Buyers may pursue conventional financing or all-cash. The financial-analysis page includes an interactive tool for modeling down payment, rate, amortization, DSCR, and cash-on-cash.

New 2023 construction, 100% occupancy, NNN leases, diversified service-based tenant mix, contractual rent step, and a growing East Odessa submarket combine for immediate cash flow with minimal landlord obligations.

Visit the Schedule a Tour page and submit your preferred date, time, and format (in-person or virtual walkthrough). Justin Whitaker will confirm within one business day and coordinate site access. Prospective buyers are encouraged to review the OM prior to touring.