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Sherwood Village Shopping Center 621-625 E 42nd St 82,264 SF 97% Leased Retail Building Odessa, TX 79762 $17,500,000 ($212.73/SF)
Investment Highlights
- Further, the center offers an attractive consumer appeal based on a significant redevelopment completed in 2020
- The subject property benefits from its location within the Permian Basin, one of the world’s strongest oil fields
- The major overhaul of the center included roof overlay (with 20-year labor and materials warranty), new plumbing, pylons signs and lighting
Executive Summary
Sherwood Village is a 82,264 square-foot community shopping center in Odessa, Texas, the epicenter of the United States shale revolution. The subject property is advantageously located at the signalized intersection of East 42nd Street and Dixie Boulevard, a high-traffic corridor with exposure to over 41,000 cars per day. Sherwood Village is 98% leased and anchored by Family Dollar and O’Reilly Auto Parts, along with a diverse collection of e-commerce-resistant and complementary tenants, promoting ample cross-shopping opportunities.
Property Facts
Sale Type
Investment
Property Type
Retail
Building Size
82,264 SF
Building Class
B
Year Built/Renovated
1965/2020
Price
$17,500,000
Price Per SF
$212.73
Percent Leased
97%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.30
Lot Size
6.39 AC
Zoning
C - Commercial District
Parking
425 Spaces (5.17 Spaces per 1,000 SF Leased)
Frontage
628’ on East 42nd Street
Space Availability
- Space
- Size
- Space Use
- Position
- Available
Spacious retail suite with 1,470 sqft available.
Fully built out restaurant (former Tea concept). Ideal for Coffee, Deli or other smaller quick service restaurarnts.
| Space | Size | Space Use | Position | Available |
| 4239 | 1,470 SF | Retail | In-Line | Now |
| 633 | 1,236 SF | Restaurant | In-Line | Now |
4239
| Size |
| 1,470 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| Now |
633
| Size |
| 1,236 SF |
| Space Use |
| Restaurant |
| Position |
| In-Line |
| Available |
| Now |
4239
| Size | 1,470 SF |
| Space Use | Retail |
| Position | In-Line |
| Available | Now |
Spacious retail suite with 1,470 sqft available.
633
| Size | 1,236 SF |
| Space Use | Restaurant |
| Position | In-Line |
| Available | Now |
Fully built out restaurant (former Tea concept). Ideal for Coffee, Deli or other smaller quick service restaurarnts.
Nearby Major Retailers
Property Taxes
| Parcel Number | 28600-00384-00000 | Improvements Assessment | $3,600,953 |
| Land Assessment | $1,004,995 | Total Assessment | $4,605,948 |
Property Taxes
Parcel Number
28600-00384-00000
Land Assessment
$1,004,995
Improvements Assessment
$3,600,953
Total Assessment
$4,605,948
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Sherwood Village Shopping Center | 621-625 E 42nd St
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