Midland-Odessa Market Report
Midland-Odessa commercial real estate market report — 4,654,900 SF tracked across 18 buildings, 23 sale comparables, 122 lease comparables and 15 loans with 3 maturing before 2029.
Fundamentals by property type
| Property type | Buildings | Inventory SF | Vacancy | Avg asking rent | Rent YoY | Avg cap rate | Avg $/SF |
|---|---|---|---|---|---|---|---|
| Office | 5 | 2,885,100 | 6.0% | $22.95 | 1.2% | 7.90% | $253 |
| Industrial | 3 | 901,400 | 19.0% | $9.52 | 0.4% | 6.54% | $549 |
| Retail | 5 | 553,100 | 4.8% | $37.82 | 1.9% | 7.53% | $169 |
| Medical | 2 | 111,200 | 7.8% | $28.74 | 4.1% | 6.62% | $211 |
Recent sale comparables
| Date | Property | Type | Price | $/SF | Cap | Buyer |
|---|---|---|---|---|---|---|
| 2025-09-26 | 1981 Preston Rd | Industrial | $39.93M | $110.78 | 8.94% | Everline Real Estate |
| 2025-08-17 | 2766 Ross Ave | Retail | $7.58M | $127.25 | 7.60% | Lakeshore Realty Trust |
| 2025-07-17 | 1967 Ocean Dr | Office | $61.58M | $183.99 | 6.04% | Dunmore Equities |
| 2025-06-21 | 1770 Stone Oak Pkwy | Industrial | $12.78M | $152.19 | 7.57% | Vantage Point Capital |
| 2025-02-23 | 1782 Cedar Springs Rd | Hospitality | $37.4M | $442.57 | 9.13% | Juniper Real Estate |
| 2025-01-04 | 2831 Westheimer Rd | Office | $174.39M | $213.95 | 8.42% | Potomac Realty Trust |
| 2024-06-12 | 427 Burnet Rd | Industrial | $64.69M | $141.55 | 8.89% | Gulf Coast Realty Partners |
| 2024-04-19 | 2340 Dallas Pkwy | Office | $149.2M | $236.30 | 8.00% | Zenith Real Estate |
| 2023-12-22 | 2831 Westheimer Rd | Office | $145.8M | $178.87 | 4.70% | Quarry Point Partners |
| 2023-11-23 | 1981 Preston Rd | Industrial | $18.32M | $50.83 | 7.85% | James River Properties |
| 2023-08-04 | 1502 Travis St | Retail | $41.87M | $221.66 | 7.59% | Aldergate Capital |
| 2023-03-10 | 2340 Dallas Pkwy | Office | $191.88M | $303.89 | 4.67% | Permian Basin Properties |
Debt and rollover exposure
15 loans totalling $424.31M are tracked against Midland-Odessa assets. 3 of them, representing $134.02M, mature before January 2029. Separately, 70 tracked leases covering 974,100 SF expire in the same window.
Weighted average coupon on tracked Midland-Odessa debt is 5.85% with average loan-to-value of 59.8%. See how to read a maturity schedule for the refinancing-gap method.
18 commercial properties are tracked in Midland-Odessa, representing 4,654,900 SF of rentable building area, of which 385,700 SF is currently marketed as available.
Asking rents average $28.82 per square foot per year, the median marketed suite is 20,000 SF, and listings have been on market a median of 416 days.
The stock splits 8 Class A, 8 Class B, 2 Class C, with construction dates from 1907 to 2017 (median 1971).
The most concentrated submarkets are Midland (11), Odessa (7).
Methodology
Fundamentals are computed from RealStarGlobal's tracked inventory for Midland-Odessa and re-cut on each build (2026-08-26). Sale and lease comparables are the tracked transaction set for assets in this market; loan records derive from recorded mortgages and tracked lender reporting. Property-level inventory in this demonstration dataset is RealStarGlobal sample data — live market activity, deal flow and news come from the Acquirepad CRE intelligence feed. Registry and GIS provenance per jurisdiction is set out in the data sourcing plan. Definitions follow the conventions described in why providers disagree about submarkets.