4040 Medical Park Dr, Odessa, TX 79765 For Sale

Cushman & Wakefield’s Healthcare Capital Markets Team is pleased to present 4040 Medical Park Drive, a premier medical office investment opportunity in Odessa, Texas. This 9,305 SF outpatient facility is 100% leased to Pinnacle Dermatology, part of the QualDerm Partners family of practices with over 150 locations nationwide. Pinnacle’s triple-net lease runs through September 2031 with unlimited CPI annual escalations supported by a 2.00% floor.

Strategic Location within the Permian Basin

Odessa is considered part of the larger Midland-Odessa-Andrews Combined Statistical Area (CSA) with a burgeoning population of 378,000 that has grown an estimated 7.2% since the 2020 Census. The property is surrounded by complementary healthcare providers and is located within minutes of area hospitals including Medical Center Hospital (402 beds) and Odessa Regional Medical Center (225 beds).

Modern, Purpose-Built Facility

Constructed in 2016, the building features contemporary design and clinical improvements tailored for dermatology and outpatient services, minimizing future capital expenditure risk. Efficient layout and modern infrastructure support a wide range of medical uses.

Strong Demographics & Market Fundamentals

Within a five-mile radius, the property serves nearly 50,000 residents with an average household income of $111,374 and annual healthcare spending exceeding $143 million. Odessa is the primary healthcare hub for West Texas and the Permian Basin, benefiting from population growth, high healthcare utilization, and limited supply of modern medical office space. According to CoStar, the CSA’s 1.2M sq. ft. of medical office inventory is currently 95.3% leased and has never dipped below 92.5%. With no new construction in progress, the limited supply and growing demand of space suggests a high likelihood of renewal.

With 90+ locations in 11 states, Pinnacle Dermatology is the largest multi-state female-founded and owned dermatology network in the US. Pinnacle Dermatology’s founder, Dr. Lapinski, worked to improve Pinnacle Dermatology’s care by standardizing access to surgical dermatology and general medical dermatology for their patients and remains an active leader and provider at Pinnacle.

This location was originally operated as Chappell Rosso Dermatology and Laser & Aesthetic Center, which was acquired by Pinnacle Dermatology in 2021. The founding physician stayed on with Pinnacle and still practices at this location.