In this paper, we study the performance of point-topoint communication in self-organized networks. An informationtheoretic framework is considered to determine the optimum transmission power enabling reliable communication between neighboring nodes at a certain user requested rate. Realistic channel models taking into account path-loss and fading are also considered. Optimal power allocation strategies are investigated. For this purpose, we use the ergodic capacity as a criterion for information-theoretic analysis. In the first case, the transmit power is the same for all pairs. In a more opportunistic case, different transmit pairs use different transmit powers according to their channel realizations. Then, for a given rate requirement C, we derive the optimal close-talker distance that meets the requirement for a given power P. Numerical results are finally presented giving insights into the design of power adaptation schemes for point-to-point communications.