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    Downtown El Paso Apartment Building Title is generated by Realmo AI

    504 N OREGON Street, El Paso, TX 79901

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    Claim this Listing
    For Sale
    $2,850,000

    COMMERCIAL - El Paso, TX

    Lot size:
    0.11 Acres
    Added:
    May 10, 2026
    Days on Market:
    23
    Last Refresh:
    Jun 1 at 10:06 pm

    Property Features for 504 N OREGON Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    C5
    Parking features
    On Street
    Fireplace
    1
    Standard status
    Active
    APN
    M47399902106600
    Lot size
    0.11 Acres

    Taxes and HOA fees

    Tax Description
    21 MILLS 16 & N 14 FT OF 17

    Utilities

    Utilities
    Cable Available
    Sewer type
    Public Sewer
    Heating system
    Heat Pump (Heating)
    Cooling system
    Multi Units

    Building Details

    Floors in Building
    4
    Building materials
    Brick Veneer

    We can help!

    Listing Contact
    Michael Bray
    Michael Bray

    Listing agent Michael Bray License #0385615

    Listing office R C Properties 4855 N Mesa, Ste. 116, El Paso, TX

    Listing date May 10, 2026

    MLS# 943719

    Copyright © 2026 Greater El Paso Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Prime downtown El Paso location, near West Star Plaza, University Park, Plaza Theater, History Museum, and Public Library.
    • Renovated historic building (built in 1902) with unique character.
    • 34‑unit apartment building with a mix of one‑bedroom and studio apartments.
    • Five handicapped‑accessible units.
    • Amenities include a basement laundry room, and elevator.
    • Fully equipped kitchenettes in each unit.

    Overview

    Located in downtown El Paso, near West Star Plaza and University Park, this property is steps away from the Historic Plaza Theater, El Paso History Museum, and El Paso Public Library. Constructed in 1902, the building originally served as a 53-room residential hotel. In 1991, it was renovated into a 34-unit apartment building, featuring 22 one-bedroom apartments and 12 studio apartments. Five of the units are handicapped accessible. The building's amenities include a basement-level laundry room, an elevator, and fully equipped kitchenettes. The property is located close to bus and trolley lines. The lot size is 0.11 acres. The zoning is C5.
    Property Profile Location Intelligence

    Current Use by Public Records

    North Oregon Apts. Real Estate Agency

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Law Firm Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    El Paso
    County
    El Paso
    State
    Texas
    Longitude
    -106.490165
    Latitude
    31.760908

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    FAQs

    What type of property is this?
    Apartment building - 34-unit apartment building in the heart of downtown El Paso.
    Where is this apartment building located?
    The property is located at 504 N OREGON Street El Paso, TX.
    What is the asking price?
    The asking price for this property is $2,850,000.
    What are key features of this property?
    This property features: Prime downtown El Paso location, near West Star Plaza, University Park, Plaza Theater, History Museum, and Public Library.; Renovated historic building (built in 1902) with unique character.; 34‑unit apartment building with a mix of one‑bedroom and studio apartments.
    (915) 549-1770
    We can help!
    Listing Contact
    Michael Bray
    Michael Bray
    Real Estate License ID: 0385615
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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