Triplex With Refrigerated
For Sale
$299,500
11531 Ernest Road Unit 13, Socorro, TX 79927
Three-unit property with refrigerated air, hard-surface flooring, and in-unit laundry appliances.
Property Size2,244 SF
Price / SF$133.47
Days on Market343
Property Features for 11531 Ernest Road Unit 13
General Information
Standard status
Active
Size
2,244 SF
Property subtype
Multi-Family / Triplex
Zoning
R1
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$7,975
Amenities
refrigerated air
Yes
Washer, Free-Standing Gas Oven, Dryer
.00
Shingle
Building Details
Year Built
1987
Buildings
1
Listing Agency:
The Broker Sponsor Corporation
(915) 494-7233
Listed By:
Cristina Moreno · License #0759541
Source:
Compass
Added: Sep 22, 2025
Changed: Aug 30
Last Checked: Aug 30 at 11:51AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of The Broker Sponsor Corporation
Investment Insights
Based on property information with market context.
Built in 1987, this 2,244-square-foot triplex includes refrigerated air and flooring without carpet. The property is configured as three residential units and includes washer and dryer appliances along with a free-standing gas oven. Shingle roofing is also noted.
Located at 11531 Ernest Road, Unit 13, in Socorro, the property is within walking distance of a school and Main Socorro Road. R1 zoning applies to the site.
Located at 11531 Ernest Road, Unit 13, in Socorro, the property is within walking distance of a school and Main Socorro Road. R1 zoning applies to the site.
Key Highlights
- 2,244‑square‑foot triplex with three residential units
- Refrigerated air conditioning
- No carpet throughout the property
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$18,609
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.21%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$372,180
$372.2K
Cap Rate 7%
$265,843
$265.8K
Cap Rate 9%
$206,767
$206.8K
Market Conditions
NOI Build-Up for 2,244 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$28.3K $12.60/SF
− Vacancy
−$1.7K −$0.75/SF
EGI
$26.6K $11.85/SF
− OpEx
−$8.0K −$3.55/SF
NOI
$18.6K $8.29/SF
Area
El Paso County, TX
Vacancy
5.98%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$372,180
Cap Rate 7%
$265,843
Cap Rate 9%
$206,767
Alternative Uses
Best Use
Multifamily LT 5
$265.8K
$232.6K – $310.2K
NOI $18,609 @ 7.0% cap · market cap 6.21%
Second Best
Apartment 5plus
$243.8K
$213.4K – $284.5K
NOI $17,069 @ 7.0% cap · market cap 5.70%
Theoretical Best
Office A
$405.5K
$354.8K – $473.1K
NOI $28,387 @ 7.0% cap · market cap 9.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
141
Businesses Nearby
Explore this area
Business Placement
Demographics for 79927, TX
40,290
Population
14,284
Households
2.8
Avg Household Size
35
Median Age
10%
College-Educated
70%
High-School Grad
27.4 sq mi
ZIP Area
1,470
Density / Sq Mi
$51,735
Median Household Income
$30,738
Median Earnings
$1,070
Median Rent
$125,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three-unit property with refrigerated air, hard-surface flooring, and in-unit laundry appliances.
Where is this triplex located?
The property is located at 11531 Ernest Road Unit 13 Socorro, TX.
What is the asking price?
The asking price for this property is $299,500.
What are key features of this property?
This property features: 2,244‑square‑foot triplex with three residential units; Refrigerated air conditioning; No carpet throughout the property
