Remodeled Medical Office
For Sale
$1,200,000
11621 Pellicano Dr, El Paso, TX 79936
Turn-key medical office in East El Paso's growing commercial corridor.
Property Size3,025 SF
Price / SF$396.69
Days on Market174
Property Features for 11621 Pellicano Dr
General Information
Standard status
Active
Size
3,025 SF
Listing Agency:
Guerrero & Associates
(915) 926-9458
Listed By:
Miriam Jimenez · License #562434
(915) 926-9458
Source:
Exprealty
Added: Mar 11
Changed: Aug 25
Last Checked: Aug 30 at 10:30PM
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 Guerrero & Associates
Investment Insights
Based on property information with market context.
This remodeled medical office building is located in East El Paso's rapidly growing commercial corridor. The property features modern finishes and a functional medical layout. It offers excellent visibility and an abundance of parking spaces. The property is suitable for medical, dental, wellness, aesthetics, urgent care, specialty practice, or professional office use. It provides convenient access to major roads, surrounding neighborhoods, and expanding retail and residential developments. The property offers long-term potential in one of El Paso’s most active growth areas. The building size is 3025 square feet.
Key Highlights
- Turn‑key, beautifully remodeled medical office building with modern finishes.
- Excellent visibility and abundant parking spaces.
- Functional medical layout suitable for various medical or professional uses.
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
$35,066
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
2.92%
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%
$701,320
$701.3K
Cap Rate 7%
$500,943
$500.9K
Cap Rate 9%
$389,622
$389.6K
Market Conditions
NOI Build-Up for 3,025 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
$63.5K $21.00/SF
− Vacancy
−$5.1K −$1.68/SF
EGI
$58.4K $19.32/SF
− OpEx
−$23.4K −$7.73/SF
NOI
$35.1K $11.59/SF
Area
ZIP 79936
Vacancy
8.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
40.00%
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%
$701,320
Cap Rate 7%
$500,943
Cap Rate 9%
$389,622
Alternative Uses
Best Use
Healthcare Medical
$500.9K
$438.3K – $584.4K
NOI $35,066 @ 7.0% cap · market cap 2.92%
Second Best
Office B
$480.1K
$420.1K – $560.2K
NOI $33,609 @ 7.0% cap · market cap 2.80%
Theoretical Best
Office A
$640.0K
$560.0K – $746.7K
NOI $44,800 @ 7.0% cap · market cap 3.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
931
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 79936, TX
105,150
Population
36,825
Households
2.9
Avg Household Size
37
Median Age
28%
College-Educated
86%
High-School Grad
25.9 sq mi
ZIP Area
4,060
Density / Sq Mi
$64,958
Median Household Income
$32,862
Median Earnings
$1,214
Median Rent
$169,500
Median Home Value
Market
Vacancy Rate% for Office in El Paso, TX
Questions? Ask Rey
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Similar Off Market Nearby
- Dr. Christopher Hopp — 11635 Pellicano Dr, El Paso, TX 79936
- Desert East Animal Hospital — 11635 Pellicano Dr, El Paso, TX 79936
- Desert East Animal Hospital: Nenni Katharine DVM — 11635 Pellicano Dr, El Paso, TX 79936
Frequently Asked Questions
What type of property is this?
Medical Office Space - Turn-key medical office in East El Paso's growing commercial corridor.
Where is this medical office space located?
The property is located at 11621 Pellicano Dr El Paso, TX.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Turn‑key, beautifully remodeled medical office building with modern finishes.; Excellent visibility and abundant parking spaces.; Functional medical layout suitable for various medical or professional uses.
