Multi-Building Warehouse
For Sale
Contact for pricing
3453 Lee Blvd, El Paso, TX 79936
Industrial property on M1 zoning with three warehouse buildings and multiple grade-level doors totaling 19,824 square feet.
Property Size19,824 SF
Lot Size2.44 Acres
Price / SF$126.11
Days on Market508
Property Features for 3453 Lee Blvd
General Information
Standard status
Active
Size
19,824 SF
Lot size
2.44 Acres
Property subtype
INDUSTRIAL
Zoning
M1
Additional Details
Drive-In Doors
18
Building Details
Tenancy
Multi
Listing Agency:
RC Properties
(915) 549-1770
Listed By:
Michael Bray · License #0385615
(915) 549-1770
Source:
Moodyscre
Added: Mar 19, 2025
Changed: Jul 27
Last Checked: Aug 7 at 8:50AM
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 RC Properties
Investment Insights
Based on property information with market context.
This M1-zoned industrial property includes three warehouse buildings totaling approximately 19,824 square feet on a 2.44-acre site. Building 1 was built in 1960 and offers approximately 10,164 square feet with eight grade-level doors. Building 2 was built in 1982 with approximately 4,260 square feet and four grade-level doors. Building 3 was built in 2010 with approximately 5,400 square feet and six grade-level doors.
The site measures approximately 170 by 625 feet and is located on Lee Blvd between Edgemere and Montana. The owner occupies roughly one-third of the property, and the remaining space is leased to eight tenants providing $96,600 in annual rental income.
The asset is configured for warehouse operations across multiple buildings, with grade-level doors supporting loading and access needs.
The site measures approximately 170 by 625 feet and is located on Lee Blvd between Edgemere and Montana. The owner occupies roughly one-third of the property, and the remaining space is leased to eight tenants providing $96,600 in annual rental income.
The asset is configured for warehouse operations across multiple buildings, with grade-level doors supporting loading and access needs.
Key Highlights
- M1‑zoned industrial site on Lee Blvd between Edgemere and Montana, with 3 buildings on 2.44 acres
- Three warehouse buildings totaling 19,824 SF: Bldg 1 (1960) 10,164 SF; Bldg 2 (1982) 4,260 SF; Bldg 3 (2010) 5,400 SF
- Multiple grade‑level doors: Bldg 1 has 8; Bldg 2 has 4; Bldg 3 has 6
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
$114,523
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
4.58%
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%
$2,290,460
$2.3M
Cap Rate 7%
$1,636,043
$1.6M
Cap Rate 9%
$1,272,478
$1.3M
Market Conditions
NOI Build-Up for 19,824 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
$149.9K $7.56/SF
− Vacancy
−$15.1K −$0.76/SF
EGI
$134.7K $6.80/SF
− OpEx
−$20.2K −$1.02/SF
NOI
$114.5K $5.78/SF
Area
ZIP 79936
Vacancy
10.10%
Lease Rate
$7.56 /SF/Yr
Expense Ratio
15.00%
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%
$2,290,460
Cap Rate 7%
$1,636,043
Cap Rate 9%
$1,272,478
Alternative Uses
Best Use
Warehouse
$1.64M
$1.43M – $1.91M
NOI $114,523 @ 7.0% cap · market cap 4.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.19M
$3.67M – $4.89M
NOI $293,590 @ 7.0% cap · market cap 11.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
18
Drive-in doors
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
380
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 Industrial in El Paso, TX
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - Industrial property on M1 zoning with three warehouse buildings and multiple grade-level doors totaling 19,824 square feet.
Where is this warehouse located?
The property is located at 3453 Lee Blvd El Paso, TX.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: M1‑zoned industrial site on Lee Blvd between Edgemere and Montana, with 3 buildings on 2.44 acres; Three warehouse buildings totaling 19,824 SF: Bldg 1 (1960) 10,164 SF; Bldg 2 (1982) 4,260 SF; Bldg 3 (2010) 5,400 SF; Multiple grade‑level doors: Bldg 1 has 8; Bldg 2 has 4; Bldg 3 has 6
