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    Flex Space with Garage Bays Title is generated by Realmo AI

    1500 WYOMING Avenue, El Paso, TX 79902

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    For Sale
    $505,000

    COMMERCIAL - El Paso, TX

    Property size:
    2,965 SF
    Lot size:
    0.11 Acres
    Price / SF:
    $170/SF
    Added:
    Jan 28, 2026
    Days on Market:
    127
    Last Refresh:
    Jun 4 at 12:06 am

    Property Features for 1500 WYOMING Avenue

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    C4
    Fireplace
    1
    Standard status
    Active
    APN
    F60799904200150
    Lot size
    0.11 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    42 FRANKLIN HEIGHTS 1 & 2 (EXC SLY 26.50 ST) (4675.00 SQ FT)
    Tax Annual Amount
    3590

    Utilities

    Heating system
    Central

    Building Details

    Floors in Building
    1
    Building materials
    Brick

    We can help!

    Listing Contact
    Hilda Cisneros
    Hilda Cisneros

    Listing agent Hilda Cisneros License #630854

    Listing office Hiett & Associatees 5200 N Mesa St Suite B104, El Paso, TX

    Listing date Jan 28, 2026

    MLS# 937333

    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

    • Corner commercial property with 2,965 SF total space
    • 15‑ft ceilings plus a spacious front receiving area for waiting and reception
    • Flexible layout with two private offices and direct access to an expansive warehouse bay area
    • Includes central heating and a fireplace
    • 3 garage bays and ample on‑site parking
    • Suitable for retail, office, showroom, studio, fitness, warehouse, or automotive‑related uses

    Overview

    This corner commercial flex space offers a practical mix of front office and service/warehouse use. The layout starts with a spacious front receiving area suitable for a waiting and reception setup, followed by two private offices. From there, the space provides seamless access into an expansive warehouse bay area designed to support work and storage needs. Additional key features include 15-ft ceilings and three garage bays, along with ample on-site parking.

    Located in El Paso, Texas (79902) and identified under C4 zoning, the property is positioned near downtown and key international crossings, including the Paso del Norte Port of Entry and the Bridge of the Americas. Its corner positioning and visibility in a high-traffic area are well-suited for businesses that benefit from storefront presence and customer access.

    The space can accommodate a range of owner-user and business models, including retail, office, showroom, studio, fitness, and warehouse-oriented operations, as well as automotive-related uses such as a mechanic or tire shop. For operators who need both a customer-facing front and a functional back area with garage bays and warehouse access, this configuration supports day-to-day workflow in a single facility.

    Local Financial Insights For Office B

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $61.6k $20.76
    − Vacancy −$11.5k −$3.88
    EGI $50.0k $16.88
    − OpEx −$12.5k −$4.22
    NOI $37.5k $12.66
    2,965 SF · lease $20.76/SF/yr · vacancy 18.70% · expense 25.00%

    Alternative Uses

    Best Use
    Office B
    $536.2K
    $469.2K – $625.5K (±1% cap)
    NOI $37,532 @ 7.0% cap · market cap 7.43%
    Second Best
    Retail
    $480.3K
    $420.3K – $560.4K (±1% cap)
    NOI $33,623 @ 7.0% cap · market cap 6.66%
    Theoretical Best
    Office A
    $743.8K
    $650.9K – $867.8K (±1% cap)
    NOI $52,069 @ 7.0% cap · market cap 10.31%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Fire Service Equipment Fire Station

    Suggested Use

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

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

    Similar Places Nearby

    • Catering Solutions, Inc. — 607 Noble St, El Paso, TX 79902
    • The Basil Garden — 100 W Rio Grande Ave, El Paso, TX 79902
    • Abyssinia Ethio Kitchen — 221 N Kansas St Suite 700 - #7800, El Paso, TX 79901

    Location Insight

    • Map
    • Local Demand
    City
    El Paso
    County
    El Paso
    State
    Texas
    Longitude
    -106.477219
    Latitude
    31.770625

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    FAQs

    What type of property is this?
    Flex space - Corner flex space with reception offices, warehouse bay, 15-ft ceilings, and three garage bays for auto or light industrial needs.
    Where is this flex space located?
    The property is located at 1500 WYOMING Avenue El Paso, TX.
    What is the asking price?
    The asking price for this property is $505,000.
    What are key features of this property?
    This property features: Corner commercial property with 2,965 SF total space; 15‑ft ceilings plus a spacious front receiving area for waiting and reception; Flexible layout with two private offices and direct access to an expansive warehouse bay area
    (915) 247-8845
    We can help!
    Listing Contact
    Hilda Cisneros
    Hilda Cisneros
    Real Estate License ID: 630854
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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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