Mixed-Use Property with
For Sale
$374,900
1600 WYOMING Avenue, El Paso, TX 79902
Commercial Sale, El Paso, TX
Property Size3,547 SF
Lot Size0.10 Acres
Price / SF$180.85
Days on Market139
Property Features for 1600 WYOMING Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C4
Parking features
On Street
Fireplace
1
Subdivision
Franklin Heights
Standard status
Active
APN
F60799905100100
Lot size
0.10 Acres
Taxes and HOA fees
Tax Description
51 FRANKLIN HEIGHTS 1 & W 1/2 OF 2 (4500 SQ FT)
Legal Description
51 FRANKLIN HEIGHTS 1 & W 1/2 OF 2 (4500 SQ FT)
Utilities
Heating system
Central
Cooling system
Multi Units, Evaporative Cooling
Building Details
Floors in Building
1
Additional Structures
Storage
Listing Agency:
Moreno Real Estate Group
(915) 201-3030
Listed By:
Christopher Rodriguez · License #0749558
(915) 215-0937
Added: Apr 23
Changed: Sep 4
Last Checked: Sep 8 at 9:06AM
MLS# 942692
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.
Investment Insights
Based on property information with market context.
This mixed-use property combines a commercial area at the front, two studio apartments within the central section, and a workshop at the rear. The commercial portion is configured for office, professional-service, church, or similar business use, while the apartments have separate gas meters. The rear workshop previously supported sheet metal and sign fabrication activity and can accommodate industrial or creative functions.
The property is located at 1600 Wyoming Avenue in El Paso’s Central/Franklin Heights area. Recent work includes new ductwork in Apartment A and updated electrical systems throughout the building. Heating is central, cooling includes evaporative cooling and multiple units, and parking is available on the street. The site measures 0.1 acres and carries C4 zoning.
The property is located at 1600 Wyoming Avenue in El Paso’s Central/Franklin Heights area. Recent work includes new ductwork in Apartment A and updated electrical systems throughout the building. Heating is central, cooling includes evaporative cooling and multiple units, and parking is available on the street. The site measures 0.1 acres and carries C4 zoning.
Key Highlights
- 3,547‑square‑foot mixed‑use property with commercial, residential, and workshop areas
- Front commercial section contains approximately 2,073 square feet
- Two studio apartments, each with a separate gas meter
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
$26,241
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
7.00%
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%
$524,820
$524.8K
Cap Rate 7%
$374,871
$374.9K
Cap Rate 9%
$291,567
$291.6K
Market Conditions
NOI Build-Up for 2,073 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
$43.0K $20.76/SF
− Vacancy
−$8.0K −$3.88/SF
EGI
$35.0K $16.88/SF
− OpEx
−$8.7K −$4.22/SF
NOI
$26.2K $12.66/SF
Area
El Paso, TX
Vacancy
18.70%
Lease Rate
$20.76 /SF/Yr
Expense Ratio
25.00%
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%
$524,820
Cap Rate 7%
$374,871
Cap Rate 9%
$291,567
Alternative Uses
Best Use
Office B
$374.9K
$328.0K – $437.4K
NOI $26,241 @ 7.0% cap · market cap 7.00%
Second Best
Mixed Use
$351.8K
$307.8K – $410.5K
NOI $24,627 @ 7.0% cap · market cap 6.57%
Theoretical Best
Office A
$520.1K
$455.1K – $606.8K
NOI $36,405 @ 7.0% cap · market cap 9.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,538
Businesses Nearby
Explore this area
Business Placement
Demographics for 79902, TX
20,071
Population
9,752
Households
2.1
Avg Household Size
38
Median Age
39%
College-Educated
81%
High-School Grad
6.5 sq mi
ZIP Area
3,088
Density / Sq Mi
$45,333
Median Household Income
$33,495
Median Earnings
$777
Median Rent
$223,300
Median Home Value
Market
Vacancy Rate% for Office in El Paso, TX
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Combined commercial, studio apartment, and workshop spaces occupy one C4-zoned property.
Where is this mixed-use property located?
The property is located at 1600 WYOMING Avenue El Paso, TX.
What is the asking price?
The asking price for this property is $374,900.
What are key features of this property?
This property features: 3,547‑square‑foot mixed‑use property with commercial, residential, and workshop areas; Front commercial section contains approximately 2,073 square feet; Two studio apartments, each with a separate gas meter
