El Paso Industrial Flex
For Sale
Contact for pricing
1805-1831 Myrtle Ave, El Paso, TX 79901
21,000 SF industrial space on 0.82 acres in El Paso.
Property Size21,000 SF
Lot Size0.82 Acres
Price / SF$57.14
Days on Market172
Property Features for 1805-1831 Myrtle Ave
General Information
Standard status
Active
Size
21,000 SF
Class
C
Lot size
0.82 Acres
Property subtype
Industrial
Zoning
M1 - Light Industrial
Building Details
Year Built
1920
Buildings
1
Units
3
Listing Agency:
Marcus & Millichap - San Antonio
(972) 755-5200
Listed By:
Ernesto Melgar Campos · License #TX: 788700
Source:
Crexi
Added: Mar 10
Changed: Aug 14
Last Checked: Aug 14 at 6:04AM
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 Marcus & Millichap - San Antonio
Investment Insights
Based on property information with market context.
The property at 1805-1831 Myrtle Avenue in El Paso, Texas, offers approximately 21,000 square feet of industrial space on a 0.82-acre lot. This multi-tenant asset features clear heights ranging from 12 to 17 feet, five drive-in doors, and three HVAC units. It is equipped with three-phase heavy power at 240 volts and includes 12 parking spaces, along with 0.32 acres of usable yard space. The property, located along a BNSF/Union Pacific rail spur, provides convenient access to Interstate 10 in the Central submarket. The property was fully renovated in 2025, with interior and exterior upgrades including a new TPO roof, as reported by the seller. The vacant property is easily divisible and suitable for either single-occupant use or as a multi-tenant lease-up opportunity.
Key Highlights
- Fully renovated in 2025, including a new TPO roof (reported by seller).
- 21,000 square feet of industrial space on 0.82 acres.
- Easily divisible for single‑occupant or multi‑tenant use.
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
$99,908
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
8.33%
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%
$1,998,160
$2.0M
Cap Rate 7%
$1,427,257
$1.4M
Cap Rate 9%
$1,110,089
$1.1M
Market Conditions
NOI Build-Up for 21,000 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
$158.8K $7.56/SF
− Vacancy
−$16.0K −$0.76/SF
EGI
$142.7K $6.80/SF
− OpEx
−$42.8K −$2.04/SF
NOI
$99.9K $4.76/SF
Area
El Paso, TX
Vacancy
10.10%
Lease Rate
$7.56 /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%
$1,998,160
Cap Rate 7%
$1,427,257
Cap Rate 9%
$1,110,089
Alternative Uses
Best Use
Flex RnD
$1.75M
$1.53M – $2.04M
NOI $122,223 @ 7.0% cap · market cap 10.19%
Second Best
Industrial
$1.43M
$1.25M – $1.67M
NOI $99,908 @ 7.0% cap · market cap 8.33%
Theoretical Best
Office A
$5.27M
$4.61M – $6.15M
NOI $368,789 @ 7.0% cap · market cap 30.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,886
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 79901, TX
10,027
Population
4,571
Households
2.2
Avg Household Size
40
Median Age
7%
College-Educated
46%
High-School Grad
2.2 sq mi
ZIP Area
4,558
Density / Sq Mi
$13,984
Median Household Income
$19,026
Median Earnings
$517
Median Rent
$93,100
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?
Flex space - 21,000 SF industrial space on 0.82 acres in El Paso.
Where is this flex space located?
The property is located at 1805-1831 Myrtle Ave 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: Fully renovated in 2025, including a new TPO roof (reported by seller).; 21,000 square feet of industrial space on 0.82 acres.; Easily divisible for single‑occupant or multi‑tenant use.
