Dock-High Warehouse
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For Sale
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2015 E Mills Ave, El Paso, TX 79901
Tilt-up industrial building with a reception area, dock-high loading, and convenient access to I-10.
Property Size45,000 SF
Price / SF$66.31
Days on Market5
Property Features for 2015 E Mills Ave
General Information
Standard status
Active
Size
45,000 SF
Property subtype
INDUSTRIAL
Additional Details
Highway Access
Yes
Clear Height
19 ft
Amenities
reception/waiting area
Building Details
Construction
tilt-up concrete
Listing Agency:
JLL
(213) 239-6000
Listed By:
Lalo Diaz · License #1938814
(213) 239-6179
Source:
Moodyscre
Added: Sep 7
Changed: Sep 9
Last Checked: Sep 10 at 10:08AM
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 JLL
Investment Insights
Based on property information with market context.
This 45,000-square-foot warehouse in El Paso features tilt-up construction, dock-high loading, and 19-foot clear height. The building also includes a reception and waiting area, providing a defined entry experience alongside its industrial functionality.
Located at 2015 E Mills Ave, the property offers access to I-10 within an established industrial area. Its combination of warehouse scale, loading capability, clear height, and customer-facing reception space supports a range of commercial and distribution-oriented uses.
Located at 2015 E Mills Ave, the property offers access to I-10 within an established industrial area. Its combination of warehouse scale, loading capability, clear height, and customer-facing reception space supports a range of commercial and distribution-oriented uses.
Key Highlights
- 45,000‑square‑foot warehouse building
- Tilt‑up construction
- Dock‑high loading
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
$259,964
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
8.71%
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%
$5,199,280
$5.2M
Cap Rate 7%
$3,713,771
$3.7M
Cap Rate 9%
$2,888,489
$2.9M
Market Conditions
NOI Build-Up for 45,000 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
$340.2K $7.56/SF
− Vacancy
−$34.4K −$0.76/SF
EGI
$305.8K $6.80/SF
− OpEx
−$45.9K −$1.02/SF
NOI
$260.0K $5.78/SF
Area
El Paso, TX
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%
$5,199,280
Cap Rate 7%
$3,713,771
Cap Rate 9%
$2,888,489
Alternative Uses
Best Use
Warehouse
$3.71M
$3.25M – $4.33M
NOI $259,964 @ 7.0% cap · market cap 8.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$11.29M
$9.88M – $13.17M
NOI $790,262 @ 7.0% cap · market cap 26.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
19 ft
Clear height
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,141
Businesses Nearby
Balanced
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- I E H Logistics — El Paso, TX 79905
- L A Warehouse — 2000 E Paisano Dr, El Paso, TX 79905
- EMI Export Nacional — 623 Langtry St, El Paso, TX 79902
- Alba Cold Storage — 1705 E Mills Ave, El Paso, TX 79901
- ELIS Warehouse — 307 N San Marcial St, El Paso, TX 79905
Frequently Asked Questions
What type of property is this?
Warehouse - Tilt-up industrial building with a reception area, dock-high loading, and convenient access to I-10.
Where is this warehouse located?
The property is located at 2015 E Mills Ave El Paso, TX.
What is the asking price?
The asking price for this property is $2,984,000.
What are key features of this property?
This property features: 45,000‑square‑foot warehouse building; Tilt‑up construction; Dock‑high loading
