New
For Sale
$1,400,000
2015 Myrtle Ave, El Paso, TX 79901
15,000 Sq. Ft. Commercial Bldg
Property Size15,000 SF
Lot Size0.35 Acres
Price / SF$93.33
Days on Market2
Property Features for 2015 Myrtle Ave
General Information
Standard status
Active
Property type
Other industrial properties, Distribution centers, Self storage facilities, Industrial properties, Warehouses
Size
15,000 SF
Elevators
No
Lot size
0.35 Acres
Sale Condition
Shell Condition
Building Details
Year Built
1964
Year Renovated
2002
Buildings
1
Stories
1
Units
1
Listing Agency:
(915) 920-2537
Listed By:
Gloria
(915) 920-2537
Added: Aug 25
Investment Insights
Based on property information with market context.
Key Highlights
- 15,000 sq. ft., zoned C‑4, allowing for a wide variety of business operations. Situated close to downtown El Paso, major I‑10 highway and International Bridge to Cuidad Juarez, Mexico. With 250 volt outlet.
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
$86,655
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
6.19%
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%
$1,733,100
$1.7M
Cap Rate 7%
$1,237,929
$1.2M
Cap Rate 9%
$962,833
$962.8K
Market Conditions
NOI Build-Up for 15,000 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
$113.4K $7.56/SF
− Vacancy
−$11.5K −$0.76/SF
EGI
$101.9K $6.80/SF
− OpEx
−$15.3K −$1.02/SF
NOI
$86.7K $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%
$1,733,100
Cap Rate 7%
$1,237,929
Cap Rate 9%
$962,833
Alternative Uses
Best Use
Self Storage
$1.99M
$1.74M – $2.32M
NOI $139,104 @ 7.0% cap · market cap 9.94%
Second Best
Warehouse
$1.24M
$1.08M – $1.44M
NOI $86,655 @ 7.0% cap · market cap 6.19%
Theoretical Best
Office A
$3.76M
$3.29M – $4.39M
NOI $263,421 @ 7.0% cap · market cap 18.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,105
Businesses Nearby
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.
Frequently Asked Questions
What type of property is this?
Industrial property - 15,000 Sq. Ft. Commercial Bldg
Where is this industrial property located?
The property is located at 2015 Myrtle Ave El Paso, TX.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: 15,000 sq. ft., zoned C‑4, allowing for a wide variety of business operations. Situated close to downtown El Paso, major I‑10 highway and International Bridge to Cuidad Juarez, Mexico. With 250 volt outlet.
