Flex Warehouse with Office
For Sale
$1,650,000
2401 Alameda Ave, El Paso, TX 79901
Flex warehouse featuring office space, dock doors, and skylights.
Property Size25,550 SF
Price / SF$64.58
Days on Market163
Property Features for 2401 Alameda Ave
General Information
Standard status
Active
Size
25,550 SF
Listing Agency:
Team Juan Uribe
(915) 478-9905
Listed By:
Sebastian Alcazar · License #20228
(915) 478-9905
Source:
Exprealty
Added: Mar 17
Changed: Aug 25
Last Checked: Aug 26 at 1:36PM
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 Team Juan Uribe
Investment Insights
Based on property information with market context.
This flex warehouse offers a versatile space suitable for various commercial purposes. The property features ceiling clear heights of over 20 feet, with a low point of 17.5 feet. It includes three dock-high doors and an indoor ramp to facilitate loading and unloading. Natural skylights provide ample illumination throughout the building. Approximately 6,000 square feet of built-out office space is ready for immediate use. Multiple water closet facilities are available in both the mezzanine and downstairs offices, including handicap-accessible bathrooms. An additional 4,600-square-foot area above the covered parking can be utilized for extra storage or other purposes. The total property size is 25,550 square feet.
Key Highlights
- 20 ft+ ceiling clear heights (low point 17.5 ft) ideal for various storage and operational needs.
- Approximately 6,000 sq ft of built‑out office space ready for immediate use.
- Includes 3 dock‑high doors with an indoor ramp for easy loading and unloading.
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
$148,704
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
9.01%
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%
$2,974,080
$3.0M
Cap Rate 7%
$2,124,343
$2.1M
Cap Rate 9%
$1,652,267
$1.7M
Market Conditions
NOI Build-Up for 25,550 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
$254.5K $9.96/SF
− Vacancy
−$25.7K −$1.01/SF
EGI
$228.8K $8.95/SF
− OpEx
−$80.1K −$3.13/SF
NOI
$148.7K $5.82/SF
Area
El Paso, TX
Vacancy
10.10%
Lease Rate
$9.96 /SF/Yr
Expense Ratio
35.00%
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%
$2,974,080
Cap Rate 7%
$2,124,343
Cap Rate 9%
$1,652,267
Alternative Uses
Best Use
Flex RnD
$2.12M
$1.86M – $2.48M
NOI $148,704 @ 7.0% cap · market cap 9.01%
Second Best
Industrial
$1.74M
$1.52M – $2.03M
NOI $121,554 @ 7.0% cap · market cap 7.37%
Theoretical Best
Office A
$6.41M
$5.61M – $7.48M
NOI $448,693 @ 7.0% cap · market cap 27.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,831
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 - Flex warehouse featuring office space, dock doors, and skylights.
Where is this flex space located?
The property is located at 2401 Alameda Ave El Paso, TX.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: 20 ft+ ceiling clear heights (low point 17.5 ft) ideal for various storage and operational needs.; Approximately 6,000 sq ft of built‑out office space ready for immediate use.; Includes 3 dock‑high doors with an indoor ramp for easy loading and unloading.
