Turnkey Restaurant in Manhattan
For Sale
Contact for pricing
2506 N Piedras St, El Paso, TX 79930
Fully equipped restaurant in El Paso's historic Manhattan Heights.
Property Size1,052 SF
Price / SF$299.43
Days on Market185
Property Features for 2506 N Piedras St
General Information
Standard status
Active
Size
1,052 SF
Class
B
Property subtype
Retail
Zoning
C2
Building Details
Stories
1
Listing Agency:
Cap Rate Real Estate Group
(915) 443-8859
Listed By:
Anibal Olague · License #TX 0653430
Source:
Crexi
Added: Feb 11
Changed: Aug 8
Last Checked: Aug 11 at 11:31AM
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 Cap Rate Real Estate Group
Investment Insights
Based on property information with market context.
This is a turnkey, fully equipped restaurant opportunity located in the heart of Central El Paso's historic Manhattan Heights district. The property offers 1,052 square feet of space and is positioned on a major north-south artery connecting vital community hubs. The space is well-kept and includes a commercial exhaust hood. The location offers visibility and customer traffic, situated moments from Austin High School and Memorial Park, which may capture the daily lunch rush from local faculty and students. Located on the same street as the El Paso VA Medical Center, it provides a connection for medical staff and visitors seeking dining options.
Key Highlights
- Turnkey, fully equipped restaurant space drastically reduces startup costs.
- Prime location in Central El Paso's historic Manhattan Heights district.
- High‑quality commercial exhaust hood included.
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
$15,679
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
4.98%
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%
$313,580
$313.6K
Cap Rate 7%
$223,986
$224.0K
Cap Rate 9%
$174,211
$174.2K
Market Conditions
NOI Build-Up for 1,052 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
$22.7K $21.60/SF
− Vacancy
−$1.8K −$1.73/SF
EGI
$20.9K $19.87/SF
− OpEx
−$5.2K −$4.97/SF
NOI
$15.7K $14.90/SF
Area
El Paso, TX
Vacancy
8.00%
Lease Rate
$21.60 /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%
$313,580
Cap Rate 7%
$223,986
Cap Rate 9%
$174,211
Alternative Uses
Best Use
Specialty Retail
$224.0K
$196.0K – $261.3K
NOI $15,679 @ 7.0% cap · market cap 4.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$263.9K
$230.9K – $307.9K
NOI $18,475 @ 7.0% cap · market cap 5.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
502
Businesses Nearby
11k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Circle K
Shops & Services
10,523 visits/mo
0.1 miles
Demographics for 79930, TX
24,553
Population
11,729
Households
2.1
Avg Household Size
40
Median Age
16%
College-Educated
75%
High-School Grad
7.5 sq mi
ZIP Area
3,274
Density / Sq Mi
$41,826
Median Household Income
$24,903
Median Earnings
$909
Median Rent
$124,000
Median Home Value
Market
Vacancy Rate% for Retail in El Paso, TX
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Fully equipped restaurant in El Paso's historic Manhattan Heights.
Where is this conventional restaurant located?
The property is located at 2506 N Piedras St El Paso, TX.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: Turnkey, fully equipped restaurant space drastically reduces startup costs.; Prime location in Central El Paso's historic Manhattan Heights district.; High‑quality commercial exhaust hood included.
