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    5305 Montana Ave El Paso, TX 79903

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    For Sale
    $3,595,000

    Long-term NNN leased CVS Pharmacy in El Paso, Texas.

    Property size:
    9,516 SF
    Lot size:
    1.30 Acres

    Property Features for 5305 Montana Ave

    General Information

    Standard status
    Active
    Size
    9,516 SF
    Lot size
    1.30 Acres

    Building Details

    Year built
    2017

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    Listing Contact
    Christopher Sheldon
    Christopher Sheldon
    Source: Crexi

    Listing Agency: Cushman & Wakefield - San Francisco, California Listing Agent: Christopher Sheldon

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Freestanding CVS Pharmacy Ground Lease

    This commercial real estate offering features a long-term absolute NNN leased CVS Pharmacy ground lease investment opportunity in El Paso, Texas. Completed in 2017, the property includes a 1.30-acre parcel improved with a 9,516 square-foot freestanding CVS Pharmacy with a drive-thru. The property is ground leased to CVS Pharmacy through January 31, 2043, with nine five-year renewal options, each including 10% rent increases. The lease is absolute net (NNN), with the tenant responsible for all taxes, insurance, and maintenance, including roof and structure. The property is strategically located at the high-traffic signalized intersection of Montana Avenue and Chelsea Street, with combined traffic counts exceeding 27,100 vehicles per day. It is also located less than 2 miles from the Bridge of the Americas (BOTA). Montana Avenue is a major east-west arterial connecting East El Paso with the broader regional transportation network, while Interstate 10 and US Highway 54 (Patriot Fwy) provide direct access to Downtown El Paso, Fort Bliss, El Paso International Airport, and the U.S.–Mexico border. The immediate area includes multiple shopping centers anchored by Target, Costco, Albertson’s, and Kohl’s, and numerous auto dealerships for Ford, Chevrolet, Nissan, Kia, BMW, Audi and Toyota. Neighboring tenants at the intersection include Walgreen’s, Dutch Bros, Albertson’s, Wingstop, Jack in the Box, Subway, and Pizza Hut.
    Location Intelligence

    Current Use by Public Records

    CVS Photo (Bike/Boat/Book/etc) Store CDReload - Online Bitcoin ... Crypto Atm LibertyX Bitcoin ATM Atm CVS Pharmacy Pharmacy UPS Access Point ... Courier Service

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    Walgreens Pharmacy, San Pedro Thrifty Pharmacy, El Paso Pain Center Pharmacy, Michael Jensen Supplies, TIA Brows & Beauty

    Location Insight

    • Map
    • Local Demand
    City
    El Paso
    County
    El Paso
    State
    Texas
    Longitude
    -106.425809
    Latitude
    31.783943

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    FAQs

    What type of property is this?
    Drug store - Long-term NNN leased CVS Pharmacy in El Paso, Texas.
    Where is this drug store located?
    The property is located at 5305 Montana Ave El Paso, TX.
    What is the asking price?
    The asking price for this property is $3,595,000.
    What are key features of this property?
    This property features: - Long-term absolute NNN ground lease with CVS Pharmacy through January 31, 2043.; - Located at a high-traffic, signalized intersection with over 27,100 VPD.; - Features nine (9) five-year renewal options with 10% rent increases at the start of each option.
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    5305 Montana Ave El Paso, TX 79903
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    El Paso, TX 79903
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    5305 Montana Ave El Paso, TX 79903
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    We can help!
    Listing Contact
    Christopher Sheldon
    Christopher Sheldon
    Real Estate License ID: 01806345
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