Restaurant, Apartments, and Warehouse
For Sale
Contact for pricing
6928 Third St, Canutillo, TX 79835
Mixed-use property featuring a restaurant, apartments, and warehouse space.
Property Size2,589 SF
Price / SF$115.49
Days on Market960
Property Features for 6928 Third St
General Information
Standard status
Active
Size
2,589 SF
Class
C
Property subtype
Mixed Use, Multifamily, Retail
Zoning
Unincorporated
Building Details
Year Built
1986
Stories
1
Units
4
Listing Agency:
ERA Sellers & Buyers Real Estate
Listed By:
Albert Lugo · License #TX 583648
Source:
Crexi
Added: Jan 12, 2024
Changed: Aug 27
Last Checked: Aug 29 at 3:58AM
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 ERA Sellers & Buyers Real Estate
Investment Insights
Based on property information with market context.
This mixed-use property features a fully equipped restaurant, two apartments, and flexible warehouse space. The property is located near Doniphan Drive and Talbot Ave. The restaurant and warehouse offer approximately 2,600 square feet, which can be transformed into extra seating if needed. There is 1,200 square feet of residential space, including two apartments. Each unit is approximately 600 square feet and features one bedroom and one bathroom. The total property size is 2,589 square feet.
Key Highlights
- Fully equipped restaurant with 2,600 sq ft.
- Includes two 1‑bedroom, 1‑bath apartments (1,200 sq ft total).
- Features flexible warehouse space (2,600 sq ft).
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
$21,469
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
7.18%
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%
$429,380
$429.4K
Cap Rate 7%
$306,700
$306.7K
Cap Rate 9%
$238,544
$238.5K
Market Conditions
NOI Build-Up for 2,589 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
$32.6K $12.60/SF
− Vacancy
−$2.0K −$0.75/SF
EGI
$30.7K $11.85/SF
− OpEx
−$9.2K −$3.55/SF
NOI
$21.5K $8.29/SF
Area
El Paso County, TX
Vacancy
5.98%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
30.00%
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%
$429,380
Cap Rate 7%
$306,700
Cap Rate 9%
$238,544
Alternative Uses
Best Use
Mixed Use
$439.4K
$384.5K – $512.6K
NOI $30,757 @ 7.0% cap · market cap 10.29%
Second Best
Multifamily LT 5
$306.7K
$268.4K – $357.8K
NOI $21,469 @ 7.0% cap · market cap 7.18%
Theoretical Best
Office A
$467.9K
$409.4K – $545.9K
NOI $32,752 @ 7.0% cap · market cap 10.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
531
Businesses Nearby
Explore this area
Business Placement
Demographics for 79835, TX
12,456
Population
4,347
Households
2.9
Avg Household Size
34
Median Age
12%
College-Educated
70%
High-School Grad
8.9 sq mi
ZIP Area
1,400
Density / Sq Mi
$42,955
Median Household Income
$31,965
Median Earnings
$921
Median Rent
$103,200
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property featuring a restaurant, apartments, and warehouse space.
Where is this mixed-use property located?
The property is located at 6928 Third St Canutillo, TX.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Fully equipped restaurant with 2,600 sq ft.; Includes two 1‑bedroom, 1‑bath apartments (1,200 sq ft total).; Features flexible warehouse space (2,600 sq ft).
