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    300-310 Mesa St El Paso, TX 79901

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    For Lease
    $20 SF/Yr

    Historic Downtown El Paso Office Space. Prestigious, Modern Amenities.

    Lot size:
    156,684 SF

    Property Features for 300-310 Mesa St

    General Information

    Property type
    Office Properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    156,684 SF
    Class
    A
    Total Rate
    261140

    Building Details

    Year Built/Renovated
    1928/2015
    Buildings
    2
    Stories
    11

    Spaces For Lease

    at 300-310 Mesa St, El Paso, TX 79901 Contact us
    Unit 10th Floor- Suite

    $22 /Mo

    Size
    12,001 SF
    Contact us
    Unit 4th Floor - Suite 411

    $20 /Mo

    Size
    1,320 SF
    Contact us
    Unit 5th Floor - Suite 519

    $20 /Mo

    Size
    1,080 SF
    Contact us
    Unit 6th floor- Suite 614

    $20 /Mo

    Size
    1,515 SF
    Contact us
    Unit 4th Floor - Suite 424

    $20 /Mo

    Size
    1,012 SF
    Contact us
    Unit Floor 1- Suite 102

    $20 /Mo

    Size
    3,200 SF
    Contact us
    Unit 5th Floor - Suite 515

    $20 /Mo

    Size
    876 SF
    Contact us
    Show more

    We can help!

    Listing Contact
    George Dipp
    George Dipp

    Listing Agency: Wolf Investment Trust LLC Listing Agent: George Dipp

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

    Learn more

    Overview

    The Cortez on the Plaza, located at 300-310 North Mesa St, El Paso, TX 79901, is a Class A, multi-tenant office building offering 156,684 square feet of space in two eleven-story buildings. Built in 1928 and renovated in 2015, this property boasts a blend of historic charm and modern functionality. Units range from a minimum of 500 square feet to a maximum contiguous space of 12,000 square feet, with an 8-foot ceiling height. The building features five elevators and 235 parking spaces in an attached garage. Its prime downtown location offers stunning views of San Jacinto Plaza and the surrounding cityscape. The Cortez on the Plaza is zoned C5H in El Paso County and benefits from its proximity to numerous financial institutions and restaurants located on the ground floor. This exceptional property provides a unique opportunity for businesses seeking a prestigious address in a vibrant urban setting. The 0.42-acre site offers a convenient and accessible location for employees and clients alike. The building's historical character, combined with its modern amenities, creates a desirable work environment. This multi-story office building is ideal for businesses of all sizes, offering flexibility and prestige in the heart of El Paso.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Real Estate Agency Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Law Firm Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    El Paso
    County
    El Paso
    State
    Texas
    Longitude
    -106.4877983
    Latitude
    31.7597763

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    FAQs

    What type of property is this?
    Office Property / Space - Historic Downtown El Paso Office Space. Prestigious, Modern Amenities.
    Where is this office property / space located?
    The property is located at 300-310 Mesa St El Paso, TX.
    What is the lease rate?
    The lease rate is $20-$22 SF/Yr.
    What are key features of this property?
    This property features: Class A Office Building with Attached Indoor Parking.; On-site Security and Full-Time Maintenance Staff.; Completely Remodeled in 2012 with New HVAC Systems.
    (915) 858-3100
    Request Owner's contact information
    300-310 Mesa St El Paso, TX 79901
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    El Paso, TX 79901
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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
    300-310 Mesa St El Paso, TX 79901
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    We can help!
    Listing Contact
    George Dipp
    George Dipp
    (915) 858-3100
    Learn more
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