7715 Paseo Del Norte, El Paso, TX 79912

Property Details for 7715 Paseo Del Norte

Year built

2024

Lot size

1.55 lot acres

Property type

Retail properties & Spaces

Property subtype

Restaurants

Description

This exceptional investment opportunity presents a fully occupied, two-building, 5,850 square foot retail property in El Paso, Texas. Located at 7715 Paseo del Norte, this Class A property boasts four national credit tenants: Starbucks, Dunkin', Supercuts, and TeaN'energy. Each tenant benefits from a drive-thru, maximizing convenience and revenue potential. The property sits on a 1.55-acre lot and features a 100% occupancy rate, generating a strong NOI of $337,664 and a 6.25% cap rate. Built in 2024, the buildings are equipped with transferrable roof warranties. The property benefits from its strategic location within a dense retail node, surrounded by major retailers and employers, including a Walmart Supercenter, Chick-fil-A, Cabela's, TJ Maxx/Homegoods, Becton Dickinson, and Schneider Electric, and near Canutillo High School. The high-traffic area, with over 107,000 vehicles per day on Paseo del Norte and Highway-10, ensures significant visibility and customer access. The property's location within a thriving community with 24,722 households within a 3-mile radius and an average household income of $113,480 provides a strong and stable tenant base. The leases are NNN, minimizing landlord responsibilities, and include a 10% contractual rent growth by year six, ensuring a robust return on investment. This turnkey investment offers a secure and profitable opportunity in a rapidly growing market. The asking price is $5,360,000, representing a price per square foot of $916.24.

Location Insight

City

El Paso

County

El Paso

State

Texas

Longitude

-106.573

Latitude

31.885