7715 Paseo Del Norte El Paso, TX 79912
- Retail properties
- 5,850 SF
- 1.55 lot acres
Current Use by Public Records
- Retail properties
Property Details for 7715 Paseo Del Norte
- Year built
- 2024
- Lot size
- 1.55 lot acres
- Property size
- 5,850 SF
- Property type
- Retail properties
- 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.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- El Paso
- County
- El Paso
- State
- Texas
- Longitude
- -106.573
- Latitude
- 31.885
