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    1001 N Carolina Dr El Paso, TX 79915
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    Property profile & analytics

    1001 N Carolina Dr, El Paso, TX 79915

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    • Strip malls
    • 25,090 SF
    • 2.06 lot acres
    For Lease
    $960,000
    View Listing →
    Retail Space in El Paso For Lease
    $960,000
    7,321 SF

    Retail Space in El Paso

    7,321 square foot retail space available for rent.

    1001 N Carolina Dr, El Paso, TX
    View Listing
    Property ID
    US82-1230362
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $960,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Farmers Insurance - Heriberto Villegas / Insurance Agency
    • Dollar General / Discount Store
    • La Victoria Adult Day Care / Adult Day Care
    • La familia de El Paso / Department Store
    • Western Union / Bank / Credit Union

    Property Details for 1001 N Carolina Dr

    Year built
    1974
    Lot size
    2.06 lot acres
    Zone code
    C1
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    S029-999-0330-5000
    APU
    S02999903305000

    Description

    This exceptional retail opportunity presents itself in the form of the Bel Air Shopping Center, a single-story, 25,025 square foot building located at 1001 N Carolina Dr, El Paso, TX 79915. The property is zoned C-1 and features six suites in total, with one 7,321 square foot space currently available for lease. Situated on North Carolina Drive, the center benefits from high traffic volume due to its proximity to the busy intersection with Yarbrough Drive. This advantageous location is surrounded by well-established residential neighborhoods, ensuring a consistent flow of potential customers. The building's single-story design offers convenient access and ample visibility for businesses. This is an ideal location for retailers seeking a strong presence in a thriving El Paso community. The property's multiple-tenancy structure provides a diverse and vibrant shopping environment. Further details regarding lease terms and available space are readily accessible upon request. This is a rare opportunity to secure a prime retail space in a high-traffic area of El Paso.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $865,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,060,000
      Market price range: $1.06M - $1.94M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $1,365,000
      Current use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    El Paso
    County
    El Paso
    State
    Texas
    Longitude
    -106.348
    Latitude
    31.7399
    CBSA code
    21340
    CBSA name
    EL PASO, TX METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $27,067
    $305,043
    $624,957
    $930,000
    -
    $305,043
    $624,957
    $930,000

    Comparable in this City

    • Value Estimation by Request
      2,448 SF

      7215 Alameda Ave

      SHOPPING CENTER, STRIP CENTER
      7215 Alameda Ave, El Paso, TX 79915-3503
      View Details
    • Value Estimation by Request
      4,055 SF

      7317 Dl Rd

      SHOPPING CENTER, STRIP CENTER
      7317 Dl Rd, El Paso, TX 79915-2502
      View Details
    • Value Estimation
      $1,080,000
      25,770 SF

      7650 Loop Dr

      SHOPPING CENTER, STRIP CENTER
      7650 Loop Dr, El Paso, TX 79915-2905
      View Details
    • Value Estimation
      $730,000
      18,816 SF

      550 Yarbrough Dr

      SHOPPING CENTER, STRIP CENTER
      550 Yarbrough Dr, El Paso, TX 79915-3265
      View Details
    • Value Estimation by Request
      4,674 SF

      7252 Alameda Ave

      SHOPPING CENTER, STRIP CENTER
      7252 Alameda Ave, El Paso, TX 79915-3504
      View Details
    • Value Estimation
      $670,000
      11,200 SF

      850 Carolina Dr

      SHOPPING CENTER, STRIP CENTER
      850 Carolina Dr, El Paso, TX 79915-2774
      View Details

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      Retail/Office Space in Valle Verde

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      7,321 SF

      Retail Space in El Paso

      7,321 square foot retail space available for rent.
      1001 N Carolina Dr, El Paso, TX 79915
      View Details
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      1,200 SF

      Retail Space Available For Rent

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      Retail Space Near Interstate I-10

      Retail space with high visibility near major retailers and I-10.
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      Retail Space on Gateway Boulevard

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      Retail Space on Gateway Blvd

      Retail space available for lease on Gateway Blvd, El Paso.
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      View Details
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    El Paso, TX 79915
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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.

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