Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    216 Overland Ave El Paso, TX 79901-2328

    • Retail space
    • 15,480 SF
    • 0.18 lot acres
    OFF-MARKET
    Value Estimations
    $605,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US83-3366346
    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.

    Current Use by Public Records

    • Bright Insurance of TX / Insurance Agency

    Property Details for 216 Overland Ave

    Year built
    1919
    Lot size
    0.18 lot acres
    Property size
    15,480 SF
    Zone code
    C5
    Property type
    Retail space
    APN
    M473-999-0350-3300
    APU
    M47399903503300

    Description

    The Lenox, a beautifully preserved 1917 building designed by Gustavus Trost, offers exceptional office and retail space in the heart of downtown El Paso, at the corner of Overland and Mesa Avenues. This three-story, 33,792 square foot building boasts a unique central courtyard, ideal for private events or tenant gatherings. Currently, there are multiple spaces available, ranging from a minimum of 2,228 square feet to a maximum contiguous space of 6,140 square feet, with a total of 8,368 square feet currently vacant. The flexible layout allows for various configurations, accommodating both shared and private office spaces on the second and third floors, perfectly suited for executive offices or commercial tenants. Retail opportunities exist on the ground level and in the basement, providing versatile options for businesses seeking high-visibility locations. The building is zoned C-5, offering a wide range of permitted uses. This landmark property presents a rare opportunity to establish a presence in a vibrant and historic El Paso location. The building's architectural significance and central location combine to create a unique and desirable commercial space. Inquire today to explore the possibilities.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $450,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $762,000
      Market price range: $763k - $1.85M

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

    Location Insight

    • Map
    • Local Demand
    City
    El Paso
    County
    El Paso
    State
    Texas
    Longitude
    -106.487
    Latitude
    31.7571
    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
    $11,207
    $236,880
    $151,427
    $388,307
    -
    $236,880
    $151,427
    $388,307

    Comparable in this City

    • Value Estimation by Request
      1,419 SF

      1545 Paisano Dr

      RETAIL STORES (PERSONAL SERVICES) • 1,419 SF
      1545 Paisano Dr, El Paso, TX 79901-3131
      View Details
    • Value Estimation by Request
      4,746 SF

      2011 Magoffin Ave

      RETAIL STORES (PERSONAL SERVICES) • 4,746 SF
      2011 Magoffin Ave, El Paso, TX 79901-1926
      View Details
    • Value Estimation
      $860,000
      7,356 SF

      526 El Paso St

      RETAIL STORES (PERSONAL SERVICES) • 7,356 SF
      526 El Paso St, El Paso, TX 79901-2728
      View Details
    • Value Estimation by Request
      3,402 SF

      709 El Paso St, Unit B

      RETAIL STORES (PERSONAL SERVICES) • 3,402 SF
      709 El Paso St, El Paso, TX 79901-2731
      View Details
    • Value Estimation
      $605,000
      11,520 SF

      308 San Antonio Ave

      RETAIL STORES (PERSONAL SERVICES) • 11,520 SF
      308 San Antonio Ave, El Paso, TX 79901-2334
      View Details
    • Value Estimation by Request
      7,720 SF

      314 San Antonio Ave

      RETAIL STORES (PERSONAL SERVICES) • 7,720 SF
      314 San Antonio Ave, El Paso, TX 79901-2334
      View Details

    Similar Nearby for Sale

    • $1,050,000
      12,418 SF

      El Paso Commercial Opportunity

      Versatile commercial property near Stanton International Bridge in El Paso, TX.
      609 S Stanton St, El Paso, TX 79901
      View Details
    • $252,000
      2,200 SF

      El Paso Retail Investment Opportunity

      Downtown El Paso commercial property for sale near international bridge.
      319 S El Paso St, El Paso, TX 79901
      View Details
    • $450,000
      6,000 SF

      Downtown El Paso Commercial Property

      Income-producing commercial property in the heart of downtown El Paso.
      408 S El Paso St, El Paso, TX 79901
      View Details
    • $250,000
      0.07 Acres

      Downtown El Paso Retail Building

      Retail building with open space and customizable second floor.
      506 S Stanton St, El Paso, TX 79901
      View Details
    • New
      $269,000
      0.14 Acres

      Versatile Commercial Property in El Paso

      Exceptional property near downtown El Paso with trolley tracks.
      605 S Kansas St, El Paso, TX 79901
      View Details
    • $4,900,000

      El Paso Retail/Office Opportunity

      Well-maintained property suitable for retail or office use.
      119 N Stanton St, El Paso, TX 79901
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,959 SF

      Retail Space Available For Lease

      1959 SF retail space available for lease.
      212 E Mills Ave, El Paso, TX 79901
      View Details
    • $1,400 /Mo
      10,890 SF

      Downtown El Paso Commercial Space

      Versatile commercial space in downtown El Paso near transit.
      600 S Santa Fe St, El Paso, TX 79901
      View Details
    • Contact for pricing
      2,160 SF

      Retail Space in El Paso

      Retail space available for lease in El Paso, Texas.
      409 S Kansas St, El Paso, TX 79901
      View Details
    • $3,750 /Mo
      3,049 SF

      Renovated Office/Retail Warehouse in El Paso

      Versatile renovated office/retail warehouse in a prime downtown location.
      2414 Texas Ave, El Paso, TX 79901
      View Details
    • $4,000,000
      11,761 SF

      Prime Retail Space Available

      Retail space for rent in a high-traffic downtown location.
      201 N Mesa St, El Paso, TX 79901
      View Details
    • $800 /Mo
      4,356 SF

      Downtown El Paso Retail Space

      Retail space in downtown El Paso with high traffic exposure.
      702 S Santa Fe St, El Paso, TX 79901
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    216 Overland Ave
    El Paso, TX 79901-2328
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.