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    Property profile & analytics

    2879 Montana Ave El Paso, TX 79903-2407

    • Drug stores
    • 17,920 SF
    • 0.81 lot acres
    OFF-MARKET
    Value Estimations
    $2,945,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-4534552
    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

    • Walgreens Pharmacy / Pharmacy
    • LibertyX Bitcoin ATM / Atm
    • FedEx OnSite / Postal Service / Courier Service
    • Walgreens / Pharmacy
    • Walgreens Photo / (Bike/Boat/Book/etc) Store

    Property Details for 2879 Montana Ave

    Year built
    1999
    Lot size
    0.81 lot acres
    Property size
    17,920 SF
    Zone code
    SD
    Property type
    Drug stores
    APN
    B202-999-0950-1100
    APU
    B20299909501100

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,385,000
      6.5%
      $3,125,000
      7%
      $2,905,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $2,765,000
      Market price range: $1.02M - $2.77M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,835,000
      Current use
      APARTMENT HOUSE (5+ UNITS)
      $4,015,000
      Change: +119% Conversion: Difficult
      MEDICAL BUILDING
      $2,500,000
      Change: +36% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $2,460,000
      Change: +34% Conversion: Easy
      AUTO REPAIR, GARAGE
      $2,405,000
      Change: +31% Conversion: Difficult
      RESTAURANT
      $2,230,000
      Change: +22% Conversion: Easy
      OFFICE BUILDING
      $1,900,000
      Change: +3% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    El Paso
    County
    El Paso
    State
    Texas
    Longitude
    -106.462
    Latitude
    31.7838
    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
    $73,811
    $540,331
    $2,127,950
    $2,668,281
    -
    $540,331
    $2,127,950
    $2,668,281

    Comparable in this City

    • Value Estimation
      $2,000,000
      12,164 SF

      5305 Montana Ave

      DRUG STORE, PHARMACY • 12,164 SF
      5305 Montana Ave, El Paso, TX 79903-4907
      View Details
    • Value Estimation
      $2,230,000
      13,553 SF

      5401 Montana Ave

      DRUG STORE, PHARMACY • 13,553 SF
      5401 Montana Ave, El Paso, TX 79903-4909
      View Details
    • Value Estimation by Request
      2,283 SF

      506 Raynor St

      RETAIL STORES (PERSONAL SERVICES) • 2,283 SF
      506 Raynor St, El Paso, TX 79903-4119
      View Details
    • Value Estimation by Request
      1,044 SF

      2873 Pershing Dr

      SHOW ROOM, WAREHOUSE • 1,044 SF
      2873 Pershing Dr, El Paso, TX 79903-2423
      View Details
    • Value Estimation
      $1,550,000
      15,140 SF

      2235 Wyoming Ave

      SHOW ROOM, WAREHOUSE • 15,140 SF
      2235 Wyoming Ave, El Paso, TX 79903-3806
      View Details
    • Value Estimation by Request
      3,526 SF

      2300 Wyoming Ave

      SHOW ROOM, WAREHOUSE • 3,526 SF
      2300 Wyoming Ave, El Paso, TX 79903-3809
      View Details

    Similar Nearby for Sale

    • $1,300,000
      0.24 Acres

      El Paso Commercial Opportunity

      Commercial building in vibrant 5 Points district, El Paso.
      3007 Montana Ave, El Paso, TX 79903
      View Details
    • $150,000
      0.08 Acres

      El Paso Commercial Opportunity

      Central El Paso property with flexible use potential and income.
      3606 Hueco Ave, El Paso, TX 79903
      View Details
    • $285,000
      0.15 Acres

      El Paso Retail Opportunity

      Commercial property for sale in El Paso, Texas.
      4834 Montana Ave, El Paso, TX 79903
      View Details
    • $227,950
      0.14 Acres

      El Paso Commercial Space

      Centrally located commercial space ideal for offices, medical, or retail.
      3214 Montana Ave, El Paso, TX 79903
      View Details
    • $1,600,000
      Pending

      El Paso Commercial Opportunity

      Commercial building with frontage to I-10 and E Missouri.
      2131 E Missouri Ave, El Paso, TX 79903
      View Details
    • $350,000
      2,735 SF

      Mixed-Use Property with Drive-Thru

      El Paso investment opportunity: apartments, commercial space, and drive-thru.
      5000 Trowbridge Dr, El Paso, TX 79903
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,400 SF

      El Paso Retail/Office Space

      Retail, medical, and office spaces available in El Paso.
      2900 Pershing Dr, El Paso, TX 79903
      View Details
    • Contact for pricing
      1,100 SF

      Retail Space on Montana Avenue

      Retail space available for lease on Montana Avenue.
      4100 Montana Ave, El Paso, TX 79903
      View Details
    • $795 /Mo
      436 SF

      El Paso Office/Retail Space

      Centrally located, updated office/retail space with high visibility.
      1913 E Yandell Dr, El Paso, TX 79903
      View Details
    • $2,850 /Mo
      5,227 SF

      Remodeled Commercial Space on Montana

      Versatile, remodeled commercial space on Montana Ave, El Paso, TX.
      4506 Montana Ave, El Paso, TX 79903
      View Details
    • $3,000 /Mo
      6,098 SF

      Commercial Retail Property on Montana

      C-4 commercial retail property with loading dock and drive-in door.
      4612 Montana Ave, El Paso, TX 79903
      View Details
    • Contact for pricing
      843 SF

      El Paso Shopping Center Space

      Retail space available in a large El Paso shopping center.
      6101 Gateway Blvd W, El Paso, TX 79903
      View Details
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    2879 Montana Ave
    El Paso, TX 79903-2407
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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
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