Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2929 Mcrae Blvd El Paso, TX 79925-4532

    • Medical Office Space
    • 1,566 SF
    • 0.18 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-3804767
    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

    • Saul Martinez: Allstate Insurance / Insurance Agency
    • Allstate Insurance Agency / Insurance Agency
    • Avon Center / Cosmetic Store

    Property Details for 2929 Mcrae Blvd

    Year built
    1958
    Lot size
    0.18 lot acres
    Property size
    1,566 SF
    Zone code
    AO
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    M638-999-0010-9600
    APU
    M63899900109600

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    El Paso
    County
    El Paso
    State
    Texas
    Longitude
    -106.356
    Latitude
    31.7834
    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
    $3,405
    $41,840
    $75,160
    $117,000
    -
    $41,840
    $75,160
    $117,000

    Comparable in this City

    • Value Estimation
      $3,545,000
      31,724 SF

      10151 Montana Ave

      MEDICAL BUILDING • 31,724 SF
      10151 Montana Ave, El Paso, TX 79925-1515
      View Details
    • Value Estimation by Request
      2,392 SF

      8600 Montana Ave

      MEDICAL BUILDING • 2,392 SF
      8600 Montana Ave, El Paso, TX 79925-1214
      View Details
    • Value Estimation
      $870,000
      10,491 SF

      1160 Saddle Bronc Dr

      MEDICAL BUILDING • 10,491 SF
      1160 Saddle Bronc Dr, El Paso, TX 79925-7045
      View Details
    • Value Estimation
      $610,000
      10,609 SF

      6400 Boeing Dr

      MEDICAL BUILDING • 10,609 SF
      6400 Boeing Dr, El Paso, TX 79925-1007
      View Details
    • Value Estimation
      $735,000
      6,235 SF

      6800 Northrop Rd

      MEDICAL BUILDING • 6,235 SF
      6800 Northrop Rd, El Paso, TX 79925-1064
      View Details
    • Value Estimation
      $560,000
      7,081 SF

      1420 Geronimo Dr

      MEDICAL BUILDING • 7,081 SF
      1420 Geronimo Dr, El Paso, TX 79925-1855
      View Details

    Similar Nearby for Sale

    • $1,999,995
      11,536 SF

      El Paso Retail Investment Opportunity

      Versatile retail center on 1.33 acres in El Paso.
      3019 N Yarbrough Dr, El Paso, TX 79925
      View Details
    • Contact for pricing
      7,952 SF

      El Paso Office Space

      Office space available in El Paso, Texas, spanning 1,707 SF.
      7505 Lockheed Dr, El Paso, TX 79925
      View Details
    • Contact for pricing
      5,820 SF

      El Paso Office Space Available

      Office space available for sale in El Paso, Texas.
      9398 Viscount Blvd, El Paso, TX 79925
      View Details
    • Contact for pricing
      52,888 SF

      El Paso Hotel Investment Opportunity

      102-Room Hotel, Fully Renovated, High ROI
      6645 Gateway Blvd, El Paso, TX 79925
      View Details
    • $2,390,000
      0.58 Acres

      El Paso Hotel For Sale

      39-key hotel on corner lot with high visibility.
      5640 E Paisano Dr, El Paso, TX 79925
      View Details
    • Contact for pricing
      23,005 SF

      Land for Lease or Build

      Land ideal for retail or office use in growing area.
      Edgemere Blvd, El Paso, TX 79925
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      46,191 SF

      Gateway West Office Space for Lease

      El Paso, TX Office Suites Available Now
      9515 Gateway Blvd, El Paso, TX 79925
      View Details
    • $24 SF/Yr
      83,000 SF

      El Paso Office Space Available

      Modern Office Suites, El Paso, TX
      7500 Viscount Blvd, El Paso, TX 79925
      View Details
    • $22 SF/Yr
      25,800 SF

      El Paso Medical Office Building

      Prime Medical Space Available in El Paso, TX
      10470 Vista Del Sol Dr, El Paso, TX 79925
      View Details
    • Contact for pricing
      21,777 SF

      El Paso Medical Office Building

      Prime Medical Space Available in El Paso, TX
      10420 Vista Del Sol Dr, El Paso, TX 79925
      View Details
    • $35 SF/Yr
      10,440 SF

      Montana Ave Office Suites

      Modern El Paso office space, 250-4000 sq ft.
      9900 Montana Ave, El Paso, TX 79925
      View Details
    • Contact for pricing
      2,706 SF

      El Paso Office Space For Lease

      Modern Office Space, Multiple Uses Available
      6250 Edgemere Blvd, El Paso, TX 79925
      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.
    2929 Mcrae Blvd
    El Paso, TX 79925-4532
    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.
    Sign Up Successful!
    You now have access to more from Realmo!