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

    304 Texas Ave El Paso, TX 79901

    • Office buildings
    • 68,680 SF
    • 0.32 lot acres
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US83-4198381
    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

    • ASHA MARY KURIAN / Internist
    • ANGELA S JONES-ALLEN / Family Practice Physician
    • Blue Flame Building / Conference Center
    • Workforce Solutions Borderplex - Administrative Offices / Employment Agency
    • Omar Porta Potty Rental El Paso / Portable Toilet Supplier

    Property Details for 304 Texas Ave

    Year built
    1954
    Lot size
    0.32 lot acres
    Property size
    68,680 SF
    Zone code
    C5
    Property type
    Office buildings
    APN
    M473-999-0390-0100
    APU
    M47399903900100

    Description

    This exceptional 4,447-square-foot office suite, located within the Blue Flame Building at 304 Texas Ave, El Paso, TX 79901, presents a unique opportunity. Situated in the heart of downtown El Paso, this single-tenant space is part of a 17-story building totaling 201,960 square feet, constructed in 1954 and extensively renovated in 2022. The building features elevators and is zoned C5. The suite offers immediate access to major freeways and convenient nearby parking, ensuring effortless commutes for employees and clients. The vibrant downtown location provides easy access to a diverse range of restaurants and entertainment options. This traditional office space is ideal for businesses seeking a prestigious address in a thriving urban environment. El Paso County provides a strong business climate, and this property benefits from its central location within the city. The building's recent renovation ensures modern amenities and functionality. This is a rare opportunity to secure a well-located, spacious, and updated office suite in the dynamic heart of El Paso.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $7,892,000
      Market price range: $1.63M - $7.89M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $6,115,000
      Current use
      RESTAURANT
      $9,985,000
      Change: +63% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $9,215,000
      Change: +51% Conversion: Difficult
      RETAIL STORES
      $5,855,000
      Change: -4% Conversion: Moderate
      MEDICAL BUILDING
      $5,505,000
      Change: -10% Conversion: Easy
      COMMERCIAL (GENERAL)
      $5,455,000
      Change: -11% 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
    -106.486
    Latitude
    31.7594
    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
    2022
    $0.00
    $694,750
    $8,042,140
    $8,736,890
    -
    $694,750
    $8,042,140
    $8,736,890

    Comparable in this City

    • Value Estimation by Request
      2,613 SF

      1316 3rd Ave

      OFFICE BUILDING • 2,613 SF
      1316 3rd Ave, El Paso, TX 79901-3102
      View Details
    • Value Estimation by Request
      3,148 SF

      2402 Bassett Ave

      OFFICE BUILDING • 3,148 SF
      2402 Bassett Ave, El Paso, TX 79901-2129
      View Details
    • Value Estimation by Request
      491 SF

      1023 Myrtle Ave

      OFFICE BUILDING • 491 SF
      1023 Myrtle Ave, El Paso, TX 79901-1515
      View Details
    • Value Estimation by Request
      2,755 SF

      316 Nino Aguilera St

      OFFICE BUILDING • 2,755 SF
      316 Nino Aguilera St, El Paso, TX 79901-3160
      View Details
    • Value Estimation by Request
      3,000 SF

      1922 Olive Ave

      OFFICE BUILDING • 3,000 SF
      1922 Olive Ave, El Paso, TX 79901-1983
      View Details
    • Value Estimation by Request
      3,240 SF

      2229 Bassett Ave

      OFFICE BUILDING • 3,240 SF
      2229 Bassett Ave, El Paso, TX 79901-2037
      View Details

    Similar Nearby for Sale

    • $3,506,560
      34,357 SF

      El Paso Medical Office Building

      Net-leased KEDPLASMA; 7.5% Cap Rate
      313 Stanton St, El Paso, TX 79901
      View Details
    • $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
    • Contact for pricing
      0.66 Acres

      El Paso Flex Warehouse

      Flex warehouse with office space and high ceilings in El Paso.
      2401 Alameda Ave, El Paso, TX 79901
      View Details
    • New
      $890,000
      3,000 SF

      El Paso Showroom/Warehouse For Sale

      Showroom/warehouse near downtown and international bridges, ideal for various businesses.
      210 Poplar St, El Paso, TX 79901
      View Details
    • $3,100,000
      22,200 SF

      Downtown El Paso Commercial Building

      Three-story commercial building in the heart of Downtown El Paso.
      402 S El Paso St, El Paso, TX 79901
      View Details
    • Contact for pricing
      35,091 SF

      Downtown El Paso Mixed-Use Gem

      Historic building, prime location, high potential.
      201 Mesa St, El Paso, TX 79901
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      10,188 SF

      Downtown El Paso Office Space

      Office space with conversion potential near downtown and I-10.
      215 N Stanton St, El Paso, TX 79901
      View Details
    • $22 SF/Yr
      11,770 SF

      El Paso Executive Office Suites

      Prestigious El Paso Office Space, Flexible Terms
      221 Kansas St, El Paso, TX 79901
      View Details
    • $13 SF/Yr
      1,760 SF

      Downtown El Paso Office Space

      Turnkey Office, 1760 sq ft, Ready to Occupy
      610 Mesa St, El Paso, TX 79901
      View Details
    • $850 /Mo
      11,761 SF

      Modern Office in Downtown El Paso

      Modern office space in a vibrant co-working environment.
      522 W San Francisco Ave, El Paso, TX 79901
      View Details
    • $16 SF/Yr
      1,174 SF

      Downtown El Paso Office Space

      Corner office space with downtown views, convenient access to I-10.
      320 Texas Ave, El Paso, TX 79901
      View Details
    • $900 /Mo
      21,780 SF

      Remodeled Office Space Near Downtown

      Remodeled storefront office space suitable for various businesses, near downtown.
      1413 E Paisano Dr, 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.
    304 Texas Ave
    El Paso, TX 79901
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.