3123 Cypress Ave El Paso, TX 79905-4108

Property Details for 3123 Cypress Ave

Year built

2014

Construction

WOOD

Lot size

0.25 lot acres

Property size

4,199 SF

Zone code

AOC

Property type

Strip malls

Property subtype

Neighborhood centers

APN

M488-999-0030-4600

APU

M48899900304600

Description

This exceptional investment opportunity presents a 4,199 square foot shopping center located at 3123 Cypress Ave, El Paso, TX 79905. The property, built in 2014 and renovated the same year, sits on an 11,090 square foot lot and is zoned C1. The single-story building comprises four units totaling 4,199 square feet, currently vacant, offering significant upside potential. Recent rental history indicates a total monthly rent of $4,600, with a breakdown of $1,000 for one unit and $1,200 for the other three. CAM charges are included in the rent, averaging $300 per month for the $1,200 units and $200 for the $1,000 unit. Lease terms are not specified. The property boasts a six-year-old roof and is in excellent overall condition. Planned improvements include a parking lot resurfacing this year. Annual property taxes are $7,600, and insurance is approximately $5,000 annually. The owner currently covers water (approximately $140 monthly), trash ($81 monthly), and some electricity for signage (approximately $30 monthly), totaling roughly $1700 in monthly expenses. This Net Lease property presents a strong value proposition at an asking price of $799,000 ($190.28/SF). The property's location in El Paso, Texas, offers excellent visibility and access.