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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3385 Wedgewood Dr El Paso, TX 79925-2845

    • Individual retail properties
    • 2,460 SF
    • 0.27 lot acres
    OFF-MARKET
    Value Estimations
    $270,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-4845771
    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

    • Sonny's Laundromat / Laundromat

    Property Details for 3385 Wedgewood Dr

    Year built
    1963
    Lot size
    0.27 lot acres
    Property size
    2,460 SF
    Zone code
    C1
    Property type
    Individual retail properties
    APN
    S231-999-0240-7100
    APU
    S23199902407100

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $300,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $239,000
      Market price range: $214k - $382k

    • Alternative Use

      Use
      Estimation
      SERVICE SHOP (TV, RADIO, ELECTRIC, PLUMBING)
      $310,000
      Current use
      AUTO REPAIR, GARAGE
      $330,000
      Change: +7% Conversion: Difficult
      OFFICE BUILDING
      $260,000
      Change: -15% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    El Paso
    County
    El Paso
    State
    Texas
    Longitude
    -106.349
    Latitude
    31.7948
    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
    $5,530
    $41,027
    $148,973
    $190,000
    -
    $41,027
    $148,973
    $190,000

    Comparable in this City

    • Value Estimation
      $325,000
      2,000 SF

      3385 Yarbrough Dr, Unit A

      DRY CLEANER • 2,000 SF
      3385 Yarbrough Dr, El Paso, TX 79925-1721
      View Details
    • Value Estimation
      $295,000
      1,440 SF

      3354 Wedgewood Dr

      DRY CLEANER • 1,440 SF
      3354 Wedgewood Dr, El Paso, TX 79925-2835
      View Details
    • Value Estimation
      $350,000
      4,100 SF

      2107 Wedgewood Dr

      DRY CLEANER • 4,100 SF
      2107 Wedgewood Dr, El Paso, TX 79925-6220
      View Details
    • Value Estimation
      $1,120,000
      8,367 SF

      1212 Hawkins Blvd

      FINANCIAL BUILDING • 8,367 SF
      1212 Hawkins Blvd, El Paso, TX 79925-4942
      View Details
    • Value Estimation
      $705,000
      4,896 SF

      1100 Airway Blvd

      GROCERY, SUPERMARKET • 4,896 SF
      1100 Airway Blvd, El Paso, TX 79925-3619
      View Details
    • Value Estimation
      $530,000
      3,368 SF

      1001 Mcrae Blvd

      GROCERY, SUPERMARKET • 3,368 SF
      1001 Mcrae Blvd, El Paso, TX 79925-7622
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      6,258 SF

      El Paso Retail Land - 6,258 SF

      Prime El Paso retail space, high traffic location.
      8836 Montana Ave, El Paso, TX 79925
      View Details
    • New
      $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
    • New
      $550,000
      Pending

      El Paso Retail Building

      Retail building at Mcrae and Montana in El Paso, TX.
      9710 Montana Ave, El Paso, TX 79925
      View Details
    • $3,077,000
      6,702 SF

      El Paso NNN Auto Shop Investment

      High-yield, 12+ year NNN lease, strong tenant.
      9425 Montana Ave, El Paso, TX 79925
      View Details
    • Contact for pricing

      El Paso Retail Land Opportunity

      Prime I-10 Retail Site in El Paso, TX
      6767 Gateway Blvd, El Paso, TX 79925
      View Details
    • $450,000
      5.00 Acres

      Prime Land in Growing Corridor

      5-acre parcel in El Paso's rapidly developing area.
      PN-49329 Montwood Dr, El Paso, TX 79925
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,440 SF

      Retail Space Available For Lease

      2440 square feet retail space for lease.
      6300 Edgemere Blvd, El Paso, TX 79925
      View Details
    • New
      $19 SF/Yr
      50,530 SF

      Remodeled Retail/Office Space Available

      Centrally located, remodeled retail and office spaces available for lease.
      5640 Montana Ave, El Paso, TX 79925
      View Details
    • Contact for pricing
      1,285 SF

      Retail Space on Yarbrough Drive

      Retail space available for lease on N Yarbrough Dr.
      2200 N Yarbrough Dr, El Paso, TX 79925
      View Details
    • Contact for pricing
      6,258 SF

      Retail Space on Montana Avenue

      6258 SF retail space available for lease.
      8836 Montana Ave, El Paso, TX 79925
      View Details
    • Contact for pricing
      1,000 SF

      Retail Space on Montwood Drive

      Retail space available in high-traffic El Paso location.
      9640 Montwood Dr, El Paso, TX 79925
      View Details
    • Contact for pricing
      1,450 SF

      Retail Space on N Yarbrough

      Retail space available for rent on N Yarbrough Drive.
      1188 N Yarbrough Dr, El Paso, TX 79925
      View Details
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    3385 Wedgewood Dr
    El Paso, TX 79925-2845
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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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