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

    406 Chelsea St El Paso, TX 79905-1708

    • Medical offices
    • 6,000 SF
    • 0.37 lot acres
    OFF-MARKET
    Value Estimations
    $550,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-2828227
    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

    • Julio Martinez / Occupational Therapist
    • Roseanne Alvillar / Speech Pathologist
    • Juan Mendoza / Speech Pathologist
    • Enrique Luna / Speech Pathologist
    • Georgina Cervantes, OTR / Occupational Therapist / Professional Services

    Property Details for 406 Chelsea St

    Year built
    1972
    Construction
    CONCRETE BLOCKS
    Lot size
    0.37 lot acres
    Property size
    6,000 SF
    Zone code
    SCZ
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    B724-999-0180-3600
    APU
    B72499901803600

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $420,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $679,000
      Market price range: $308k - $1.12M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $640,000
      Current use
      OFFICE BUILDING
      $650,000
      Change: +1% 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
    -106.425
    Latitude
    31.7764
    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
    $18,229
    $139,054
    $519,946
    $659,000
    -
    $139,054
    $519,946
    $659,000

    Comparable in this City

    • Value Estimation
      $875,000
      21,214 SF

      5340 El Paso Dr

      MEDICAL BUILDING • 21,214 SF
      5340 El Paso Dr, El Paso, TX 79905-2837
      View Details
    • Value Estimation
      $380,000
      7,491 SF

      200 Rick Francis St

      MEDICAL BUILDING • 7,491 SF
      200 Rick Francis St, El Paso, TX 79905-2817
      View Details
    • Value Estimation
      $645,000
      13,418 SF

      3523 Alameda Ave

      MEDICAL CLINIC • 13,418 SF
      3523 Alameda Ave, El Paso, TX 79905-2401
      View Details
    • Value Estimation
      $400,000
      7,539 SF

      5304 El Paso Dr

      MEDICAL BUILDING • 7,539 SF
      5304 El Paso Dr, El Paso, TX 79905-2823
      View Details
    • Value Estimation
      $370,000
      6,585 SF

      212 Lisbon St

      MEDICAL BUILDING • 6,585 SF
      212 Lisbon St, El Paso, TX 79905-4627
      View Details
    • Value Estimation
      $530,000
      10,044 SF

      130 Val Verde St

      MEDICAL BUILDING • 10,044 SF
      130 Val Verde St, El Paso, TX 79905-3915
      View Details

    Similar Nearby for Sale

    • New
      $375,000
      0.14 Acres

      El Paso Commercial Property For Sale

      Commercial property near hospital and medical college with high visibility.
      341 Chelsea St, El Paso, TX 79905
      View Details
    • Contact for pricing
      6,000 SF

      El Paso Office Space

      6,000 SF office space available in El Paso, TX.
      200 Copia St, El Paso, TX 79905
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    • $650,000
      0.34 Acres

      El Paso Commercial Office Building

      Two-building commercial property with flexible office spaces in El Paso.
      3905-3909 Durazno Ave, El Paso, TX 79905
      View Details
    • $289,900
      0.07 Acres

      El Paso Commercial Corner Building

      Centrally located commercial building with high visibility and traffic.
      3107 E Paisano Dr, El Paso, TX 79905
      View Details
    • New
      $165,000
      0.14 Acres

      El Paso Commercial Home/Office

      Centrally located commercial property suitable for office or small business.
      5612 Dailey Ave, El Paso, TX 79905
      View Details
    • Contact for pricing
      21,500 SF

      El Paso Industrial Warehouse Duo

      Central location, high-demand warehouse space.
      2933 Rosa Ave, El Paso, TX 79905
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      4,722 SF

      El Paso Office Space Available

      Office space with high visibility near medical and business centers.
      5301 Alameda Ave, El Paso, TX 79905
      View Details
    • $180 SF/Yr
      58,000 SF

      El Paso Office Building - 60 Suites

      Modern El Paso Office Space, 58,000 sq ft
      6090 Surety Dr, El Paso, TX 79905
      View Details
    • $950 /Mo
      6,098 SF

      El Paso Commercial Home/Office

      Centrally located commercial space suitable for office or small business.
      5612 Dailey Ave, El Paso, TX 79905
      View Details
    • $2,000 /Mo
      6,098 SF

      El Paso Commercial Office Space

      1,652 SF office space for rent in El Paso.
      3905 Durazno Ave, El Paso, TX 79905
      View Details
    • $5 SF/Yr
      4,552 SF

      El Paso Office Space: Two Buildings Available

      Flexible Office Suites, Ideal Location
      3905 Durazno Ave, El Paso, TX 79905
      View Details
    • Contact for pricing
      2,992 SF

      El Paso Office Suites for Lease

      Executive & Creative Office Space Available Now
      6060 Surety Dr, El Paso, TX 79905
      View Details
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    406 Chelsea St
    El Paso, TX 79905-1708
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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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