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

    6985 Market Ave El Paso, TX 79915-1111

    • Medical offices
    • 1,974 SF
    • 0.42 lot acres
    OFF-MARKET
    Value Estimations
    $305,000
    Show details
    Cap Rate Potential
    8.1%
    Medical offices
    Location Intelligence
    Property ID
    US82-3073381
    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

    • Medical offices

    Property Details for 6985 Market Ave

    Year built
    1962
    Lot size
    0.42 lot acres
    Property size
    1,974 SF
    Zone code
    M1
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    E131-999-0080-4900
    APU
    E13199900804900

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $315,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $425,000
      6.5%
      $395,000
      7%
      $365,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $203,000
      Market price range: $175k - $517k

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

    Location Insight

    • Map
    • Local Demand
    City
    El Paso
    County
    El Paso
    State
    Texas
    Longitude
    -106.382
    Latitude
    31.7685
    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
    $4,400
    $45,415
    $105,755
    $151,170
    -
    $45,415
    $105,755
    $151,170

    Comparable in this City

    • Value Estimation
      $560,000
      9,420 SF

      7200 Gtwy Blvd Ea

      MEDICAL BUILDING • 9,420 SF
      7200 Gtwy Blvd Ea, El Paso, TX 79915-1301
      View Details
    • Value Estimation
      $405,000
      885 SF

      7793 Alameda Ave

      MEDICAL BUILDING • 885 SF
      7793 Alameda Ave, El Paso, TX 79915-3920
      View Details
    • Value Estimation
      $295,000
      1,160 SF

      7267 Alameda Ave

      MEDICAL BUILDING • 1,160 SF
      7267 Alameda Ave, El Paso, TX 79915-3503
      View Details
    • Value Estimation
      $320,000
      528 SF

      7591 Alameda Ave

      MEDICAL BUILDING • 528 SF
      7591 Alameda Ave, El Paso, TX 79915-3732
      View Details
    • Value Estimation
      $435,000
      4,881 SF

      6834 Commerce Ave

      MEDICAL BUILDING • 4,881 SF
      6834 Commerce Ave, El Paso, TX 79915-1023
      View Details
    • Value Estimation
      $305,000
      1,694 SF

      7549 Alameda Ave

      MEDICAL BUILDING • 1,694 SF
      7549 Alameda Ave, El Paso, TX 79915-3713
      View Details

    Similar Nearby for Sale

    • $400,000
      0.48 Acres

      El Paso Commercial Property

      Two structures plus containers for sale in El Paso.
      7456 Alameda Ave, El Paso, TX 79915
      View Details
    • $400,000
      4,200 SF

      Medical Clinic with Additional Structures

      Property with medical clinic, mobile home, containers, and parking agreement.
      7457 Alameda Ave, El Paso, TX 79915
      View Details
    • Contact for pricing
      34,521 SF

      Medical Office Building Investment Opportunity

      Multi-tenant medical office building with high visibility and modern amenities.
      7812 E Gateway Blvd, El Paso, TX 79915
      View Details
    • $2,600,000
      4.00 Acres

      El Paso Commercial Property For Sale

      Multi-building commercial property with diverse potential in El Paso, Texas.
      7722 N Loop Dr, El Paso, TX 79915
      View Details
    • New
      $175,000
      0.12 Acres

      Versatile Commercial Property in El Paso

      Adaptable commercial space ideal for small business or professional services.
      7907 Alameda Ave, El Paso, TX 79915
      View Details
    • $695,000
      0.93 Acres

      El Paso Commercial Investment Property

      Versatile commercial property with multiple income streams in El Paso.
      7272 Alameda Ave, El Paso, TX 79915
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      12,000 SF

      Valle Verde Plaza: El Paso Office Space

      Prime East El Paso Office Suites Available
      7206 Loop Dr, El Paso, TX 79915
      View Details
    • Contact for pricing
      3,693 SF

      Alameda Ave Retail/Office Space

      Prime El Paso retail & office space available.
      7100 Alameda Ave, El Paso, TX 79915
      View Details
    • $4 SF/Yr
      51,900 SF

      Historic El Paso School Building

      Unique 51,900 SF building on 7.11 acres for lease.
      7090 Alameda Ave, El Paso, TX 79915
      View Details
    • Contact for pricing
      20,145 SF

      Ranchland Plaza Retail Center

      El Paso Retail Space - High Visibility
      7230 Gateway Blvd, El Paso, TX 79915
      View Details
    • $12 SF/Yr
      10,275 SF

      Ranchland Village Retail Center

      El Paso Retail Space - 10,275 SF Available
      7400 Gateway Blvd, El Paso, TX 79915
      View Details
    • Contact for pricing
      18,000 SF

      Retail Space Available For Lease

      18,000 square feet of retail space for lease.
      7100 Gateway Blvd East, El Paso, TX 79915
      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.
    6985 Market Ave
    El Paso, TX 79915-1111
    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.