7320 Alameda Ave El Paso, TX 79915-3602
- Commercial real estate
- 9,898 SF
- 2.56 lot acres
Current Use by Public Records
- Misioneros Bus Line / Travel Agency / Tour Operator
- Central West Auto Sales / Car Dealership
- R&A AUTO LUBE / Vehicle Inspection Center
- Cisco Movers El Paso / Moving Company / Storage Facility
Property Details for 7320 Alameda Ave
- Year built
- 1979
- Lot size
- 2.56 lot acres
- Property size
- 9,898 SF
- Zone code
- C-3
- Property type
- Commercial real estate
- APN
- Y805-999-024B-1885
- APU
- Y805999024B1885
Description
This exceptional investment opportunity presents a fully leased, 15,600-square-foot multi-tenant warehouse complex in El Paso, Texas. Situated on a 2.56-acre lot at 7320 Alameda Ave, 79915, this property comprises two buildings (approximately 10,000 SF and 5,600 SF) with a diverse tenant mix under modified gross leases. Currently boasting 100% occupancy since January 1, 2023, the property generates a current NOI of $153,000, with a pro-forma NOI of $189,000. The asking price is $1,975,000, representing a 7.75% cap rate and a pro-forma cap rate of 9.57%. The property features four dock-high doors, 24-foot ceilings, and ample parking (5.45 spaces per 1,000 sq ft). Built in 1979, the property is zoned C3 CCD, allowing for a variety of uses. The current leases have a remaining term of approximately 1.1 years (expiring December 31, 2025), presenting a value-add opportunity with potential for significant rent increases upon lease renewal. Tenants are credit-rated and have expressed interest in long-term occupancy. The property benefits from its strategic location near major highways and the international airport, serving a population exceeding 985,000. This presents a compelling investment in a growing market with low labor costs and high consumer spending. The property includes perimeter fencing with double entry gates on Alameda Ave and Durrill Rd.
Value Estimations
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $1,074,000
Market price range: $414k - $2.08M -
Alternative Use
- Use
- Estimation
- COMMERCIAL (GENERAL)
- $1,175,000 Current use
- MEDICAL BUILDING
- $1,805,000 Change: +54% Conversion: Easy
- AUTO REPAIR, GARAGE
- $1,330,000 Change: +13% Conversion: Difficult
- RETAIL STORES
- $1,315,000 Change: +12% Conversion: Easy
- RESTAURANT
- $1,220,000 Change: +4% Conversion: Difficult
- OFFICE BUILDING
- $1,050,000 Change: -11% Conversion: Easy
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Location Insight
- Map
- Local Demand
- City
- El Paso
- County
- El Paso
- State
- Texas
- Longitude
- -106.382
- Latitude
- 31.7442
- CBSA code
- 21340
- CBSA name
- EL PASO, TX METROPOLITAN STATISTICAL AREA
