7451 Paseo Del NorteEl Paso, TX 79911

This exceptional 38,800 square foot Class A mixed-use center in El Paso, Texas, presents a compelling investment opportunity. Located at 7451 Paseo del Norte, within the thriving Cimarron development, this property boasts a strong tenant mix including medical, retail, and restaurant spaces. The five single-story buildings feature 15 units with a 92% occupancy rate, and a weighted average lease term (WALT) of 112 months. Leases include annual increases and personal guarantees, providing strong financial stability. Three national franchise tenants—BUNDA, Basecamp Fitness, and Gyu-Kaku—anchor the center, alongside local businesses such as a dentist, medspa, and veterinary clinic. Significant tenant improvements enhance the property's value. The 3.64-acre lot offers a 14-foot ceiling height and ample patio space. The property is zoned commercial, with a fee simple ownership and an absolute NNN lease type. The current cap rate is 6.00%, with a pro-forma cap rate of 7.00%. The property's prime location, near major retailers like Walmart and Cabelas, and within a half-mile of the freeway, ensures high visibility and accessibility. The surrounding Cimarron community offers a high quality of life, with extensive amenities including parks, trails, and new schools. The property's Spanish Revival architecture and meticulous landscaping create a visually appealing and inviting atmosphere. Occupancy date is October 1, 2024. This is a stabilized investment with a remaining lease term of 10 years. The land value is $20 per square foot. The property is for sale by owner.