For Sale
$3,200,000

717 San Antonio AveEl Paso, TX 79901

Downtown El Paso Office Building, High ROI

Overview

Added:
Dec 11, 2024
Days on market:
116
This historic six-story, 46,080 square foot office building, located at 717 E San Antonio Ave, El Paso, TX 79901, presents a unique investment opportunity. Built in 1910 and extensively renovated in 2022, the property boasts a blend of Beaux-Arts, Renaissance, and Sullivanesque architectural styles, featuring arched windows, geometric terra cotta, and charming balconies. Currently housing 10 tenants across 48 units, the building offers 30,486 net rentable square feet with a 60.63% occupancy rate. The asking price is $3,200,000, translating to $69.44 per square foot, significantly below replacement cost. The property benefits from a strong pro-forma NOI of $369,840 and a pro-forma cap rate of 11.56%. Situated in a prime downtown location between the IRS building and the Federal Courthouse, this Class C building is zoned C-4H and offers potential for restoration tax incentives. The 7,754 square foot lot has no air rights. The gross lease structure and multi-tenant occupancy provide a stable income stream. This is a rare chance to acquire a landmark property with significant upside potential in a thriving urban core. The building's rich history and architectural significance, combined with its strong financial performance and prime location, make it an exceptional investment opportunity.

Highlights

  • Eligible for restoration tax incentives.
  • Downtown El Paso location.
  • Situated between the IRS building and Federal Courthouse.
  • Priced at $71.61 per square foot, significantly below replacement cost.
  • Contact 915-352-3101 for details.

Property Details for 717 San Antonio Ave

Property type
Office properties
Square Feet
46,080 SF
Class
C
Year Built/Renovated
1910/2022
Buildings
1
Stories
6
Units
48

Location Insight

City
El Paso
County
El Paso
State
Texas
Latitude
31.759306973219
Longitude
-106.48243859243
717 San Antonio Ave, El Paso, Texas

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717 San Antonio Ave
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