For Sale
$1,975,000

7320 Alameda AveEl Paso, TX 79915

15,600 SF, 7.75% Cap Rate, Value-Add

Overview

Added:
Dec 11, 2024
Days on market:
116
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.

Highlights

  • $1,975,000 asking price for a value-add opportunity.
  • Fully leased, 15,600 square foot industrial property.
  • Diverse tenant mix with four tenants under modified gross leases.
  • Short-term leases averaging 1.1 years remaining.
  • Two buildings totaling 15,600 square feet on a 2.56-acre lot.
  • $153,000 current NOI, with a pro-forma NOI of $189,000.

Property Details for 7320 Alameda Ave

Property type
Warehouses, Retail properties
Square Feet
15,600 SF
Class
B
Year Built
1979
Buildings
2
Stories
1
Lot Size (sq. ft)
111,514 SF
Units
5

Location Insight

City
El Paso
County
El Paso
State
Texas
Latitude
31.74386163818
Longitude
-106.38140950879
7320 Alameda Ave, El Paso, Texas

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7320 Alameda Ave
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