For Sale
$699,000

2331 Magoffin AveEl Paso, TX 79901

High-yield investment, diverse income streams.

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional El Paso commercial property, located at 2331 Magoffin Ave, offers a unique blend of income-generating assets. The 9,586 square foot building sits on a single story and is zoned C4, providing significant flexibility for future development or expansion. Currently, the property comprises two thriving retail storefronts: a church (800 sq ft, generating $680 monthly rent) and a jean shop (1,400 sq ft, generating $1,700 monthly rent). Adding to the diverse income stream are three 2-bedroom, 1-bathroom apartments, collectively generating $3,330 in monthly rent. A significant portion of the property consists of a newly updated, vacant 3,340 square foot warehouse/shop space with an office, presenting a prime opportunity for an owner-user or additional rental income. The property boasts convenient access to I-10, Loop 375, and the El Paso/Juarez border, enhancing its appeal and potential for growth. The asking price is $699,000, representing a price per square foot of $72.92. With a potential net operating income of $91,780, this property presents a compelling investment opportunity for both owner-users and investors seeking a diversified portfolio with strong rental income and significant upside potential. The property is offered at 100% ownership.

Highlights

  • 9,586 SF single-story building on a C4-zoned lot in El Paso.
  • Two retail tenants (church & jean shop) generate $2,380 monthly rent.
  • Three 2-bedroom/1-bathroom apartments generate $3,330 monthly rent.
  • 3,340 SF vacant warehouse/shop space with office available.
  • Excellent location with I-10, Loop 375, and border access; Asking price: $699,000 ($72.92/SF); Potential NOI: $91,780.

Property Details for 2331 Magoffin Ave

Property type
Warehouses, Retail properties
Square Feet
9,586 SF
Stories
1

Location Insight

City
El Paso
County
El Paso
State
Texas
Latitude
31.772057730912
Longitude
-106.46168113591
2331 Magoffin Ave, El Paso, Texas

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2331 Magoffin Ave
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