12316 Eastlake BlvdEl Paso, TX 79928

Property Details for 12316 Eastlake Blvd

Year built

2024

Lot size

1.14 AC

Property size (Sq ft)

2,080 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

This exceptional investment opportunity presents a brand-new, 15-year absolute NNN ground lease with Valvoline, a credit-rated national tenant with a corporate guarantee. Located on a 1.14-acre lot at 12316 Eastlake Blvd, El Paso, TX 79928, this 2,080 square foot auto shop is situated in a high-growth area with over 33,000 vehicles passing daily. The property boasts 11 parking spaces and benefits from excellent visibility and access on Eastlake Blvd, less than a mile from Interstate 10. The lease commenced October 22, 2024, and expires October 31, 2039, with three, 5-year renewal options and 10% rent increases every five years. The current Net Operating Income (NOI) is $125,000, resulting in a 5.30% cap rate. The property's strategic location is proximate to major retailers, including a newly developed shopping center, a large Amazon fulfillment center, and a proposed medical campus. This presents a strong, stable investment with significant upside potential due to the area's continued growth and the tenant's robust financial standing. The property was built in 2024 and enjoys 100% occupancy. The average household income within a one-mile radius exceeds $109,000. This is a rare opportunity to acquire a high-performing, low-maintenance net lease investment in a thriving Texas market.

Location Insight

City

El Paso

County

El Paso

State

Texas

Latitude

31.6932

Longitude

-106.258

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