7715 Paseo Del NorteEl Paso, TX 79912

Property Details for 7715 Paseo Del Norte

Year built

2024

Lot size

1.55 AC

Property size (Sq ft)

5,850 SF

Property type

Retail properties

Property subtype

Restaurants

Description

This exceptional investment opportunity presents a fully occupied, two-building, 5,850 square foot retail property in El Paso, Texas. Located at 7715 Paseo del Norte, this Class A property boasts four national credit tenants: Starbucks, Dunkin', Supercuts, and TeaN'energy. Each tenant benefits from a drive-thru, maximizing convenience and revenue potential. The property sits on a 1.55-acre lot and features a 100% occupancy rate, generating a strong NOI of $337,664 and a 6.25% cap rate. Built in 2024, the buildings are equipped with transferrable roof warranties. The property benefits from its strategic location within a dense retail node, surrounded by major retailers and employers, including a Walmart Supercenter, Chick-fil-A, Cabela's, TJ Maxx/Homegoods, Becton Dickinson, and Schneider Electric, and near Canutillo High School. The high-traffic area, with over 107,000 vehicles per day on Paseo del Norte and Highway-10, ensures significant visibility and customer access. The property's location within a thriving community with 24,722 households within a 3-mile radius and an average household income of $113,480 provides a strong and stable tenant base. The leases are NNN, minimizing landlord responsibilities, and include a 10% contractual rent growth by year six, ensuring a robust return on investment. This turnkey investment offers a secure and profitable opportunity in a rapidly growing market. The asking price is $5,360,000, representing a price per square foot of $916.24.

Location Insight

City

El Paso

County

El Paso

State

Texas

Latitude

31.885

Longitude

-106.573

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