7505 Lockheed DrEl Paso, TX 79925

Property Details for 7505 Lockheed Dr

Year built

1984

Lot size

0.71 AC

Property size (Sq ft)

7,952 SF

Property type

Medical offices

Property subtype

Medical centers

APN

E378-999-0070-5050

APU

E37899900705050

Description

This exceptional investment opportunity presents a 7,952 square foot traditional office building located at 7505 Lockheed Dr, El Paso, TX 79925. The property, built in 1984, sits on a 0.71-acre lot (30,740 sq ft) and boasts a C2 zoning designation, offering versatility for various business uses. Currently, three of the four separately metered units generate rental income. The building features ample parking (36+ spaces) and enjoys high visibility due to its location on Montana Ave, ensuring increased customer traffic. Its strategic location provides easy access to I-10 and US Highway 54 (Patriot Freeway), proximity to Fort Bliss and the El Paso International Airport, contributing to a stable and appreciating property value. The asking price is $799,950, with a price per square foot of $106.89. Owner financing options are available. The property includes a long-term land lease with the El Paso International Airport extending until 2069. This makes it an ideal location for a medical facility, given the ample parking and existing tenants. The property's individual utility metering ensures cost efficiency for both owner and tenants. High potential for growth and rental income expansion exists due to the versatile spaces suitable for various businesses and the high demand for this convenient and strategic location. The APN is E378-999-0070-5050.

• CAP approach

  CAP return

  Valuation

  6%

  $892,971

  6.5%

  $824,281

  7%

  $765,404

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,323,210

  Geo Method

  $1,323,210

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $1,612,850

  Retail / Commercial

  $829,013

  Mixed-Use / Specialty

  $827,596

  Hospitality / Lodging

  $609,183

  Institutional / Educational

  $860,916

  Residential Income

  $1,007,270

  Multifamily

  $1,199,540

  Automotive / Energy

  $737,928

  Parking / Income-Based Land

  $253,130

  Restaurant / Food Service

  $433,722

  Healthcare / Senior Housing

  $847,106

Location Insight

City

El Paso

County

El Paso

State

Texas

Latitude

31.7914

Longitude

-106.388

CBSA code

21340

CBSA name

EL PASO, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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