717 San Antonio AveEl Paso, TX 79901
- Office properties
- 46,080 SF
Property Details for 717 San Antonio Ave
- Year built
- 1910
- Lot size
- 0.18 AC
- Property size (Sq ft)
- 46,080 SF
- Zone code
- C4H
- Property type
- Office properties
- Property subtype
- Office buildings
- APN
- C050-999-2100-0100
- APU
- C05099921000100
Description
This historic six-story, 46,080 square foot office building, located at 717 E San Antonio Ave, El Paso, TX 79901, presents a unique investment opportunity. Built in 1910 and extensively renovated in 2022, the property boasts a blend of Beaux-Arts, Renaissance, and Sullivanesque architectural styles, featuring arched windows, geometric terra cotta, and charming balconies. Currently housing 10 tenants across 48 units, the building offers 30,486 net rentable square feet with a 60.63% occupancy rate. The asking price is $3,200,000, translating to $69.44 per square foot, significantly below replacement cost. The property benefits from a strong pro-forma NOI of $369,840 and a pro-forma cap rate of 11.56%. Situated in a prime downtown location between the IRS building and the Federal Courthouse, this Class C building is zoned C-4H and offers potential for restoration tax incentives. The 7,754 square foot lot has no air rights. The gross lease structure and multi-tenant occupancy provide a stable income stream. This is a rare chance to acquire a landmark property with significant upside potential in a thriving urban core. The building's rich history and architectural significance, combined with its strong financial performance and prime location, make it an exceptional investment opportunity.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $4,565,790
- 6.5%
- $4,214,576
- 7%
- $3,913,535
-
Comparable approach
- Method
- Valuation
- Relative Method
- $7,667,712
- Geo Method
- $7,667,712
-
Alternative Use
- Use
- Valuation
- Residential
- $5,226,074
- Hospitality
- $4,787,056
- Educational
- $3,982,774
- Medical
- $4,119,748
- Retail
- $6,195,427
Location Insight
- City
- El Paso
- County
- El Paso
- State
- Texas
- Latitude
- 31.7596
- Longitude
- -106.482
- CBSA code
- 21340
- CBSA name
- EL PASO, TX METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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