717 San Antonio AveEl Paso, TX 79901

  • Office properties
  • 46,080 SF
For Sale
$3,200,000 View listing

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
717 San Antonio Ave, El Paso, Texas

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

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$37,521
$310,160
$989,840
$1,300,000
-
$310,160
$989,840
$1,300,000

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