717 San Antonio AveEl Paso, TX 79901

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 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.

• CAP approach

  CAP return

  Valuation

  6%

  $5,174,560

  6.5%

  $4,776,520

  7%

  $4,435,340

• Comparable approach

  Method

  Valuation

  Relative Method

  $7,667,710

  Geo Method

  $7,667,710

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $9,346,090

  Retail / Commercial

  $4,803,940

  Mixed-Use / Specialty

  $4,795,730

  Hospitality / Lodging

  $3,530,080

  Institutional / Educational

  $4,988,810

  Residential Income

  $5,836,900

  Multifamily

  $6,951,050

  Automotive / Energy

  $4,276,120

  Parking / Income-Based Land

  $1,466,830

  Restaurant / Food Service

  $2,513,320

  Healthcare / Senior Housing

  $4,908,790

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

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