Flex Space with Office and
For Sale
$1,795,000
1009 E Interstate 2, Pharr, TX 78577
Commercial Sale, Pharr, TX
Property Size6,241 SF
Lot Size0.76 Acres
Price / SF$287.61
Days on Market284
Property Features for 1009 E Interstate 2
General Information
Property type
Commercial Sale
Property subtype
Other
Parking
25
Parking features
Special Needs, Garage
Security features
Security System
Appliances
Electric Water Heater
Subdivision
Bentsen Commerce
Directions
From McAllen to destination: Continue straight to stay on E Expressway 83/E Frontage Rd N/U.S. 83 Frontage Rd S Turn left onto N I Rd/N Veterans Blvd Turn left at the 1st cross street onto E Expressway 83/W Frontage Rd N/US-83 Frontage Rd. Building on your right on the expressway service road.
Standard status
Active
APN
B254500000000600
Size
6,241 SF
Lot size
0.76 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
17836
Utilities
Heating system
Central
Cooling system
Central Air
Amenities
digital billboard
Building Details
Year built
2005
Floors in Building
2
Building materials
Aluminum Siding, Brick, Stucco
Roof type
Metal, Shingle
Listing Agency:
Encore Fine Properties
(956) 821-6170
Listed By:
Arik Bachsian
(956) 360-2864
Added: Dec 18, 2025
Changed: Sep 14
Last Checked: Sep 28 at 5:06PM
MLS# 488874
Copyright © 2026 Greater McAllen Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 6,241-square-foot flex property in Pharr was built in 2005 and includes multiple office areas along with warehouse and storage space. The building has central heating and central air, with aluminum siding, brick, and stucco construction. Roofing includes metal and shingle materials, and an electric water heater serves the property.
Located at 1009 E Interstate 2, the property includes parking features for special-needs access and garage parking. A digital billboard is also part of the improvements. The 0.759-acre site provides a combination of office, storage, and commercial building components suited to a range of business operations.
Located at 1009 E Interstate 2, the property includes parking features for special-needs access and garage parking. A digital billboard is also part of the improvements. The 0.759-acre site provides a combination of office, storage, and commercial building components suited to a range of business operations.
Key Highlights
- 6,241‑square‑foot flex property on a 0.759‑acre site
- Multiple office spaces with warehouse and storage areas
- Digital billboard included with the property
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$104,393
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.82%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,087,860
$2.1M
Cap Rate 7%
$1,491,329
$1.5M
Cap Rate 9%
$1,159,922
$1.2M
Market Conditions
NOI Build-Up for 6,241 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$191.7K $30.72/SF
− Vacancy
−$52.5K −$8.42/SF
EGI
$139.2K $22.30/SF
− OpEx
−$34.8K −$5.58/SF
NOI
$104.4K $16.73/SF
Area
Hidalgo County, TX
Vacancy
27.40%
Lease Rate
$30.72 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,087,860
Cap Rate 7%
$1,491,329
Cap Rate 9%
$1,159,922
Alternative Uses
Best Use
Office B
$1.49M
$1.30M – $1.74M
NOI $104,393 @ 7.0% cap · market cap 5.82%
Second Best
Healthcare Medical
$1.32M
$1.15M – $1.54M
NOI $92,344 @ 7.0% cap · market cap 5.14%
Theoretical Best
Hotel Hospitality
$4.70M
$4.11M – $5.48M
NOI $329,057 @ 7.0% cap · market cap 18.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
714
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 78577, TX
79,937
Population
26,568
Households
3
Avg Household Size
30
Median Age
18%
College-Educated
70%
High-School Grad
26.0 sq mi
ZIP Area
3,075
Density / Sq Mi
$49,768
Median Household Income
$28,186
Median Earnings
$988
Median Rent
$111,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Similar Off Market Nearby
- Sispresso — 107 E Ferguson Ave Suite B, Pharr, TX 78577
Frequently Asked Questions
What type of property is this?
Flex space - Building combines office areas with warehouse and storage space, central HVAC, and on-site parking.
Where is this flex space located?
The property is located at 1009 E Interstate 2 Pharr, TX.
What is the asking price?
The asking price for this property is $1,795,000.
What are key features of this property?
This property features: 6,241‑square‑foot flex property on a 0.759‑acre site; Multiple office spaces with warehouse and storage areas; Digital billboard included with the property
