Drive-Through Self-Service Car
For Sale
$390,000
Pending
407 N Veterans Boulevard, Pharr, TX 78577
Commercial Sale, Pharr, TX
Property Size2,304 SF
Lot Size0.58 Acres
Days on Market931
Property Features for 407 N Veterans Boulevard
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
CO
Parking
20
Appliances
Water Heater (None)
Subdivision
Cantu - Guerra
Lot features
Downtown
Directions
Approaching from the north, take the south exit from Highway 83, proceed down Veterans Boulevard, and you'll find it on the right side. If you're coming from the south, turn onto Veterans Boulevard, head north, and the location will be on your left side.
Standard status
Pending
APN
C129302000000100
Size
2,304 SF
Lot size
0.58 Acres
Taxes and HOA fees
Tax Year
2023
Tax Annual Amount
6008
Building Details
Year built
1999
Floors in Building
1
Building materials
Block
Roof type
Metal
Listing Agency:
Encore Fine Properties
Listed By:
Ravi Murjani · License #TREC#0569922
(956) 821-6170
Added: Feb 19, 2024
Changed: Sep 4
Last Checked: Sep 7 at 4:06PM
MLS# 425926
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 self-service car wash occupies a 2,304-square-foot commercial building on 0.5819 acres. The property is currently operating as a DIY wash with a drive-through configuration, offering an established automotive-service layout. Built in 1999, the structure features block construction and a metal roof; the property has no water heater.
The site is located at 407 N Veterans Boulevard in Pharr, Texas, a few blocks from the main highway. CO zoning supports the property's commercial designation, while its placement on Veterans Boulevard provides direct street access within the local roadway network.
The site is located at 407 N Veterans Boulevard in Pharr, Texas, a few blocks from the main highway. CO zoning supports the property's commercial designation, while its placement on Veterans Boulevard provides direct street access within the local roadway network.
Key Highlights
- Operating DIY car wash with drive‑through configuration
- 2,304 square feet of building area
- 0.5819‑acre site
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
$33,437
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
8.57%
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%
$668,740
$668.7K
Cap Rate 7%
$477,671
$477.7K
Cap Rate 9%
$371,522
$371.5K
Market Conditions
NOI Build-Up for 2,304 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
$47.3K $20.52/SF
− Vacancy
−$2.7K −$1.17/SF
EGI
$44.6K $19.35/SF
− OpEx
−$11.1K −$4.84/SF
NOI
$33.4K $14.51/SF
Area
Hidalgo County, TX
Vacancy
5.70%
Lease Rate
$20.52 /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%
$668,740
Cap Rate 7%
$477,671
Cap Rate 9%
$371,522
Alternative Uses
Best Use
Specialty Retail
$477.7K
$418.0K – $557.3K
NOI $33,437 @ 7.0% cap · market cap 8.57%
Second Best
Retail
$444.4K
$388.9K – $518.5K
NOI $31,109 @ 7.0% cap · market cap 7.98%
Theoretical Best
Hotel Hospitality
$1.74M
$1.52M – $2.02M
NOI $121,478 @ 7.0% cap · market cap 31.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
678
Businesses Nearby
23k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 55%
Dining 45%
Quick Quack Car Wash
Shops & Services
7,703 visits/mo
0.4 miles
KFC
Dining
6,608 visits/mo
0.5 miles
IBC Bank
Shops & Services
4,989 visits/mo
0.5 miles
SUBWAY
Dining
2,578 visits/mo
0.2 miles
Marco's Pizza
Dining
1,339 visits/mo
0.3 miles
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
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Self service car wash - Operating DIY wash facility with CO zoning and direct access from Veterans Boulevard.
Where is this self service car wash located?
The property is located at 407 N Veterans Boulevard Pharr, TX.
What is the asking price?
The asking price for this property is $390,000.
What are key features of this property?
This property features: Operating DIY car wash with drive‑through configuration; 2,304 square feet of building area; 0.5819‑acre site
