Flex Space with Warehouse
For Sale
$600,000
520 N Veterans Boulevard, San Juan, TX 78589
Commercial Sale, San Juan, TX
Property Size5,150 SF
Lot Size0.30 Acres
Price / SF$116.50
Days on Market132
Property Features for 520 N Veterans Boulevard
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
CO
Parking
12
Accessibility
Accessible Approach with Ramp
Appliances
Electric Water Heater
Subdivision
Eugenia
Directions
Google maps: https://maps.app.goo.gl/D1xq82MxCECDKUd56
Standard status
Active
APN
E750000000001800
Size
5,150 SF
Lot size
0.30 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
6344
Utilities
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1981
Floors in Building
1
Building materials
Aluminum Siding, Block
Roof type
Metal
Listing Agency:
Cobos Real Estate Services LLC
(956) 802-1982
Listed By:
Alejandra E. Cobos · License #582452
(956) 628-4663
Added: May 1
Changed: Aug 19
Last Checked: Sep 9 at 3:06AM
MLS# 452844
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 flex property combines 1,250 square feet of office space with approximately 3,882 square feet of warehouse storage within a 5,150-square-foot commercial building. Built in 1981, the improvements feature block and aluminum siding construction, a metal roof, central heating, and central air conditioning. An accessible approach with ramp provides an additional physical feature.
The property is located at 520 N Veterans Boulevard in San Juan, Texas, between I-2 and the Pharr Bridge. Its CO zoning and position along a major transportation route support a configuration that brings office functions and warehouse storage together. The site encompasses 0.2969 acres and includes an electric water heater.
The property is located at 520 N Veterans Boulevard in San Juan, Texas, between I-2 and the Pharr Bridge. Its CO zoning and position along a major transportation route support a configuration that brings office functions and warehouse storage together. The site encompasses 0.2969 acres and includes an electric water heater.
Key Highlights
- 5,150‑square‑foot flex property with 1,250 square feet of office space
- Approximately 3,882 square feet of warehouse storage
- CO zoning on a 0.2969‑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
$32,907
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
5.48%
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%
$658,140
$658.1K
Cap Rate 7%
$470,100
$470.1K
Cap Rate 9%
$365,633
$365.6K
Market Conditions
NOI Build-Up for 5,150 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
$41.4K $8.04/SF
− Vacancy
−$2.7K −$0.52/SF
EGI
$38.7K $7.52/SF
− OpEx
−$5.8K −$1.13/SF
NOI
$32.9K $6.39/SF
Area
Hidalgo County, TX
Vacancy
6.50%
Lease Rate
$8.04 /SF/Yr
Expense Ratio
15.00%
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%
$658,140
Cap Rate 7%
$470,100
Cap Rate 9%
$365,633
Alternative Uses
Best Use
Office B
$1.23M
$1.08M – $1.44M
NOI $86,144 @ 7.0% cap · market cap 14.36%
Second Best
Warehouse
$470.1K
$411.3K – $548.5K
NOI $32,907 @ 7.0% cap · market cap 5.48%
Theoretical Best
Hotel Hospitality
$3.88M
$3.39M – $4.53M
NOI $271,534 @ 7.0% cap · market cap 45.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
678
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 78589, TX
38,987
Population
12,393
Households
3.1
Avg Household Size
32
Median Age
13%
College-Educated
62%
High-School Grad
25.5 sq mi
ZIP Area
1,529
Density / Sq Mi
$51,662
Median Household Income
$27,679
Median Earnings
$926
Median Rent
$112,400
Median Home Value
Market
Vacancy Rate% for Office 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?
Flex space - Combined office and warehouse improvements support administrative functions, storage, and business operations in one commercial property.
Where is this flex space located?
The property is located at 520 N Veterans Boulevard San Juan, TX.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: 5,150‑square‑foot flex property with 1,250 square feet of office space; Approximately 3,882 square feet of warehouse storage; CO zoning on a 0.2969‑acre site
