Two-Story Mixed-Use
For Sale
$2,583,000
902 S Cage Boulevard, Pharr, TX 78577
Commercial Sale, Pharr, TX
Property Size9,575 SF
Lot Size1.12 Acres
Price / SF$269.77
Days on Market143
Property Features for 902 S Cage Boulevard
General Information
Property type
Commercial Sale
Property subtype
Other
Parking
40
Parking features
Special Needs
Security features
Security Lighting
Accessibility
Accessible Approach with Ramp
Appliances
Electric Water Heater
Subdivision
De Alba
Directions
Take I-69C S to W Expy 83/W Frontage Rd, Follow W Expy 83/W Frontage Rd, N Sugar Rd and W Center Ave/E U.S. Business 83 to S Cage Blvd.Turn right after Church's Chicken (on the right) Destination will be on the right
Standard status
Active
APN
D175300000000100
Size
9,575 SF
Lot size
1.12 Acres
Taxes and HOA fees
Tax Year
2022
Tax Annual Amount
28700
Utilities
Heating system
Central
Cooling system
Central Air
Building Details
Year built
2006
Floors in Building
1
Building materials
Block, Stucco
Roof type
Slate
Listing Agency:
Keller Williams Realty RGV
(956) 928-1155
Listed By:
Jaime Lee Gonzalez · License #713189
(956) 599-8400
Added: Apr 15
Changed: Aug 31
Last Checked: Sep 4 at 2:06PM
MLS# 478549
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 9,575-square-foot mixed-use property contains two levels with distinct commercial functions. The ground floor is arranged for retail use and is currently operating as a meat market/restaurant, while the upper level provides office space for administrative or professional activities. The building was constructed in 2006 with block and stucco materials, central heating, central air, and a slate roof.
The property occupies 1.1185 acres at 902 S Cage Boulevard in Pharr, Texas. An accessible approach with ramp is provided, and the site includes special-needs parking. An electric water heater is also in place.
The property occupies 1.1185 acres at 902 S Cage Boulevard in Pharr, Texas. An accessible approach with ramp is provided, and the site includes special-needs parking. An electric water heater is also in place.
Key Highlights
- 9,575‑square‑foot two‑story mixed‑use property on 1.1185 acres
- First floor configured for retail and currently operating as a meat market/restaurant
- Second floor arranged as office space
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
$160,161
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
6.20%
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%
$3,203,220
$3.2M
Cap Rate 7%
$2,288,014
$2.3M
Cap Rate 9%
$1,779,567
$1.8M
Market Conditions
NOI Build-Up for 9,575 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
$294.1K $30.72/SF
− Vacancy
−$80.6K −$8.42/SF
EGI
$213.5K $22.30/SF
− OpEx
−$53.4K −$5.58/SF
NOI
$160.2K $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%
$3,203,220
Cap Rate 7%
$2,288,014
Cap Rate 9%
$1,779,567
Alternative Uses
Best Use
Office B
$2.29M
$2.00M – $2.67M
NOI $160,161 @ 7.0% cap · market cap 6.20%
Second Best
Specialty Retail
$1.99M
$1.74M – $2.32M
NOI $138,960 @ 7.0% cap · market cap 5.38%
Theoretical Best
Hotel Hospitality
$7.21M
$6.31M – $8.41M
NOI $504,842 @ 7.0% cap · market cap 19.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
681
Businesses Nearby
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Retail and office configuration supports customer-facing operations with administrative space above.
Where is this mixed-use property located?
The property is located at 902 S Cage Boulevard Pharr, TX.
What is the asking price?
The asking price for this property is $2,583,000.
What are key features of this property?
This property features: 9,575‑square‑foot two‑story mixed‑use property on 1.1185 acres; First floor configured for retail and currently operating as a meat market/restaurant; Second floor arranged as office space
