Shopping Center with Vacant
For Sale
$1,250,000
1000 N Cage Boulevard, Pharr, TX 78577
High-visibility shopping center on a major Pharr corridor with vacant spaces for lease or immediate owner use.
Property Size6,264 SF
Days on Market63
Property Features for 1000 N Cage Boulevard
General Information
Standard status
Active
Size
6,264 SF
Property subtype
Commercial
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$19,822
Building Details
Building Size
6,264 SF
Year Built
2014
Listing Agency:
API Real Estate
Listed By:
Sergio A. Adame
Source:
Primeluxuryrealestate
Added: Jun 11
Changed: Aug 8
Last Checked: Aug 11 at 1:06PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of API Real Estate
Investment Insights
Based on property information with market context.
This for-sale shopping center offers a high-visibility commercial setup with vacant spaces available for lease. The property is positioned for flexible occupancy, allowing a buyer to lease the available suites or occupy immediately, depending on their operating needs.
The asset is located on N Cage Blvd, described as one of Pharr’s busiest and most established corridors, with prominent frontage and strong traffic counts. Immediate access to I-2/Expressway 83 is noted, supporting convenient arrival for customers and employees.
The mix of existing vacant retail, office, and service-oriented flexibility is intended to accommodate a range of users, including retail, medical, office, or service operations. The surrounding environment is described as a mix of national retailers, dense residential neighborhoods, and a strong daytime population, which may support a variety of everyday retail and service concepts. For investors, the ability to create income through lease-up of the vacant spaces is a key feature; for owner-users, the same vacancies provide a practical path to take over space quickly.
The asset is located on N Cage Blvd, described as one of Pharr’s busiest and most established corridors, with prominent frontage and strong traffic counts. Immediate access to I-2/Expressway 83 is noted, supporting convenient arrival for customers and employees.
The mix of existing vacant retail, office, and service-oriented flexibility is intended to accommodate a range of users, including retail, medical, office, or service operations. The surrounding environment is described as a mix of national retailers, dense residential neighborhoods, and a strong daytime population, which may support a variety of everyday retail and service concepts. For investors, the ability to create income through lease-up of the vacant spaces is a key feature; for owner-users, the same vacancies provide a practical path to take over space quickly.
Key Highlights
- Shopping center on N Cage Blvd in Pharr, built in 2014
- High‑visibility retail center with prominent frontage on a major Pharr corridor
- Immediate access to I‑2/Expressway 83
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
$104,778
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
8.38%
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%
$2,095,560
$2.1M
Cap Rate 7%
$1,496,829
$1.5M
Cap Rate 9%
$1,164,200
$1.2M
Market Conditions
NOI Build-Up for 6,264 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
$192.4K $30.72/SF
− Vacancy
−$52.7K −$8.42/SF
EGI
$139.7K $22.30/SF
− OpEx
−$34.9K −$5.58/SF
NOI
$104.8K $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%
$2,095,560
Cap Rate 7%
$1,496,829
Cap Rate 9%
$1,164,200
Alternative Uses
Best Use
Office B
$1.50M
$1.31M – $1.75M
NOI $104,778 @ 7.0% cap · market cap 8.38%
Second Best
Retail
$1.21M
$1.06M – $1.41M
NOI $84,578 @ 7.0% cap · market cap 6.77%
Theoretical Best
Hotel Hospitality
$4.72M
$4.13M – $5.50M
NOI $330,269 @ 7.0% cap · market cap 26.42%
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
786
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Shopping center - High-visibility shopping center on a major Pharr corridor with vacant spaces for lease or immediate owner use.
Where is this shopping center located?
The property is located at 1000 N Cage Boulevard Pharr, TX.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Shopping center on N Cage Blvd in Pharr, built in 2014; High‑visibility retail center with prominent frontage on a major Pharr corridor; Immediate access to I‑2/Expressway 83
