Freestanding Storefront
For Sale
$750,000
101 E Expressway 83, La Feria, TX 78559
Freestanding commercial space with Expressway 83 frontage and access suited to retail or service-oriented operations.
Property Size3,600 SF
Days on Market9
Property Features for 101 E Expressway 83
General Information
Standard status
Active
Size
3,600 SF
Property subtype
Retail
Building Details
Building Size
3,600 SF
Year Built
1989
Listing Agency:
Cravey Real Estate Services, Inc.
(361) 815-2155
Listed By:
Lynann Pinkham · License #TX #319336
(361) 815-2155
Source:
Craveyrealestate
Added: Aug 22
Changed: Aug 30
Last Checked: Jun 2 at 4:31AM
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 Cravey Real Estate Services, Inc.
Investment Insights
Based on property information with market context.
This 3,600-square-foot freestanding storefront property at 101 E Expressway 83 offers a former convenience-store layout with the previous fuel canopies and tanks removed. The building can support retail, quick-service restaurant, or service-based commercial uses.
The property fronts Expressway 83, also identified as Interstate 2, at the same intersection where Stripes relocated to construct a larger facility. Its position provides access to local and regional traffic, with proximity to U.S.–Mexico trade routes and logistics hubs.
The property fronts Expressway 83, also identified as Interstate 2, at the same intersection where Stripes relocated to construct a larger facility. Its position provides access to local and regional traffic, with proximity to U.S.–Mexico trade routes and logistics hubs.
Key Highlights
- 3,600‑square‑foot freestanding storefront property
- Former convenience store and gas station; canopies and tanks removed
- Frontage on Expressway 83, also identified as Interstate 2
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
$36,703
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
4.89%
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%
$734,060
$734.1K
Cap Rate 7%
$524,329
$524.3K
Cap Rate 9%
$407,811
$407.8K
Market Conditions
NOI Build-Up for 3,600 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
$51.8K $14.40/SF
− Vacancy
−$2.9K −$0.81/SF
EGI
$48.9K $13.59/SF
− OpEx
−$12.2K −$3.40/SF
NOI
$36.7K $10.20/SF
Area
Cameron County, TX
Vacancy
5.60%
Lease Rate
$14.40 /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%
$734,060
Cap Rate 7%
$524,329
Cap Rate 9%
$407,811
Alternative Uses
Best Use
Specialty Retail
$524.3K
$458.8K – $611.7K
NOI $36,703 @ 7.0% cap · market cap 4.89%
Second Best
Retail
$489.4K
$428.2K – $570.9K
NOI $34,256 @ 7.0% cap · market cap 4.57%
Theoretical Best
Healthcare Medical
$619.9K
$542.4K – $723.2K
NOI $43,390 @ 7.0% cap · market cap 5.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
344
Businesses Nearby
196k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 54%
Dining 46%
Stripes
Shops & Services
32,028 visits/mo
0.1 miles
Whataburger
Dining
25,233 visits/mo
0.0 miles
McDonald's
Dining
24,882 visits/mo
0.1 miles
Dollar Tree
Shops & Services
14,334 visits/mo
0.2 miles
Stripes
Shops & Services
10,135 visits/mo
0.4 miles
Demographics for 78559, TX
12,533
Population
5,047
Households
2.5
Avg Household Size
37
Median Age
14%
College-Educated
72%
High-School Grad
36.3 sq mi
ZIP Area
345
Density / Sq Mi
$48,117
Median Household Income
$31,927
Median Earnings
$985
Median Rent
$99,900
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Tonie's Flowers — 202 S Main St, La Feria, TX 78559
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- FIORES Flower shop — La Feria, TX 78559
Frequently Asked Questions
What type of property is this?
Storefront property - Freestanding commercial space with Expressway 83 frontage and access suited to retail or service-oriented operations.
Where is this storefront property located?
The property is located at 101 E Expressway 83 La Feria, TX.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 3,600‑square‑foot freestanding storefront property; Former convenience store and gas station; canopies and tanks removed; Frontage on Expressway 83, also identified as Interstate 2
