Brick Office Building with
For Sale
$229,000
Pending
108 N Nebraska Avenue, San Juan, TX 78589
COMMERCIAL - San Juan, TX
Property Size448 SF
Lot Size0.15 Acres
Days on Market56
Property Features for 108 N Nebraska Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C1
Parking
10
Security features
Security Lighting
Appliances
Electric Water Heater
Subdivision
San Juan Original Townsite
Directions
Exit toward Farm to Market Rd 1426/San Juan, Merge Onto W Expressway 83/E Frontage Rd, Turn Right onto N Nebraska Avenue. Visible sign.
Standard status
Pending
APN
S100000004001001
Size
448 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
2375
Utilities
Heating system
Central, Electric (Heating)
Cooling system
Electric, Central Air
Building Details
Year built
2022
Floors in Building
1
Building materials
Brick
Roof type
Composition
Listing Agency:
Encore Fine Properties
(956) 821-6170
Listed By:
David M. Olivarez
(956) 279-4916
Added: Jun 25
Changed: Aug 4
Last Checked: Aug 19 at 10:06AM
MLS# 492442
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.
Brick office building with on-site parking lot, built in 2022. The property is currently being leased.
Located in the heart of San Juan, Texas in a well-traveled area with businesses across the street and along Nebraska Ave. The building sits on a 0.1492-acre lot and is zoned C1 per San Juan City GIS.
The building features central air and central electric heating, with an electric water heater and a composition roof. Construction is brick.
Located in the heart of San Juan, Texas in a well-traveled area with businesses across the street and along Nebraska Ave. The building sits on a 0.1492-acre lot and is zoned C1 per San Juan City GIS.
The building features central air and central electric heating, with an electric water heater and a composition roof. Construction is brick.
Key Highlights
- Zoned C1
- Built in 2022
- Brick construction with composition roof
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
$7,494
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
3.27%
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%
$149,880
$149.9K
Cap Rate 7%
$107,057
$107.1K
Cap Rate 9%
$83,267
$83.3K
Market Conditions
NOI Build-Up for 448 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
$13.8K $30.72/SF
− Vacancy
−$3.8K −$8.42/SF
EGI
$10.0K $22.30/SF
− OpEx
−$2.5K −$5.58/SF
NOI
$7.5K $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%
$149,880
Cap Rate 7%
$107,057
Cap Rate 9%
$83,267
Alternative Uses
Best Use
Office B
$107.1K
$93.7K – $124.9K
NOI $7,494 @ 7.0% cap · market cap 3.27%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$337.4K
$295.3K – $393.7K
NOI $23,621 @ 7.0% cap · market cap 10.31%
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
542
Businesses Nearby
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?
Office units - Brick office building on C1 zoning with a parking lot, central HVAC, and electric water heater in San Juan.
Where is this office units located?
The property is located at 108 N Nebraska Avenue San Juan, TX.
What is the asking price?
The asking price for this property is $229,000.
What are key features of this property?
This property features: Zoned C1; Built in 2022; Brick construction with composition roof
