Residential Income Property with
For Sale
$189,000
1231 E EXPRESSWAY 77/83, San Benito, TX 78586
Commercial Sale, SAN BENITO, TX
Property Size2,014 SF
Lot Size0.34 Acres
Price / SF$93.84
Days on Market76
Property Features for 1231 E EXPRESSWAY 77/83
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
LIDIA'S
Standard status
Active
Size
2,014 SF
Lot size
0.34 Acres
Building Details
Year built
1993
Floors in Building
1
Listing Agency:
KELLER WILLIAMS LRGV · Keller Williams Realty
(956) 423-8877
Listed By:
LESLIE DE LA GARZA
(956) 392-2559
Added: Jul 5
Changed: Sep 16
Last Checked: Sep 18 at 1:06AM
MLS# 29777730
Copyright © 2026 Rio Grande Valley Multiple Listing Service Inc. 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.
Built in 1993, this residential income property contains 2,014 square feet on a 0.344-acre parcel. Long-term tenants are in place, and the property is generating rental income. The asset is located at 1231 E Expressway 77/83 in San Benito, Texas, providing a clearly identified address along the expressway corridor. The existing occupancy and documented building and lot size provide a straightforward basis for evaluating the property as a residential income asset.
Key Highlights
- 2,014‑square‑foot residential income property
- 0.344‑acre lot
- Built in 1993
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
$15,238
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
8.06%
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%
$304,760
$304.8K
Cap Rate 7%
$217,686
$217.7K
Cap Rate 9%
$169,311
$169.3K
Market Conditions
NOI Build-Up for 2,014 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
$29.7K $14.76/SF
− Vacancy
−$2.0K −$1.00/SF
EGI
$27.7K $13.76/SF
− OpEx
−$12.5K −$6.19/SF
NOI
$15.2K $7.57/SF
Area
Cameron County, TX
Vacancy
6.80%
Lease Rate
$14.76 /SF/Yr
Expense Ratio
45.00%
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%
$304,760
Cap Rate 7%
$217,686
Cap Rate 9%
$169,311
Alternative Uses
Best Use
Apartment 5plus
$217.7K
$190.5K – $254.0K
NOI $15,238 @ 7.0% cap · market cap 8.06%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$346.8K
$303.4K – $404.6K
NOI $24,274 @ 7.0% cap · market cap 12.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
228
Businesses Nearby
Explore this area
Business Placement
Demographics for 78586, TX
50,135
Population
16,145
Households
3.1
Avg Household Size
32
Median Age
12%
College-Educated
64%
High-School Grad
152.5 sq mi
ZIP Area
329
Density / Sq Mi
$44,158
Median Household Income
$25,906
Median Earnings
$839
Median Rent
$83,200
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Established long-term tenants occupy this income-producing residential property near Expressway 77/83.
Where is this residential income property located?
The property is located at 1231 E EXPRESSWAY 77/83 San Benito, TX.
What is the asking price?
The asking price for this property is $189,000.
What are key features of this property?
This property features: 2,014‑square‑foot residential income property; 0.344‑acre lot; Built in 1993
