Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search

    126 E Las Milpas Rd Pharr, TX

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    38.62 acre land tract in Pharr, Texas.

    Type:LAND
    Lot size:
    32.10 Acres
    Added:
    Jul 3, 2025
    Days on Market:
    308
    Last Refresh:
    Apr 5 at 10:52 pm

    Property Features for 126 E Las Milpas Rd

    General Information

    Standard status
    Active
    Lot size
    32.10 Acres
    Property subtype
    LAND

    We can help!

    Listing Contact
    Blake J. Box
    Blake J. Box

    Listing agent Blake J. Box

    Listing office Aztec Realty & Investments

    Listing date Jul 3, 2025

    Source Moodyscre

    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 Aztec Realty & Investments

    HighLights

    • Large 38.62 acre tract in rapidly developing south Pharr, TX.
    • Prime location on Las Milpas Road with approximately 1,190' of frontage.
    • Adjacent to future planned light industrial warehouse development.
    • Recent upgrades to water and drainage lines enhance development potential.
    • Priced at $42,500/acre.
    • Topographic survey available indicating approximately 35.2 net acres.

    Overview

    Pharr Land Tract For Sale

    This 38.62 gross acre tract of land, priced at $42,500 per acre, is currently in agricultural use. It is located on the south side of Las Milpas Road, between Veterans Road and Cage Boulevard (Business Highway 281) in the Las Milpas area of south Pharr, TX. The property has approximately 1,190 feet of frontage on Las Milpas Road and is adjacent to future planned light industrial warehouse development. An underground gas transmission line runs diagonally through the middle of this property, which would affect some uses. The property will require rezoning through the City of Pharr. Recent upgrades to water lines and drainage lines in the immediate area will allow for more development options with this property. An unsigned topographic survey indicates that the net acreage is closer to 35.2 acres. This tract is labeled Lot 3 on the aerial survey.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Pharr
    County
    Hidalgo
    State
    Texas
    Longitude
    -98.1957
    Latitude
    26.1164

    Nearby Similar for Sale

    • $590,000
      4,280 SF

      Pharr Commercial Property For Sale

      Turn-key commercial property suitable for medical, daycare, or professional use.
      819 E Eller Avenue, Pharr, TX 78577
      View Details
    • $1,290,000
      5,766 SF

      Pharr Commercial Opportunity on I-2

      Prime commercial property with high visibility and redevelopment potential.
      507 E Interstate 2, Pharr, TX 78577
      View Details
    • $1,200,000
      8,674 SF

      Prime Corner Commercial Property

      Highly visible corner location in Pharr, Texas, suitable for various businesses.
      301 N Cage Boulevard, Pharr, TX 78577
      View Details
    • $1,250,000
      6,264 SF

      Pharr Commercial Investment Opportunity

      High-visibility commercial property on a busy corridor with immediate access.
      1000 N Cage Boulevard, Pharr, TX 78577
      View Details
    • $499,000
      3,823 SF

      Restaurant Building with Commercial Kitchen

      Former restaurant with kitchen, suitable for retail or redevelopment.
      6701 S Jackson Road, Pharr, TX 78577
      View Details
    • $275,000
      512 SF

      Pharr Commercial Opportunity For Sale

      Commercial property in Pharr, TX, suitable for auto-related operations.
      206 W Dicker Drive, Pharr, TX 78577
      View Details
    • $396,000
      3,640 SF

      Pharr Fourplex: Income-Generating Property

      Well-maintained fourplex in prime location near shopping and expressway.
      2205 N Erica Street, Pharr, TX 78577
      View Details
    • $760,000
      7,998 SF

      Leased Apartment Complex in Pharr

      Fully leased 9-unit apartment complex with upside potential.
      8005 Cisne Street, Pharr, TX 78577
      View Details
    • $379,000
      3,744 SF

      Gated 4-Plex Near Expressway

      Four identical units with modern kitchens and private entrances.
      2216 N Dahlia Street, Pharr, TX 78577
      View Details
    • $2,798,800
      23,400 SF

      Pharr Industrial Property with Rail Access

      1.85-acre industrial property with 23,000 SQFT and private rail access.
      100 N Dogwood Street, Pharr, TX 78577
      View Details
    • $660,000

      Prime Commercial Lot in Pharr

      1.5 acre vacant lot in high-traffic area, owner financing.
      1209 E Nolana Loop, Pharr, TX 78577
      View Details
    • $1,003,900
      1,200 SF

      Commercial Property on I69 & US281

      Commercial property with high visibility and income potential.
      2200 & 2114 CAGE BLVD, N, PHARR, TX 78577
      View Details

    FAQs

    What type of property is this?
    Land - 38.62 acre land tract in Pharr, Texas.
    Where is this land located?
    The property is located at 126 E Las Milpas Rd Pharr, TX.
    What is the asking price?
    The asking price for this property is $1,641,350.
    What are key features of this property?
    This property features: Large 38.62 acre tract in rapidly developing south Pharr, TX.; Prime location on Las Milpas Road with approximately 1,190' of frontage.; Adjacent to future planned light industrial warehouse development.
    (956) 571-0484 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Blake J. Box
    Blake J. Box
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    126 E Las Milpas Rd, Pharr, TX
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!