Flex Office and
For Sale
$600,000
520 Veterans Boulevard, San Juan, TX 78589
Versatile office and warehouse space totals 5,150 sq. ft., offering combined work and storage under one ownership.
Property Size5,150 SF
Price / SF$116.50
Days on Market799
Property Features for 520 Veterans Boulevard
General Information
Standard status
Active
Size
5,150 SF
Property subtype
General Commercial
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$6,344
Amenities
Central Air
3
12 Parking Spaces. Paved Driveway.
Handicapped Access. City Road, Paved Road.
Building Details
Year Built
1981
Listing Agency:
Cobos Real Estate Services Llc
Listed By:
Alejandra Cobos · License #582452
(956) 802-1982
Source:
Xome
Added: Jun 30, 2024
Changed: Sep 2
Last Checked: Sep 5 at 4:32AM
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 Cobos Real Estate Services Llc
Investment Insights
Based on property information with market context.
This property offers a combined flex setup with office space and warehouse/storage space. The layout includes approximately 1,250 sq. ft. of office area alongside approximately 3,882 sq. ft. of warehouse/storage space, for a total of 5,150 sq. ft.
The property is located at 520 N Veterans Boulevard in San Juan, Texas, and is described as being on a high-visibility route. Public remarks indicate the property is positioned between I-2 and the Pharr Bridge, providing access to major transport routes.
For prospective tenants or owners looking for a single property that supports both administrative space and on-site storage, this flex configuration may align with a range of operational needs within the total 5,150 sq. ft. footprint.
The property is located at 520 N Veterans Boulevard in San Juan, Texas, and is described as being on a high-visibility route. Public remarks indicate the property is positioned between I-2 and the Pharr Bridge, providing access to major transport routes.
For prospective tenants or owners looking for a single property that supports both administrative space and on-site storage, this flex configuration may align with a range of operational needs within the total 5,150 sq. ft. footprint.
Key Highlights
- Total of 5,150 sq. ft. combined office and warehouse space under one ownership
- 1,250 sq. ft. office space with central air
- Appx 3,882 sq. ft. warehouse storage
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
$32,907
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
5.48%
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%
$658,140
$658.1K
Cap Rate 7%
$470,100
$470.1K
Cap Rate 9%
$365,633
$365.6K
Market Conditions
NOI Build-Up for 5,150 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
$41.4K $8.04/SF
− Vacancy
−$2.7K −$0.52/SF
EGI
$38.7K $7.52/SF
− OpEx
−$5.8K −$1.13/SF
NOI
$32.9K $6.39/SF
Area
Hidalgo County, TX
Vacancy
6.50%
Lease Rate
$8.04 /SF/Yr
Expense Ratio
15.00%
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%
$658,140
Cap Rate 7%
$470,100
Cap Rate 9%
$365,633
Alternative Uses
Best Use
Office B
$1.23M
$1.08M – $1.44M
NOI $86,144 @ 7.0% cap · market cap 14.36%
Second Best
Warehouse
$470.1K
$411.3K – $548.5K
NOI $32,907 @ 7.0% cap · market cap 5.48%
Theoretical Best
Hotel Hospitality
$3.88M
$3.39M – $4.53M
NOI $271,534 @ 7.0% cap · market cap 45.26%
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
678
Businesses Nearby
Under-served
Demand for This Use
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
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Frequently Asked Questions
What type of property is this?
Flex space - Versatile office and warehouse space totals 5,150 sq. ft., offering combined work and storage under one ownership.
Where is this flex space located?
The property is located at 520 Veterans Boulevard San Juan, TX.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Total of 5,150 sq. ft. combined office and warehouse space under one ownership; 1,250 sq. ft. office space with central air; Appx 3,882 sq. ft. warehouse storage
