Three-Building Office
1401 W Polk Avenue, Pharr, TX 78577
For Sale
New
$2,450,000
The C3-zoned complex includes separate office buildings and dedicated studio spaces.
Property Size10,397 SF
Price / SF$235.64
Days on Market2
Property Features for 1401 W Polk Avenue
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Additional Details
Highway Access
Property Use
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Buildings
Stories
Listing Agency:
The Pecina Real Estate Group
(956) 581-5759
Listed By:
R. I. Nacho Pecina · License #222204
(956) 929-7125
Source:
Dolcevitargv
Added: Nov 6
Changed: Nov 7
Last Checked: Nov 7 at 2:05PM
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 The Pecina Real Estate Group
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Investment Insights
Based on property information with market context.
Three buildings form this office property, with a combined 10,397 square feet. The individual buildings measure 5,322, 2,518, and 2,557 square feet. A lower-level building at the west end is configured as a recording studio, while an upstairs building retains its photo-studio setup. Interior work is underway, along with parking lot repairs and landscaping improvements. The property was built in 1984 and is zoned C3.
The site is just west of the expressway and borders El Centro Mall and a movie theater, with Pappadeaux and other national brands also identified nearby. The complex has 42 parking spaces.
The site is just west of the expressway and borders El Centro Mall and a movie theater, with Pappadeaux and other national brands also identified nearby. The complex has 42 parking spaces.
Key Highlights
- Three office buildings totaling 10,397 square feet
- Building areas: 5,322, 2,518, and 2,557 square feet
- Recording studio occupies the lower building at the west end
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$173,911
Cap Rate
7.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,478,220
$3.5M
Cap Rate 7%
$2,484,443
$2.5M
Cap Rate 9%
$1,932,344
$1.9M
Market Conditions
NOI Build-Up for 10,397 SF
Gross rent
$319.4K $30.72/SF
− Vacancy
−$87.5K −$8.42/SF
EGI
$231.9K $22.30/SF
− OpEx
−$58.0K −$5.58/SF
NOI
$173.9K $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 Rate 5%
$3,478,220
Cap Rate 7%
$2,484,443
Cap Rate 9%
$1,932,344
Alternative Uses
Best Use
Office B
$2.48M
$2.17M – $2.90M
NOI $173,911 @ 7.0% cap · market cap 7.10%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$7.83M
$6.85M – $9.14M
NOI $548,182 @ 7.0% cap · market cap 22.37%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
882
Businesses Nearby
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Business Placement
Demographics for 78577, TX
79,937
Population
26,568
Households
3
Avg Household Size
30
Median Age
18%
College-Educated
70%
High-School Grad
26.0 sq mi
ZIP Area
3,075
Density / Sq Mi
$49,768
Median Household Income
$28,186
Median Earnings
$988
Median Rent
$111,500
Median Home Value
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Market
Average Price Trend$/SF for Office buildings in Hidalgo County, TX
Properties on Market for Office buildings in Hidalgo County
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - The C3-zoned complex includes separate office buildings and dedicated studio spaces.
Where is this office building located?
The property is located at 1401 W Polk Avenue Pharr, TX.
What is the asking price?
The asking price for this property is $2,450,000.
What are key features of this property?
This property features: Three office buildings totaling 10,397 square feet; Building areas: 5,322, 2,518, and 2,557 square feet; Recording studio occupies the lower building at the west end
