Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Pharr Professional Facility For Lease Title is generated by Realmo AI

    1503 W Polk Ave., Pharr, TX 78577

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $17 SF/Yr $42,083/Mo (calc)

    29,706 SF building suitable for various professional uses.

    Type:Office
    Property size:
    29,706 SF
    Added:
    Mar 6, 2026
    Days on Market:
    72
    Last Refresh:
    Apr 6 at 12:16 am

    Property Features for 1503 W Polk Ave.

    General Information

    Standard status
    Active
    Size
    29,706 SF
    Property subtype
    Office

    Building Details

    Year Built
    1984

    Spaces For Lease

    at 1503 W Polk Ave. Contact us

    We can help!

    Listing Contact
    Eric Carrizales, CCIM, CPM

    Listing agent Eric Carrizales, CCIM, CPM

    Listing office

    Listing date Mar 6, 2026

    Source Svn

    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 Eric Carrizales, CCIM, CPM

    HighLights

    • 29,706 SF building suitable for multiple users or a single tenant.
    • Prime location on W Polk Avenue near I‑2 & I‑69C providing excellent regional access.
    • Adaptable space for professional, administrative, medical, educational, or service‑oriented businesses.
    • Shadow‑anchored by Pharr Town Center with retailers like Cinemark, Academy, IKEA, and Main Event.
    • High traffic location with strong consumer draw.
    • Formerly occupied by Texas Health & Human Services.

    Overview

    Located at 1503 W Polk Avenue in Pharr, Texas, this 29,706 SF building, formerly occupied by Texas Health & Human Services, is available for lease. The property can accommodate multiple users or a single full-building tenant, offering flexibility for a wide range of professional, administrative, medical, educational, or service-oriented operations. The building is situated along W Polk Avenue near I-2 & I-69C, providing direct connectivity throughout the Rio Grande Valley. It is shadow-anchored by Pharr Town Center, which includes Cinemark, Academy, IKEA, Main Event, Burlington, Chipotle, Stefano’s, and Parry’s Pizza. The location benefits from a strong consumer draw and daytime population due to surrounding retail, government, and institutional tenants.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office buildings

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Dental Office Building Supply Big Box & Wholesale Store Hair Salon Auto Repair Shop 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
    -98.2014709
    Latitude
    26.2065467

    Nearby Similar for Lease

    • $600/Mo
      3,036 SF

      Pharr Office Suites For Lease

      Office suites for lease with included amenities and utilities.
      1431 Polk Avenue, Pharr, TX 78577
      View Details
    • $6,000/Mo
      5,250 SF

      Versatile Commercial Building in Pharr

      5,250 SF commercial building with retail, showroom, and warehouse space.
      1313 W Ferguson Avenue, Pharr, TX 78577
      View Details
    • $2,813/Mo
      8,026 SF

      New Flex Space in Pharr

      New construction flex space suitable for retail, office, or industrial.
      3550 N Birch Street, Pharr, TX 78577
      View Details
    • $3,500/Mo
      1,000 SF

      Versatile Commercial Suite in Pharr

      High-traffic location, ideal for various businesses.
      8001 S Jackson Highway, Pharr, TX 78503
      View Details
    • $2,813/Mo
      8,026 SF

      New Flex Space in Pharr

      Modern flex space suitable for retail, office, or industrial uses.
      3550 N Birch Street, Pharr, TX 78577
      View Details
    • $1,500/Mo
      3,960 SF

      Retail Space in Growing Area

      Blank slate retail space with buildout and rebate opportunity.
      1015 Minnesota Avenue, Pharr, TX 78577
      View Details
    • $35 SF/Yr
      14,200 SF

      Retail Destination in Pharr Town Center

      Dynamic retail and entertainment destination in the Rio Grande Valley.
      1301 W. Polk Ave. & 530 N. Jackson Rd., Pharr, TX 78577
      View Details
    • $2 SF/Yr
      1,848 SF

      Prime Retail Space Available

      Former bank space on hard corner of I-2 and Veterans.
      1200 INTERSTATE 2, Pharr, TX 78577
      View Details
    • $0.74 SF/Yr
      75,000 SF

      New Class A Warehouse in Pharr

      75,000 SF Class A warehouse near Pharr International Bridge.
      890 E. Military Highway, Pharr, TX 78577
      View Details
    • $3,930/Mo
      3,275 SF

      Stand-Alone Medical Clinic For Lease

      Well-laid out medical clinic ready for immediate operation.
      1100 W Sam Houston Blvd, Pharr, TX 78577
      View Details
    • $1.25 SF/Yr
      1,752 SF

      Office/Retail Space on North Sugar

      1,752 SF office/retail space in high-traffic area.
      835 Del Oro Lane, Pharr, TX 78577
      View Details
    • Contact for pricing
      470,000 SF

      Pharr Town Center Retail Space

      Retail and entertainment destination in the Rio Grande Valley.
      1301 W. Polk Ave. & 530 N. Jackson Rd., Pharr, TX 78577
      View Details

    FAQs

    What type of property is this?
    Office building - 29,706 SF building suitable for various professional uses.
    Where is this office building located?
    The property is located at 1503 W Polk Ave. Pharr, TX.
    What is the lease rate?
    The lease rate is $17 SF/Yr.
    What are key features of this property?
    This property features: 29,706 SF building suitable for multiple users or a single tenant.; Prime location on W Polk Avenue near I‑2 & I‑69C providing excellent regional access.; Adaptable space for professional, administrative, medical, educational, or service‑oriented businesses.
    (956) 778-3449
    We can help!
    Listing Contact
    Eric Carrizales, CCIM, CPM
    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
    1503 W Polk Ave., Pharr, TX 78577
    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!