Fully Fenced Flex Space with Garage
For Sale
$1,750,000
1513 E Expressway 83 Highway, Alamo, TX 78516
COMMERCIAL - Alamo, TX
Property Size5,408 SF
Lot Size2.64 Acres
Price / SF$323.59
Days on Market22
Property Features for 1513 E Expressway 83 Highway
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
CO
Parking
6
Exterior features
Workshop
Appliances
Electric Water Heater, Water Heater (Other Location)
Subdivision
Alamo Land & Sugar Co
Directions
From McAllen go East on Expressway 83, take Cesar Chavez Exit, continue on Frontage. The property is on the south side just passing Alamo WalMart.
Standard status
Active
APN
A180000036000707
Size
5,408 SF
Lot size
2.64 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
22436
Utilities
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1990
Floors in Building
1
Building materials
Block
Additional Structures
Workshop
Listing Agency:
Zapphire Real Estate Group
(956) 600-7494
Listed By:
Rhonda Valdes
(956) 279-9988
Added: Jul 29
Changed: Aug 17
Last Checked: Aug 19 at 11:06AM
MLS# 494274
Copyright © 2026 Greater McAllen Association of Realtors. 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.
Fully fenced flex space on 2.64 acres featuring an office and a spacious garage bay, with workshop space on site. The property is constructed with block exterior materials and was built in 1990. Interior comfort is supported by central heating and central air conditioning, and the building includes an electric water heater and an additional water heater (other location).
The site is located just off the Expressway and adjacent to Alamo Walmart, offering convenient access and strong day-to-day visibility for a variety of business operations.
With its combination of office space and a garage bay, the property provides flexible space for users seeking a site that can support both administrative needs and hands-on operations.
The site is located just off the Expressway and adjacent to Alamo Walmart, offering convenient access and strong day-to-day visibility for a variety of business operations.
With its combination of office space and a garage bay, the property provides flexible space for users seeking a site that can support both administrative needs and hands-on operations.
Key Highlights
- Fully fenced 2.64‑acre flex space just off the Expressway
- Office plus spacious garage bay for flexible operations
- Adjacent to Alamo Walmart with strong visibility and convenient access
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
$90,460
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
5.17%
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%
$1,809,200
$1.8M
Cap Rate 7%
$1,292,286
$1.3M
Cap Rate 9%
$1,005,111
$1.0M
Market Conditions
NOI Build-Up for 5,408 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
$166.1K $30.72/SF
− Vacancy
−$45.5K −$8.42/SF
EGI
$120.6K $22.30/SF
− OpEx
−$30.2K −$5.58/SF
NOI
$90.5K $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 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%
$1,809,200
Cap Rate 7%
$1,292,286
Cap Rate 9%
$1,005,111
Alternative Uses
Best Use
Office B
$1.29M
$1.13M – $1.51M
NOI $90,460 @ 7.0% cap · market cap 5.17%
Second Best
Industrial
$406.5K
$355.7K – $474.3K
NOI $28,458 @ 7.0% cap · market cap 1.63%
Theoretical Best
Hotel Hospitality
$4.07M
$3.56M – $4.75M
NOI $285,137 @ 7.0% cap · market cap 16.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
182
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 78516, TX
34,506
Population
12,469
Households
2.8
Avg Household Size
32
Median Age
12%
College-Educated
59%
High-School Grad
37.8 sq mi
ZIP Area
913
Density / Sq Mi
$51,547
Median Household Income
$26,908
Median Earnings
$743
Median Rent
$102,900
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Fully fenced flex space with office and garage bay, zoned CO, with central HVAC and block construction built in 1990.
Where is this flex space located?
The property is located at 1513 E Expressway 83 Highway Alamo, TX.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: Fully fenced 2.64‑acre flex space just off the Expressway; Office plus spacious garage bay for flexible operations; Adjacent to Alamo Walmart with strong visibility and convenient access
