Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1617 W Polk Ave Pharr, TX 78577

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $1,599,000

    Fully equipped restaurant with patio, smoker area, and drive-thru.

    Type:Retail
    Property size:
    4,840 SF
    Added:
    Mar 6, 2026
    Days on Market:
    26
    Last Refresh:
    Mar 26 at 11:04 pm

    Property Features for 1617 W Polk Ave

    General Information

    Standard status
    Active
    Size
    4,840 SF
    Property subtype
    Retail

    Building Details

    Year Built
    2018

    We can help!

    Listing Contact
    Laura Liza Paz, SIOR

    Listing agent Laura Liza Paz, SIOR License #TX #437175

    Listing office

    Listing date Mar 6, 2026

    Source Naiglobal

    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 Laura Liza Paz, SIOR

    Overview

    Turnkey Restaurant in High-Traffic Location

    This is a 4,840 square foot free-standing restaurant built in 2018. It is located in a high-traffic area next to Cinemark and Pharr Town Centre. The property features a 1,295 square foot outdoor patio, a 675 square foot smoker/pit area, and a drive-thru. The restaurant is fully equipped and designed for dining. It is positioned just east of the intersection of North Jackson Road and Polk, with proximity to Business Hwy 83 and Interstate 2. There is plenty of parking available.
    Location Intelligence

    Current Use by Public Records

    Conventional restaurants

    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
    -98.2019
    Latitude
    26.2065

    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
    • $1,200,000
      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
    • $580,000
      5,000 SF

      Pharr Commercial Investment Opportunity

      Prime location with high visibility, ideal for retail/office/mixed-use.
      2304 Cage Boulevard, Pharr, TX 78577
      View Details
    • $1,100,000
      7,584 SF

      Pharr Warehouse with Office Space

      7,584 SF warehouse with office space for sale.
      1709 Mozelle 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
    • $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
    • $375,500
      3,796 SF

      Pharr Fourplex Investment Opportunity

      Fully occupied fourplex in Pharr, TX, excellent investment opportunity.
      201 W Albatross Avenue, 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
    • $275,000
      1,200 SF

      Turnkey Restaurant in South Pharr

      Established restaurant for sale in a prime location.
      5814 Cage Boulevard, Pharr, TX 78577
      View Details
    • $375,500
      3,796 SF

      Pharr Fourplex: Investment Opportunity

      Fully occupied fourplex in Pharr, TX, built in 2014.
      115 W Albatross Avenue, Pharr, TX 78577
      View Details

    FAQs

    What type of property is this?
    Conventional restaurant - Fully equipped restaurant with patio, smoker area, and drive-thru.
    Where is this conventional restaurant located?
    The property is located at 1617 W Polk Ave Pharr, TX.
    What is the asking price?
    The asking price for this property is $1,599,000.
    What are key features of this property?
    This property features: Turnkey, fully equipped 4,840 SF free‑standing restaurant.; Prime, high‑traffic location next to Cinemark and Pharr Town Centre.; Built in 2018, offering modern construction and design.
    (956) 227-8000
    We can help!
    Listing Contact
    Laura Liza Paz, SIOR
    Real Estate License ID: TX #437175
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!