Building Details

Year built 2017

Floors in Building 2

Listing Agency: Realty One Group, Modern Edge c***@gmail.com Show Phone

Listed By: ALEJANDRA GARZA Show Phone

Added: Dec 11, 2025 Changed: Aug 4 Last Checked: Aug 30 at 11:06AM

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MLS# 29770557

Copyright © 2026 Rio Grande Valley Multiple Listing Service Inc. 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.

This warehouse property offers 3,200 sq. ft of warehouse space on a 0.52-acre site. The interior includes two offices and one restroom, along with a spacious warehouse layout suited for storage and day-to-day operations.

The building is located right off I-69E/US-77 in Combes, with direct highway visibility and easy access for a wide range of commercial uses. Built in 2017, the property is positioned for convenient use in a high-traffic corridor.

The combination of dedicated office space and an open warehouse area can support businesses that need both operational workspace and straightforward logistics for receiving and storage.

Key Highlights

• 3,200 sq. ft warehouse on a 0.52‑acre lot
• Two offices and one restroom
• Built in 2017

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

$18,179

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

3.31%

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%

$363,580 $363.6K

Cap Rate 7%

$259,700 $259.7K

Cap Rate 9%

$201,989 $202.0K

Market Conditions

NOI Build-Up for 3,200 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

$22.7K $7.08/SF

− Vacancy

−$1.3K −$0.40/SF

EGI

$21.4K $6.68/SF

− OpEx

−$3.2K −$1.00/SF

NOI

$18.2K $5.68/SF

Area

Cameron County, TX

Vacancy

5.60%

Lease Rate

$7.08 /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%

$363,580

Cap Rate 7%

$259,700

Cap Rate 9%

$201,989

Alternative Uses

Best Use

Warehouse

$259.7K

$227.2K – $303.0K (±1% cap)

NOI $18,179 @ 7.0% cap · market cap 3.31%

Second Best

—

—

no second resolved use

Theoretical Best

Healthcare Medical

$551.0K

$482.1K – $642.8K (±1% cap)

NOI $38,569 @ 7.0% cap · market cap 7.01%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Warehouses

Lease Details

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

23

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 78535, TX

679

Population

246

Households

2.8

Avg Household Size

40

Median Age

13%

College-Educated

77%

High-School Grad

0.4 sq mi

ZIP Area

1,698

Density / Sq Mi

$30,144

Median Household Income

$767

Median Rent

$67,900

Median Home Value

Market

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

Questions? Ask Rey

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What type of property is this? Where is this warehouses located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Warehouse - Warehouse with two offices, one restroom, and warehouse space with direct expressway access.

Where is this warehouse located?

The property is located at 20544 US 77 EXPRESSWAY Combes, TX.

What is the asking price?

The asking price for this property is $550,000.

What are key features of this property?

This property features: 3,200 sq. ft warehouse on a 0.52‑acre lot; Two offices and one restroom; Built in 2017