Freestanding Retail
For Sale
$1,650,000
2109 West Expressway 83, Weslaco, TX 78596
Expressway-facing commercial space is occupied under a lease scheduled to end September 30, 2028.
Property Size6,480 SF
Days on Market193
Property Features for 2109 West Expressway 83
General Information
Standard status
Active
Size
6,480 SF
Property subtype
Free Standing Building
Building Details
Building Size
6,480 SF
Year Built
1998
Listing Agency:
CHRE
(956) 325-3255
Listed By:
CYNTHIA HOPKINS · License #0508052
(956) 325-3255
Source:
Thebrokerlist
Added: Feb 18
Changed: Aug 30
Last Checked: Aug 30 at 12:24AM
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 CHRE
Investment Insights
Based on property information with market context.
This 6,480 sf freestanding retail building was built in 1998 and is currently occupied by Hermes Music, which has operated from the property for approximately 10 years. The existing lease is scheduled to expire on September 30, 2028, with no additional extension options stated. The building may continue with a tenant in place or transition to a new retail user after the current term.
Positioned along Interstate 2 at 2109 West Expressway 83, the property offers expressway frontage and reported traffic of 67,000 cars per day based on TXDOT 2023 data. The surrounding five-mile area has a reported population of 113,986, providing measurable market context for the site.
Positioned along Interstate 2 at 2109 West Expressway 83, the property offers expressway frontage and reported traffic of 67,000 cars per day based on TXDOT 2023 data. The surrounding five-mile area has a reported population of 113,986, providing measurable market context for the site.
Key Highlights
- 6,480 sf freestanding retail building
- Expressway frontage along Interstate 2
- 67,000 CPD [TX DOT 2023]
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
$87,494
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
5.30%
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%
$1,749,880
$1.7M
Cap Rate 7%
$1,249,914
$1.2M
Cap Rate 9%
$972,156
$972.2K
Market Conditions
NOI Build-Up for 6,480 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
$133.0K $20.52/SF
− Vacancy
−$8.0K −$1.23/SF
EGI
$125.0K $19.29/SF
− OpEx
−$37.5K −$5.79/SF
NOI
$87.5K $13.50/SF
Area
Hidalgo County, TX
Vacancy
6.00%
Lease Rate
$20.52 /SF/Yr
Expense Ratio
30.00%
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%
$1,749,880
Cap Rate 7%
$1,249,914
Cap Rate 9%
$972,156
Alternative Uses
Best Use
Retail
$1.25M
$1.09M – $1.46M
NOI $87,494 @ 7.0% cap · market cap 5.30%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$4.88M
$4.27M – $5.69M
NOI $341,658 @ 7.0% cap · market cap 20.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
833
Businesses Nearby
337k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 37%
Groceries 26%
Shops & Services 21%
Home Improvements & Furnishings 7%
H-E-B
Groceries
87,129 visits/mo
0.3 miles
McDonald's
Dining
41,717 visits/mo
0.2 miles
Whataburger
Dining
33,945 visits/mo
0.3 miles
H-E-B Fuel
Shops & Services
26,903 visits/mo
0.2 miles
Panda Express
Dining
20,877 visits/mo
0.2 miles
Demographics for 78596, TX
37,329
Population
15,824
Households
2.4
Avg Household Size
36
Median Age
21%
College-Educated
75%
High-School Grad
40.1 sq mi
ZIP Area
931
Density / Sq Mi
$53,797
Median Household Income
$31,618
Median Earnings
$917
Median Rent
$92,800
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Storefront property - Expressway-facing commercial space is occupied under a lease scheduled to end September 30, 2028.
Where is this storefront property located?
The property is located at 2109 West Expressway 83 Weslaco, TX.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: 6,480 sf freestanding retail building; Expressway frontage along Interstate 2; 67,000 CPD [TX DOT 2023]
