Renovated Mixed-Use
For Sale
$489,000
215 S Texas Boulevard Weslaco, Weslaco, TX 78596
Downtown property combines an event center, salon space, and upstairs loft apartments.
Property Size3,750 SF
Price / SF$130.40
Days on Market130
Property Features for 215 S Texas Boulevard Weslaco
General Information
Standard status
Active
Size
3,750 SF
Total Parking Spaces
4
Units
Unit Mix
6 x studio loft
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$3,126
Amenities
Hardwood,Tile
1875
HidalgoCAD
true
Downtown,See Remarks
2749.0716
4
25x110
0.0631
Blacktop,Covered,On Street
Storage,Balcony
City Street
3750
false
Building Details
Building Size
3,750 SF
Year Built
1935
Buildings
1
Stories
2
Listing Agency:
(956) 625-0050
Listed By:
Rudy Pena
(956) 625-0050
Source:
Goldenvalley-realestate
Added: Apr 24
Changed: Aug 30
Last Checked: Aug 31 at 12:56PM
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 Rudy Pena
Investment Insights
Based on property information with market context.
Built in 1935, this 3,750-square-foot mixed-use building includes a renovated façade and interior. The property features an event center, a separate hair salon area, and six upstairs units finished as vintage studio loft apartments. Wall-mounted air conditioning is included, along with additional storage.
The building is located at 215 S Texas Boulevard in downtown Weslaco, adjacent to El Tinaco, a historic water tower recognized by local residents. Parking includes four spaces, a covered paved driveway, and on-street parking. The combination of commercial space, residential units, and a recognizable downtown setting creates a flexible mixed-use configuration.
The building is located at 215 S Texas Boulevard in downtown Weslaco, adjacent to El Tinaco, a historic water tower recognized by local residents. Parking includes four spaces, a covered paved driveway, and on-street parking. The combination of commercial space, residential units, and a recognizable downtown setting creates a flexible mixed-use configuration.
Key Highlights
- 3,750‑square‑foot mixed‑use building constructed in 1935
- Six upstairs units finished as vintage studio loft apartments
- Renovated façade and interior
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
$37,969
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
7.76%
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%
$759,380
$759.4K
Cap Rate 7%
$542,414
$542.4K
Cap Rate 9%
$421,878
$421.9K
Market Conditions
NOI Build-Up for 3,750 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
$67.5K $18.00/SF
− Vacancy
−$6.8K −$1.80/SF
EGI
$60.8K $16.20/SF
− OpEx
−$22.8K −$6.07/SF
NOI
$38.0K $10.13/SF
Area
Hidalgo County, TX
Vacancy
10.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
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%
$759,380
Cap Rate 7%
$542,414
Cap Rate 9%
$421,878
Alternative Uses
Best Use
Retail
$723.3K
$632.9K – $843.9K
NOI $50,633 @ 7.0% cap · market cap 10.35%
Second Best
Mixed Use
$542.4K
$474.6K – $632.8K
NOI $37,969 @ 7.0% cap · market cap 7.76%
Theoretical Best
Hotel Hospitality
$2.82M
$2.47M – $3.30M
NOI $197,719 @ 7.0% cap · market cap 40.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
927
Businesses Nearby
Explore this area
Business Placement
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 Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Downtown property combines an event center, salon space, and upstairs loft apartments.
Where is this mixed-use property located?
The property is located at 215 S Texas Boulevard Weslaco Weslaco, TX.
What is the asking price?
The asking price for this property is $489,000.
What are key features of this property?
This property features: 3,750‑square‑foot mixed‑use building constructed in 1935; Six upstairs units finished as vintage studio loft apartments; Renovated façade and interior
