Renovated Mixed-Use Event
For Sale
$489,000
219 S Texas Boulevard, Weslaco, TX 78596
Downtown property with high ceilings and an established event-center use.
Property Size3,192 SF
Price / SF$153.20
Days on Market130
Property Features for 219 S Texas Boulevard
General Information
Standard status
Active
Size
3,192 SF
Building Details
Year Built
1979
Listing Agency:
URSA Real Estate
(956) 784-9874
Listed By:
Jacob Galvan
Source:
Aregtx
Added: Apr 24
Changed: Aug 30
Last Checked: Jul 21 at 1:22AM
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 URSA Real Estate
Investment Insights
Based on property information with market context.
This mixed-use building contains 3,192 square feet and currently operates as an event center. The façade and interior have been renovated, while high ceilings contribute to the building’s character and usable volume. Constructed in 1979, the property combines an established downtown setting with an active event-oriented configuration.
Located at 219 S Texas Boulevard in Weslaco, the building is adjacent to El Tinaco, a historic water tower associated with the local area. Access is provided from a city road, with a paved driveway, on-street parking, and 2 on-site parking spaces. The property’s downtown placement and existing event-center use support its mixed-use classification.
Located at 219 S Texas Boulevard in Weslaco, the building is adjacent to El Tinaco, a historic water tower associated with the local area. Access is provided from a city road, with a paved driveway, on-street parking, and 2 on-site parking spaces. The property’s downtown placement and existing event-center use support its mixed-use classification.
Key Highlights
- 3,192 SF mixed‑use building
- Renovated façade and interior with high ceilings
- Currently operates as an event center
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
$32,319
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
6.61%
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%
$646,380
$646.4K
Cap Rate 7%
$461,700
$461.7K
Cap Rate 9%
$359,100
$359.1K
Market Conditions
NOI Build-Up for 3,192 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
$57.5K $18.00/SF
− Vacancy
−$5.7K −$1.80/SF
EGI
$51.7K $16.20/SF
− OpEx
−$19.4K −$6.07/SF
NOI
$32.3K $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%
$646,380
Cap Rate 7%
$461,700
Cap Rate 9%
$359,100
Alternative Uses
Best Use
Mixed Use
$461.7K
$404.0K – $538.7K
NOI $32,319 @ 7.0% cap · market cap 6.61%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$2.40M
$2.10M – $2.80M
NOI $168,298 @ 7.0% cap · market cap 34.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Downtown property with high ceilings and an established event-center use.
Where is this mixed-use property located?
The property is located at 219 S Texas Boulevard 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: 3,192 SF mixed‑use building; Renovated façade and interior with high ceilings; Currently operates as an event center
