Mixed-Use Property with Excess
New
For Sale
$1,400,000
2602 North Texas Boulevard, Weslaco, TX 78599
Signalized commercial-corridor site with existing commercial and residential improvements plus flexible B-2 zoning.
Property Size9,035 SF
Days on Market5
Property Features for 2602 North Texas Boulevard
General Information
Standard status
Active
Size
9,035 SF
Property subtype
Other
Building Details
Building Size
9,035 SF
Year Built
1983
Listing Agency:
SVN | Hanna Solutions Commercial Real Estate
Listed By:
Mark Hanna, CCIM
(956) 322-4001
Source:
Commercialcafe
Added: Sep 5
Last Checked: Sep 8 at 4:16AM
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 SVN | Hanna Solutions Commercial Real Estate
Investment Insights
Based on property information with market context.
This mixed-use property occupies 2.31 acres at the signalized intersection of N. Texas Boulevard and Sugarcane Road in Weslaco. Existing improvements include a 6,420-square-foot commercial building and a 2,615-square-foot residential structure, creating a combination of business and residential space on one site. The property was built in 1983 and is zoned B-2, with permitted uses under both B-1 and B-2 classifications.
Located at 2602 North Texas Boulevard, the site is less than one mile from Interstate 2, also identified as US Expressway 83. Its position along a primary commercial corridor provides access to traffic serving north Weslaco and south Elsa. Nearby national retailers include Walmart, Academy, JCPenney, and Dollar Tree. In addition to the existing buildings, the property includes excess land that may support a separate pad-site disposition or future redevelopment, subject to applicable approvals.
Located at 2602 North Texas Boulevard, the site is less than one mile from Interstate 2, also identified as US Expressway 83. Its position along a primary commercial corridor provides access to traffic serving north Weslaco and south Elsa. Nearby national retailers include Walmart, Academy, JCPenney, and Dollar Tree. In addition to the existing buildings, the property includes excess land that may support a separate pad-site disposition or future redevelopment, subject to applicable approvals.
Key Highlights
- 2.31‑acre mixed‑use property at 2602 North Texas Boulevard, Weslaco, TX 78599
- 6,420 SF commercial building plus 2,615 SF residential structure
- Signalized corner of N. Texas Boulevard and Sugarcane Road
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
$91,479
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
6.53%
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%
$1,829,580
$1.8M
Cap Rate 7%
$1,306,843
$1.3M
Cap Rate 9%
$1,016,433
$1.0M
Market Conditions
NOI Build-Up for 9,035 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
$162.6K $18.00/SF
− Vacancy
−$16.3K −$1.80/SF
EGI
$146.4K $16.20/SF
− OpEx
−$54.9K −$6.07/SF
NOI
$91.5K $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%
$1,829,580
Cap Rate 7%
$1,306,843
Cap Rate 9%
$1,016,433
Alternative Uses
Best Use
Mixed Use
$1.31M
$1.14M – $1.52M
NOI $91,479 @ 7.0% cap · market cap 6.53%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$6.81M
$5.95M – $7.94M
NOI $476,370 @ 7.0% cap · market cap 34.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
180
Businesses Nearby
Explore this area
Business Placement
Demographics for 78599, TX
32,500
Population
9,945
Households
3.3
Avg Household Size
29
Median Age
16%
College-Educated
67%
High-School Grad
26.5 sq mi
ZIP Area
1,226
Density / Sq Mi
$55,939
Median Household Income
$27,841
Median Earnings
$954
Median Rent
$113,300
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Signalized commercial-corridor site with existing commercial and residential improvements plus flexible B-2 zoning.
Where is this mixed-use property located?
The property is located at 2602 North Texas Boulevard Weslaco, TX.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: 2.31‑acre mixed‑use property at 2602 North Texas Boulevard, Weslaco, TX 78599; 6,420 SF commercial building plus 2,615 SF residential structure; Signalized corner of N. Texas Boulevard and Sugarcane Road
