Multifamily Property with Additional
For Sale
$1,280,000
2900 S Cage Boulevard, Pharr, TX 78577
Five-unit income property on about 1.77 acres with land behind a commercial plaza.
Property Size1,070 SF
Lot Size1.77 Acres
Price / SF$175.34
Days on Market117
Property Features for 2900 S Cage Boulevard
General Information
Standard status
Active
Size
1,070 SF
Lot size
1.77 Acres
Property subtype
Commercial
Additional Details
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$22,876
Building Details
Building Size
1,070 SF
Year Built
2008
Tenancy
Multi
Listing Agency:
Encore Fine Properties
Listed By:
Israel Silva
Source:
Primeluxuryrealestate
Added: Jun 20
Changed: Oct 1
Last Checked: Oct 13 at 2:30AM
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 Encore Fine Properties
Investment Insights
Based on property information with market context.
This for-sale multifamily property features five units totaling approximately 7,300 square feet. The offering is presented as an income-producing residential investment.
The site includes approximately 1.77 acres, with additional land indicated behind a commercial plaza. This configuration may support future multifamily development or expansion using the available acreage.
With five income-producing units already in place, the property can fit buyers seeking a small multifamily asset and the flexibility to consider development potential on the land described behind the commercial plaza. Please review the property details and layout during due diligence for site planning and tenant use requirements.
The site includes approximately 1.77 acres, with additional land indicated behind a commercial plaza. This configuration may support future multifamily development or expansion using the available acreage.
With five income-producing units already in place, the property can fit buyers seeking a small multifamily asset and the flexibility to consider development potential on the land described behind the commercial plaza. Please review the property details and layout during due diligence for site planning and tenant use requirements.
Key Highlights
- Income‑producing property built in 2008
- 5‑unit income property on about 1.77 acres
- Approximately 7,300 SF total building area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$58,776
Cap Rate
4.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,175,520
$1.2M
Cap Rate 7%
$839,657
$839.7K
Cap Rate 9%
$653,067
$653.1K
Market Conditions
NOI Build-Up for 7,300 SF
Gross rent
$120.9K $16.56/SF
− Vacancy
−$14.0K −$1.92/SF
EGI
$106.9K $14.64/SF
− OpEx
−$48.1K −$6.59/SF
NOI
$58.8K $8.05/SF
Area
Hidalgo County, TX
Vacancy
11.60%
Lease Rate
$16.56 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,175,520
Cap Rate 7%
$839,657
Cap Rate 9%
$653,067
Alternative Uses
Best Use
Apartment 5plus
$839.7K
$734.7K – $979.6K
NOI $58,776 @ 7.0% cap · market cap 4.59%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$5.50M
$4.81M – $6.41M
NOI $384,893 @ 7.0% cap · market cap 30.07%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
152
Businesses Nearby
Explore this area
Business Placement
Demographics for 78577, TX
79,937
Population
26,568
Households
3
Avg Household Size
30
Median Age
18%
College-Educated
70%
High-School Grad
26.0 sq mi
ZIP Area
3,075
Density / Sq Mi
$49,768
Median Household Income
$28,186
Median Earnings
$988
Median Rent
$111,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - Five-unit income property on about 1.77 acres with land behind a commercial plaza.
Where is this apartment building located?
The property is located at 2900 S Cage Boulevard Pharr, TX.
What is the asking price?
The asking price for this property is $1,280,000.
What are key features of this property?
This property features: Income‑producing property built in 2008; 5‑unit income property on about 1.77 acres; Approximately 7,300 SF total building area
