Corner Gas Station with
For Sale
$398,000
301 W US Highway 83, Pharr, TX 78577
Former gas station and convenience store with a restaurant building and existing fuel pumps and underground storage tanks.
Property Size1,380 SF
Price / SF$288.41
Days on Market48
Property Features for 301 W US Highway 83
General Information
Standard status
Active
Size
1,380 SF
Property subtype
Commercial
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$7,576
Building Details
Building Size
1,380 SF
Year Built
1992
Listing Agency:
BIG Realty
(956) 465-0011
Listed By:
Jorge L. Zambrano
Source:
Primeluxuryrealestate
Added: Jul 14
Changed: Aug 24
Last Checked: Aug 29 at 2:19PM
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 BIG Realty
Investment Insights
Based on property information with market context.
This former gas station and convenience store includes an approximately 1,380 SF commercial building currently associated with a restaurant use. On-site fueling infrastructure remains, including existing fuel pumps and underground storage tanks. The seller states the tanks were inspected and tested in 2018 with satisfactory results, and documentation is available upon request. Site improvements include substantial concrete and asphalt paving, along with canopy structures, and an additional garage/storage area.
The property is situated on a high-visibility corner with frontage on Business 83 and S. 6th St.
Also included are canopy areas totaling approximately 744 SF and 336 SF, plus a garage/storage area of approximately 384 SF. Additional hardscape consists of approximately 4,330 SF of concrete and approximately 2,010 SF of asphalt.
The property is situated on a high-visibility corner with frontage on Business 83 and S. 6th St.
Also included are canopy areas totaling approximately 744 SF and 336 SF, plus a garage/storage area of approximately 384 SF. Additional hardscape consists of approximately 4,330 SF of concrete and approximately 2,010 SF of asphalt.
Key Highlights
- Former gas station/convenience store with restaurant, set in a 1,380 SF commercial building built in 1992
- High‑visibility corner frontage on Business 83 and S. 6th St
- Includes existing fuel pumps and underground storage tanks on‑site
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
$20,028
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
5.03%
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%
$400,560
$400.6K
Cap Rate 7%
$286,114
$286.1K
Cap Rate 9%
$222,533
$222.5K
Market Conditions
NOI Build-Up for 1,380 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
$28.3K $20.52/SF
− Vacancy
−$1.6K −$1.17/SF
EGI
$26.7K $19.35/SF
− OpEx
−$6.7K −$4.84/SF
NOI
$20.0K $14.51/SF
Area
Hidalgo County, TX
Vacancy
5.70%
Lease Rate
$20.52 /SF/Yr
Expense Ratio
25.00%
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%
$400,560
Cap Rate 7%
$286,114
Cap Rate 9%
$222,533
Alternative Uses
Best Use
Specialty Retail
$286.1K
$250.4K – $333.8K
NOI $20,028 @ 7.0% cap · market cap 5.03%
Second Best
Retail
$266.2K
$232.9K – $310.6K
NOI $18,633 @ 7.0% cap · market cap 4.68%
Theoretical Best
Hotel Hospitality
$1.04M
$909.5K – $1.21M
NOI $72,761 @ 7.0% cap · market cap 18.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
847
Businesses Nearby
91k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 40%
Dining 32%
Groceries 16%
Apparel 9%
La Michoacana Meat Market
Groceries
14,384 visits/mo
0.5 miles
Church's Chicken
Dining
10,971 visits/mo
0.1 miles
Family Dollar
Shops & Services
8,947 visits/mo
0.5 miles
Melrose
Apparel
8,524 visits/mo
0.5 miles
Shipley Do-Nuts
Dining
5,536 visits/mo
0.5 miles
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
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Gas station - Former gas station and convenience store with a restaurant building and existing fuel pumps and underground storage tanks.
Where is this gas station located?
The property is located at 301 W US Highway 83 Pharr, TX.
What is the asking price?
The asking price for this property is $398,000.
What are key features of this property?
This property features: Former gas station/convenience store with restaurant, set in a 1,380 SF commercial building built in 1992; High‑visibility corner frontage on Business 83 and S. 6th St; Includes existing fuel pumps and underground storage tanks on‑site
