Commercial Land with Existing
New
For Sale
$400,000
3117 E Pike Boulevard, Weslaco, TX 78599
Redevelopment site with an older office structure, storage areas, paved surfaces, and concrete pads.
Property Size1,148 SF
Price / SF$348.43
Days on Market2
Property Features for 3117 E Pike Boulevard
General Information
Standard status
Active
Size
1,148 SF
Building Details
Year Built
1983
Listing Agency:
JPAR North Metro
Listed By:
Mark S. Wells · License #523858
(956) 789-0812
Source:
Aregtx
Added: Sep 1
Last Checked: Sep 1 at 9:22PM
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 JPAR North Metro
Investment Insights
Based on property information with market context.
This 0.92-acre commercial land parcel includes an older office building, storage areas, asphalt, and concrete pads. The existing improvements can support interim use while the property is repositioned for redevelopment. The office structure was built in 1983.
The site is located on Pike Blvd just north of FM 1015, between the expressway and established retail activity. Sam’s Club is under construction immediately north of the property, adding a significant commercial development to the immediate setting. County zoning is identified as flexible, and the property is positioned along a corridor described as connecting Expressway 83 with retail and international traffic.
The site is located on Pike Blvd just north of FM 1015, between the expressway and established retail activity. Sam’s Club is under construction immediately north of the property, adding a significant commercial development to the immediate setting. County zoning is identified as flexible, and the property is positioned along a corridor described as connecting Expressway 83 with retail and international traffic.
Key Highlights
- 0.92‑acre commercial land parcel
- Existing office building, storage areas, asphalt, and concrete pads
- Built in 1983
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
$19,203
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
4.80%
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%
$384,060
$384.1K
Cap Rate 7%
$274,329
$274.3K
Cap Rate 9%
$213,367
$213.4K
Market Conditions
NOI Build-Up for 1,148 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
$35.3K $30.72/SF
− Vacancy
−$9.7K −$8.42/SF
EGI
$25.6K $22.30/SF
− OpEx
−$6.4K −$5.58/SF
NOI
$19.2K $16.73/SF
Area
Hidalgo County, TX
Vacancy
27.40%
Lease Rate
$30.72 /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%
$384,060
Cap Rate 7%
$274,329
Cap Rate 9%
$213,367
Alternative Uses
Best Use
Office B
$274.3K
$240.0K – $320.1K
NOI $19,203 @ 7.0% cap · market cap 4.80%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$864.7K
$756.6K – $1.01M
NOI $60,528 @ 7.0% cap · market cap 15.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
208
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - Redevelopment site with an older office structure, storage areas, paved surfaces, and concrete pads.
Where is this commercial land located?
The property is located at 3117 E Pike Boulevard Weslaco, TX.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: 0.92‑acre commercial land parcel; Existing office building, storage areas, asphalt, and concrete pads; Built in 1983
