Four-Unit
For Sale
Contact for pricing
3603 Sheraton Avenue, Pharr, TX 78577
Updated residences feature open layouts, covered parking, and gated pedestrian access near shopping, dining, and major roadways.
Property Size3,732 SF
Price / SF$101.82
Days on Market126
Property Features for 3603 Sheraton Avenue
General Information
Standard status
Active
Size
3,732 SF
Total Parking Spaces
8
Property subtype
Multifamily
Building Details
Year Built
2007
Buildings
2
Units
4
Listing Agency:
RE/MAX elite
(956) 330-3674
Listed By:
Elizabeth Gomez · License #772669
Source:
Crexi
Added: Apr 27
Changed: Aug 29
Last Checked: Aug 29 at 2:32PM
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 RE/MAX elite
Investment Insights
Based on property information with market context.
Built in 2007, this 3,732-square-foot quadplex contains four residences, each arranged with two bedrooms and two bathrooms. The interiors offer open-concept living areas, tile flooring, wood cabinetry, stainless steel appliances, and contemporary finishes. Energy-efficient features and abundant natural light further support the unit layouts.
The property includes covered parking and a gated walkway serving the residences. Located at 3603 Sheraton Avenue in Pharr, the property is near shopping, dining, and major roadways, with Jackson also identified in the surrounding location context.
The property includes covered parking and a gated walkway serving the residences. Located at 3603 Sheraton Avenue in Pharr, the property is near shopping, dining, and major roadways, with Jackson also identified in the surrounding location context.
Key Highlights
- Four units, each with 2 bedrooms and 2 bathrooms
- 3,732 SF quadplex built in 2007
- Open‑concept interiors with tile flooring and wood cabinetry
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
$32,636
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
8.59%
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%
$652,720
$652.7K
Cap Rate 7%
$466,229
$466.2K
Cap Rate 9%
$362,622
$362.6K
Market Conditions
NOI Build-Up for 3,732 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
$52.4K $14.04/SF
− Vacancy
−$5.8K −$1.55/SF
EGI
$46.6K $12.49/SF
− OpEx
−$14.0K −$3.75/SF
NOI
$32.6K $8.74/SF
Area
Hidalgo County, TX
Vacancy
11.02%
Lease Rate
$14.04 /SF/Yr
Expense Ratio
30.00%
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%
$652,720
Cap Rate 7%
$466,229
Cap Rate 9%
$362,622
Alternative Uses
Best Use
Multifamily LT 5
$466.2K
$408.0K – $543.9K
NOI $32,636 @ 7.0% cap · market cap 8.59%
Second Best
Apartment 5plus
$429.3K
$375.6K – $500.8K
NOI $30,048 @ 7.0% cap · market cap 7.91%
Theoretical Best
Hotel Hospitality
$2.81M
$2.46M – $3.28M
NOI $196,770 @ 7.0% cap · market cap 51.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
118
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Updated residences feature open layouts, covered parking, and gated pedestrian access near shopping, dining, and major roadways.
Where is this quadplex located?
The property is located at 3603 Sheraton Avenue Pharr, TX.
What is the asking price?
The asking price for this property is $380,000.
What are key features of this property?
This property features: Four units, each with 2 bedrooms and 2 bathrooms; 3,732 SF quadplex built in 2007; Open‑concept interiors with tile flooring and wood cabinetry
