Multi-Building Income
For Sale
$950,000
3724 BOCA CHICA BLVD., Brownsville, TX 78521
Five commercial buildings with five retail spaces and seven 2-bedroom apartments generating income.
Property Size8,200 SF
Price / SF$115.85
Days on Market1006
Property Features for 3724 BOCA CHICA BLVD.
General Information
Standard status
Active
Size
8,200 SF
Property subtype
General Commercial
Additional Details
Multifamily Units
7
Amenities
3
Building Details
Year Built
1970
Stories
1
Listing Agency:
Rio Realty
(956) 312-8562
Listed By:
Dalia Hernandez
(956) 243-3566
Source:
Xome
Added: Dec 6, 2023
Changed: Sep 1
Last Checked: Sep 7 at 5:24AM
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 Rio Realty
Investment Insights
Based on property information with market context.
This for-sale income portfolio consists of five commercial buildings with both retail and apartment units. The property includes five commercial spaces and seven 2-bedroom apartments, with rents stated as 1,100 for the commercial spaces and 500 for the apartments.
The buildings are located on Boca Chica Blvd. in Brownsville, in an area described as high commercial traffic.
The offering combines storefront/retail space and residential income units within the same multi-building package.
The buildings are located on Boca Chica Blvd. in Brownsville, in an area described as high commercial traffic.
The offering combines storefront/retail space and residential income units within the same multi-building package.
Key Highlights
- Five commercial buildings with five retail spaces plus seven 2‑bedroom apartments
- Commercial spaces rent listed at $1,100 each; apartments rent listed at $500 each
- Total of 16 parking spaces with a paved driveway
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
$78,027
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
8.21%
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%
$1,560,540
$1.6M
Cap Rate 7%
$1,114,671
$1.1M
Cap Rate 9%
$866,967
$867.0K
Market Conditions
NOI Build-Up for 8,200 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
$118.1K $14.40/SF
− Vacancy
−$6.6K −$0.81/SF
EGI
$111.5K $13.59/SF
− OpEx
−$33.4K −$4.08/SF
NOI
$78.0K $9.52/SF
Area
Brownsville, TX
Vacancy
5.60%
Lease Rate
$14.40 /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%
$1,560,540
Cap Rate 7%
$1,114,671
Cap Rate 9%
$866,967
Alternative Uses
Best Use
Retail
$1.11M
$975.3K – $1.30M
NOI $78,027 @ 7.0% cap · market cap 8.21%
Second Best
Apartment 5plus
$886.3K
$775.5K – $1.03M
NOI $62,041 @ 7.0% cap · market cap 6.53%
Theoretical Best
Healthcare Medical
$1.41M
$1.24M – $1.65M
NOI $98,833 @ 7.0% cap · market cap 10.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
7
Residential units
Location Intelligence
Trade Area within ½ mile
663
Businesses Nearby
Explore this area
Business Placement
Demographics for 78521, TX
88,708
Population
29,576
Households
3
Avg Household Size
32
Median Age
15%
College-Educated
62%
High-School Grad
93.7 sq mi
ZIP Area
947
Density / Sq Mi
$41,276
Median Household Income
$24,781
Median Earnings
$864
Median Rent
$90,500
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?
Apartment building - Five commercial buildings with five retail spaces and seven 2-bedroom apartments generating income.
Where is this apartment building located?
The property is located at 3724 BOCA CHICA BLVD. Brownsville, TX.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Five commercial buildings with five retail spaces plus seven 2‑bedroom apartments; Commercial spaces rent listed at $1,100 each; apartments rent listed at $500 each; Total of 16 parking spaces with a paved driveway
