Modern Plaza in Prime
4000 N Westgate Drive, Weslaco, TX 78599
Commercial plaza built in 2023, suitable for retail or office.
Type:Land
Property size:
7,384 SFPrice / SF:
$243/SF- Added:
- Nov 2, 2024
- Days on Market:
- 574
- Last Refresh:
- May 12 at 9:49 pm
Property Features for 4000 N Westgate Drive
General Information
- Standard status
- Active
- Size
- 7,384 SF
- Property subtype
- Land
Building Details
- Year Built
- 2023
Listing agent Jose Mendez
Listing office SANETI Realty Group
Listing date Nov 2, 2024
Source Crexi
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 SANETI Realty Group
HighLights
- Prime location minutes from the expressway and surrounded by a vibrant business community.
- Modern construction built in 2023 with contemporary architecture.
- Currently occupied by a successful daycare with 2 years remaining on its lease.
- Versatile spaces suitable for various retail or office uses.
- High foot traffic and excellent visibility.
- Ample parking and easy access.
Overview
This commercial plaza, constructed in 2023, is situated in a prime location, offering convenient access to the expressway and proximity to a thriving business community. The property features modern architecture and versatile spaces suitable for various retail or office applications. Currently, a successful daycare occupies the property with 2 years remaining on its lease. The property is designed to attract high foot traffic and provides excellent visibility. Ample parking and easy access enhance its appeal. The property, with a size of 7384 square feet, is positioned to capitalize on the area's growing demand, making it suitable for businesses seeking to establish themselves in a bustling location with strong growth potential.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $226.8k | $30.72 |
| − Vacancy | −$62.2k | −$8.42 |
| EGI | $164.7k | $22.30 |
| − OpEx | −$41.2k | −$5.58 |
| NOI | $123.5k | $16.73 |
7,384 SF · lease $30.72/SF/yr · vacancy 27.40% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.76M
$1.54M – $2.06M
NOI $123,512 @ 7.0% cap · market cap 6.86%
Second Best
Retail
$1.42M
$1.25M – $1.66M
NOI $99,700 @ 7.0% cap · market cap 5.54%
Theoretical Best
Hotel Hospitality
$5.56M
$4.87M – $6.49M
NOI $389,321 @ 7.0% cap · market cap 21.63%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Miles of Smiles Learning ...
Daycare Center
Location Insight
- Map
- Local Demand
- City
- Weslaco
- County
- Hidalgo
- State
- Texas
- Longitude
- -98.006227
- Latitude
- 26.199821
Nearby Similar for Sale
FAQs
What type of property is this?
Shopping center - Commercial plaza built in 2023, suitable for retail or office.
Where is this shopping center located?
The property is located at 4000 N Westgate Drive Weslaco, TX.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Prime location minutes from the expressway and surrounded by a vibrant business community.; Modern construction built in 2023 with contemporary architecture.; Currently occupied by a successful daycare with 2 years remaining on its lease.
