Downstairs Retail
For Sale
$299,000
506 Closner Boulevard, Edinburg, TX 78539
Downstairs unit within a multi-tenant retail complex, currently operating on a month-to-month lease.
Property Size2,000 SF
Price / SF$149.50
Days on Market114
Property Features for 506 Closner Boulevard
General Information
Standard status
Active
Size
2,000 SF
Building Details
Year Built
2002
Listing Agency:
Signature Properties
Listed By:
J.C. Lowe
(956) 451-6949
Source:
Aregtx
Added: Jun 23
Changed: Oct 14
Last Checked: Oct 7 at 3:40PM
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 Signature Properties
Investment Insights
Based on property information with market context.
This offering is for the downstairs retail unit within a complex that contains three total units. The two remaining units are located on the second floor, creating a two-level retail arrangement. The unit is currently leased on a month-to-month basis.
The property is located at 506 S Closner Blvd in Edinburg, Texas. As part of a small, multi-unit complex, the space is positioned to serve retail operations that benefit from direct street-level access associated with ground-floor tenancy.
For buyers or tenant-users, the month-to-month lease provides flexibility around timing and occupancy planning. This unit configuration can also fit brands or operators looking for a dedicated storefront within a compact building that separates ground-floor and second-floor uses across three tenants.
The property is located at 506 S Closner Blvd in Edinburg, Texas. As part of a small, multi-unit complex, the space is positioned to serve retail operations that benefit from direct street-level access associated with ground-floor tenancy.
For buyers or tenant-users, the month-to-month lease provides flexibility around timing and occupancy planning. This unit configuration can also fit brands or operators looking for a dedicated storefront within a compact building that separates ground-floor and second-floor uses across three tenants.
Key Highlights
- Downstairs unit within a multi‑tenant retail complex
- Complex has 3 total units: 1 downstairs unit and 2 second‑floor units
- Unit is currently on a month‑to‑month lease
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,289
Cap Rate
7.45%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$445,780
$445.8K
Cap Rate 7%
$318,414
$318.4K
Cap Rate 9%
$247,656
$247.7K
Market Conditions
NOI Build-Up for 2,000 SF
Gross rent
$34.8K $17.40/SF
− Vacancy
−$3.0K −$1.48/SF
EGI
$31.8K $15.92/SF
− OpEx
−$9.6K −$4.78/SF
NOI
$22.3K $11.14/SF
Area
Edinburg, TX
Vacancy
8.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$445,780
Cap Rate 7%
$318,414
Cap Rate 9%
$247,656
Alternative Uses
Best Use
Retail
$318.4K
$278.6K – $371.5K
NOI $22,289 @ 7.0% cap · market cap 7.45%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$518.9K
$454.1K – $605.4K
NOI $36,326 @ 7.0% cap · market cap 12.15%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Location Intelligence
Trade Area within ½ mile
1,210
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 78539, TX
37,686
Population
15,759
Households
2.4
Avg Household Size
34
Median Age
37%
College-Educated
84%
High-School Grad
12.2 sq mi
ZIP Area
3,089
Density / Sq Mi
$64,864
Median Household Income
$38,413
Median Earnings
$1,034
Median Rent
$198,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Storefront property - Downstairs unit within a multi-tenant retail complex, currently operating on a month-to-month lease.
Where is this storefront property located?
The property is located at 506 Closner Boulevard Edinburg, TX.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Downstairs unit within a multi‑tenant retail complex; Complex has 3 total units: 1 downstairs unit and 2 second‑floor units; Unit is currently on a month‑to‑month lease
