Strip Mall with
For Sale
$825,000
506 S Closner Boulevard, Edinburg, TX 78539
COMMERCIAL - Edinburg, TX
Property Size6,000 SF
Lot Size0.09 Acres
Price / SF$137.50
Days on Market355
Property Features for 506 S Closner Boulevard
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C
Parking
135
Parking features
On Street, Off Street
Exterior features
Balcony
Accessibility
Accessible Approach with Ramp
Appliances
Electric Water Heater, Water Heater (Programmable thermostat)
Subdivision
Alhambra Plaza Condos
Lot features
Downtown, Medical Complex, Office Complex
Directions
Just south of Hidalgo County Courthouse on Closner.
Standard status
Active
APN
A26630000000A300
Size
6,000 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
9300
HOA Fee
$450 Monthly
Utilities
Heating system
Central, Electric (Heating)
Cooling system
Electric, Central Air
Building Details
Year built
2002
Floors in Building
2
Building materials
Stucco
Roof type
Flat
Listing Agency:
Signature Properties
(956) 630-3100
Listed By:
J.c. Lowe
(956) 821-0547
Added: Sep 4, 2025
Changed: Aug 13
Last Checked: Aug 24 at 11:06AM
MLS# 480039
Copyright © 2026 Greater McAllen Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This strip mall at 506 S Closner Boulevard offers a compact commercial setup on a 0.09-acre lot, with an overall property size of 6,000 square feet. The exterior includes stucco construction and a flat roof, and the building features a balcony. Heating is electric with central systems, and cooling is provided via central air and electric equipment. Unit amenities include an electric water heater and a programmable thermostat water heater.
The property includes on-street and off-street parking and an accessible approach with a ramp. It was built in 2002 and is zoned C. The location is described as being near the brand-new Hidalgo County courthouse, and the portfolio is available all or part, with units stated as upgraded multiple times.
Electric and central HVAC systems support tenant comfort across the space.
The property includes on-street and off-street parking and an accessible approach with a ramp. It was built in 2002 and is zoned C. The location is described as being near the brand-new Hidalgo County courthouse, and the portfolio is available all or part, with units stated as upgraded multiple times.
Electric and central HVAC systems support tenant comfort across the space.
Key Highlights
- 0.09‑acre lot with 6,000 square feet in a strip mall setting
- Zoned C
- Built in 2002 with stucco construction and flat roof
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
$66,868
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
8.11%
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%
$1,337,360
$1.3M
Cap Rate 7%
$955,257
$955.3K
Cap Rate 9%
$742,978
$743.0K
Market Conditions
NOI Build-Up for 6,000 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
$104.4K $17.40/SF
− Vacancy
−$8.9K −$1.48/SF
EGI
$95.5K $15.92/SF
− OpEx
−$28.7K −$4.78/SF
NOI
$66.9K $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 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%
$1,337,360
Cap Rate 7%
$955,257
Cap Rate 9%
$742,978
Alternative Uses
Best Use
Retail
$955.3K
$835.9K – $1.11M
NOI $66,868 @ 7.0% cap · market cap 8.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.56M
$1.36M – $1.82M
NOI $108,979 @ 7.0% cap · market cap 13.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,210
Businesses Nearby
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
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Strip mall - Small strip mall on 0.09 acres zoned C, built in 2002, with central air, electric heating, and accessible ramp access.
Where is this strip mall located?
The property is located at 506 S Closner Boulevard Edinburg, TX.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: 0.09‑acre lot with 6,000 square feet in a strip mall setting; Zoned C; Built in 2002 with stucco construction and flat roof
