Office Building with Open
For Sale
$995,000
506 W University Dr, Edinburg, TX 78539
Office property with reception, five office spaces, a kitchen area, utility room, and alley access to the parking lot.
Property Size3,966 SF
Price / SF$250.88
Days on Market48
Property Features for 506 W University Dr
General Information
Standard status
Active
Size
3,966 SF
Amenities
open workspace
kitchen area
utility room
reception area
Building Details
Year Built
1986
Listing Agency:
Keller Williams Realty RGV
Listed By:
Jaime Lee Gonzalez · License #713189
(956) 599-8400
Source:
Aregtx
Added: Sep 14
Changed: Oct 25
Last Checked: Oct 7 at 3:19PM
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 Keller Williams Realty RGV
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Investment Insights
Based on property information with market context.
This 3,966-square-foot office building, constructed in 1986, provides a practical layout for professional use. Interior areas include open workspace, a reception area, five office spaces, a kitchen area, and a utility room.
The property is located at 506 W University Dr in Edinburg, along West University Drive. Its setting is near the Hidalgo County Courthouse and UTRGV, with access to the parking lot from the alley.
The property is located at 506 W University Dr in Edinburg, along West University Drive. Its setting is near the Hidalgo County Courthouse and UTRGV, with access to the parking lot from the alley.
Key Highlights
- 3,966 square feet of office space
- Five office spaces plus open workspace
- Reception area, kitchen area, and utility room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$56,789
Cap Rate
5.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,135,780
$1.1M
Cap Rate 7%
$811,271
$811.3K
Cap Rate 9%
$630,989
$631.0K
Market Conditions
NOI Build-Up for 3,966 SF
Gross rent
$88.0K $22.20/SF
− Vacancy
−$12.3K −$3.11/SF
EGI
$75.7K $19.09/SF
− OpEx
−$18.9K −$4.77/SF
NOI
$56.8K $14.32/SF
Area
Edinburg, TX
Vacancy
14.00%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,135,780
Cap Rate 7%
$811,271
Cap Rate 9%
$630,989
Alternative Uses
Best Use
Office B
$811.3K
$709.9K – $946.5K
NOI $56,789 @ 7.0% cap · market cap 5.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.03M
$900.4K – $1.20M
NOI $72,035 @ 7.0% cap · market cap 7.24%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,237
Businesses Nearby
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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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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - Office property with reception, five office spaces, a kitchen area, utility room, and alley access to the parking lot.
Where is this office building located?
The property is located at 506 W University Dr Edinburg, TX.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: 3,966 square feet of office space; Five office spaces plus open workspace; Reception area, kitchen area, and utility room
