Office Building with Five
506 W University Drive, Edinburg, TX 78539
For Sale
$995,000
Commercial Sale, Edinburg, TX
Property Size3,966 SF
Lot Size0.33 Acres
Price / SF$250.88
Days on Market157
Property Features for 506 W University Drive
General Information
Property type
Property subtype
Parking
Appliances
Subdivision
Directions
Standard status
APN
Size
Lot size
Additional Details
Property Use
Taxes and HOA fees
Tax Year
Tax Annual Amount
Utilities
Heating system
Cooling system
Building Details
Year built
Floors in Building
Building materials
Roof type
Listing Agency:
Keller Williams Realty RGV
(956) 928-1155
Listed By:
Jaime Lee Gonzalez · License TX #713189
(956) 599-8400
Added: Jun 8
Changed: Oct 26
Last Checked: Nov 11 at 1:06AM
MLS# 492811
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.
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Investment Insights
Based on property information with market context.
Constructed in 1986, this 3,966-square-foot office building sits on 0.326 acres and provides a practical layout for professional use. The interior includes an open workspace, reception area, kitchen, five private offices, and a utility room. Brick and stucco construction, a flat roof, and zoned electric heating and cooling complete the physical profile.
The property is located at 506 W University Drive in Edinburg, with exposure along West University Drive. It is near the Hidalgo County Courthouse and UTRGV, and the parking lot is accessible from the alley. The site is within the 78539 postal area of Hidalgo County.
The property is located at 506 W University Drive in Edinburg, with exposure along West University Drive. It is near the Hidalgo County Courthouse and UTRGV, and the parking lot is accessible from the alley. The site is within the 78539 postal area of Hidalgo County.
Key Highlights
- 3,966 SF office building on 0.326 acres
- Five office spaces plus reception, open workspace, kitchen, and utility room
- Located at 506 W University Drive, Edinburg, TX 78539
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
$198,300
Median Home Value
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Market
Average Price Trend$/SF for Office buildings in Hidalgo County, TX
Properties on Market for Office buildings in Hidalgo County
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - Functional professional office property with reception, open workspace, kitchen area, and alley access to on-site parking.
Where is this office building located?
The property is located at 506 W University Drive 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 SF office building on 0.326 acres; Five office spaces plus reception, open workspace, kitchen, and utility room; Located at 506 W University Drive, Edinburg, TX 78539
