Flex Space with Detached
507 E Interstate 2 Pharr, TX 78577
New
507 E Interstate 2, Pharr, TX, 78577
$1,290,000
For Sale
$1,290,000
Gutted main building with former office buildout plus a detached warehouse and 20+ parking spaces on a 1-acre site.
Property Size4,500 SF
Lot Size1.00 Acre
Price / SF$286.67
Days on Market2
Property Features for 507 E Interstate 2
General Information
- Standard status
- Active
- Size
- 4,500 SF
- Lot size
- 1.00 Acre
- Property subtype
- Commercial
Building Details
- Year Built
- 1985
Listing agency
RE/MAX Platinum
(956) 668-8555
Listed by
Jonathan Lindley · License #542810
Source
Primeluxuryrealestate
Added: Jul 20 Updated: Jul 21 at 9:00AM Checked: Jul 21 at 9:00AM
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 RE/MAX Platinum
Investment Insights
Based on property information with market context.
This for-sale flex property includes a main building of approximately 4,500+ square feet that has been fully gutted to the studs for a custom buildout. The property previously operated as an insurance office and was laid out with approximately 15 offices, a conference/boardroom, and restrooms, providing a starting point for office-focused or suite-style reconfiguration. A detached 1,200 square foot warehouse is also on site for storage or operations, along with 20+ existing parking spaces and additional land that may support future expansion.
The site is located along the frontage road of Interstate 2 and is described as just minutes from the I-2 & I-69C interchange, supporting convenient access for business traffic.
With a blank-slate interior and both office and warehouse improvements, the property can be adapted for professional office use, medical, or multi-tenant suite configurations based on the buyer’s plans.
The site is located along the frontage road of Interstate 2 and is described as just minutes from the I-2 & I-69C interchange, supporting convenient access for business traffic.
With a blank-slate interior and both office and warehouse improvements, the property can be adapted for professional office use, medical, or multi-tenant suite configurations based on the buyer’s plans.
Key Highlights
- 1‑acre commercial property in Pharr with 4,500+ SF main building and a detached 1,200 SF warehouse
- Main building is fully gutted to the studs and ready for a custom buildout
- Former office setup included approx. 15 offices, conference/boardroom, and restrooms
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 | $138.2k | $30.72 |
| − Vacancy | −$37.9k | −$8.42 |
| EGI | $100.4k | $22.30 |
| − OpEx | −$25.1k | −$5.58 |
| NOI | $75.3k | $16.73 |
4,500 SF · lease $30.72/SF/yr · vacancy 27.40% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.08M
$940.9K – $1.25M
NOI $75,272 @ 7.0% cap · market cap 5.84%
Second Best
Warehouse
$410.8K
$359.4K – $479.2K
NOI $28,754 @ 7.0% cap · market cap 2.23%
Theoretical Best
Hotel Hospitality
$3.39M
$2.97M – $3.95M
NOI $237,263 @ 7.0% cap · market cap 18.39%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Flex space
Similar For Sale Nearby
Similar Off Market Nearby
- Sispresso — 107 E Ferguson Ave Suite B, Pharr, TX 78577
FAQs
What type of property is this?
Flex space - Gutted main building with former office buildout plus a detached warehouse and 20+ parking spaces on a 1-acre site.
Where is this flex space located?
The property is located at 507 E Interstate 2 Pharr, TX.
What is the asking price?
The asking price for this property is $1,290,000.
What are key features of this property?
This property features: 1‑acre commercial property in Pharr with 4,500+ SF main building and a detached 1,200 SF warehouse; Main building is fully gutted to the studs and ready for a custom buildout; Former office setup included approx. 15 offices, conference/boardroom, and restrooms
