Versatile Commercial Property For
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619 S Veterans Boulevard, Pharr, TX 78577
Commercial property with high visibility and versatile business potential.
Property Size1,440 SF
Price / SF$451.39
Days on Market926
Property Features for 619 S Veterans Boulevard
General Information
Standard status
Active
Size
1,440 SF
Total Parking Spaces
12
Property subtype
Land
Building Details
Year Built
2019
Listing Agency:
Encore Fine Properties
Listed By:
Perla Castillo
Source:
Crexi
Added: Feb 10, 2024
Changed: Aug 8
Last Checked: Aug 23 at 4:24AM
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 Encore Fine Properties
Investment Insights
Based on property information with market context.
This commercial property has served the community for 35 years and is located 500 feet south of Business 83, next to a daycare center, across the street from a drive-thru service, and down the street from a high school. The recently built building is ready for immediate business in the Sno-Cone, snacks, and food industry, and includes a POS system, security cameras, workstations, shelving, and a restaurant-style cooking station. The property has a loyal customer base and a solid reputation for quality service. The building offers possibilities for various business ventures and can be converted into a medical office, retail space, or other office space. The property has ample parking space and attractive curb appeal, with rear and side parking and an enter and exit drive-thru around the building. The property size is 1440 square feet.
Key Highlights
- Prime location with high visibility near Business 83, a daycare, a drive‑thru service, and a high school.
- Recently built (2019) building ready for immediate use in the food service industry.
- Includes POS system, security cameras, workstations, shelving, and a restaurant‑style cooking station.
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
$24,087
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
3.71%
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%
$481,740
$481.7K
Cap Rate 7%
$344,100
$344.1K
Cap Rate 9%
$267,633
$267.6K
Market Conditions
NOI Build-Up for 1,440 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
$44.2K $30.72/SF
− Vacancy
−$12.1K −$8.42/SF
EGI
$32.1K $22.30/SF
− OpEx
−$8.0K −$5.58/SF
NOI
$24.1K $16.73/SF
Area
Hidalgo County, TX
Vacancy
27.40%
Lease Rate
$30.72 /SF/Yr
Expense Ratio
25.00%
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%
$481,740
Cap Rate 7%
$344,100
Cap Rate 9%
$267,633
Alternative Uses
Best Use
Office B
$344.1K
$301.1K – $401.5K
NOI $24,087 @ 7.0% cap · market cap 3.71%
Second Best
Specialty Retail
$298.5K
$261.2K – $348.3K
NOI $20,898 @ 7.0% cap · market cap 3.22%
Theoretical Best
Hotel Hospitality
$1.08M
$949.1K – $1.27M
NOI $75,924 @ 7.0% cap · market cap 11.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
678
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 78577, TX
79,937
Population
26,568
Households
3
Avg Household Size
30
Median Age
18%
College-Educated
70%
High-School Grad
26.0 sq mi
ZIP Area
3,075
Density / Sq Mi
$49,768
Median Household Income
$28,186
Median Earnings
$988
Median Rent
$111,500
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Commercial property with high visibility and versatile business potential.
Where is this storefront property located?
The property is located at 619 S Veterans Boulevard Pharr, TX.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Prime location with high visibility near Business 83, a daycare, a drive‑thru service, and a high school.; Recently built (2019) building ready for immediate use in the food service industry.; Includes POS system, security cameras, workstations, shelving, and a restaurant‑style cooking station.
