Two-Story Retail and Office
For Sale
$2,583,000
902 S Cage Boulevard Pharr, Pharr, TX 78577
Two-story commercial building with first-floor retail space and second-floor office configuration.
Property Size9,575 SF
Price / SF$269.77
Days on Market50
Property Features for 902 S Cage Boulevard Pharr
General Information
Standard status
Active
Size
9,575 SF
Total Parking Spaces
40
Taxes and HOA fees
Annual Taxes
$28,700
Amenities
Tile
true
8000
HidalgoCAD
1.1185
40
00x00
Pole Sign
Blacktop,Handicap
Paved Road
City Street
9575
false
Building Details
Building Size
9,575 SF
Year Built
2006
Stories
1
Listing Agency:
(956) 625-0050
Listed By:
Ariana Paola Torres
(956) 625-0050
Source:
Goldenvalley-realestate
Added: Jul 10
Changed: Aug 21
Last Checked: Aug 28 at 7:09AM
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 Ariana Paola Torres
Investment Insights
Based on property information with market context.
This two-story commercial property is currently operating as a meat market/restaurant. The first floor provides retail space suited for customer-facing use, while the second floor is configured as office space for administrative or professional functions.
The property is located off S Cage Boulevard in Pharr. Public remarks also note strong visibility and functionality for businesses.
The adaptable layout supports retail activity on the lower level with office space above, offering a straightforward way to combine customer service and day-to-day operations within a single building.
The property is located off S Cage Boulevard in Pharr. Public remarks also note strong visibility and functionality for businesses.
The adaptable layout supports retail activity on the lower level with office space above, offering a straightforward way to combine customer service and day-to-day operations within a single building.
Key Highlights
- Two‑story commercial building with 8,000 SF retail space and 9,575 SF total building area
- First floor configured for meat market/restaurant retail use; second floor set up as office space
- Year built: 2006
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
$160,161
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
6.20%
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%
$3,203,220
$3.2M
Cap Rate 7%
$2,288,014
$2.3M
Cap Rate 9%
$1,779,567
$1.8M
Market Conditions
NOI Build-Up for 9,575 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
$294.1K $30.72/SF
− Vacancy
−$80.6K −$8.42/SF
EGI
$213.5K $22.30/SF
− OpEx
−$53.4K −$5.58/SF
NOI
$160.2K $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%
$3,203,220
Cap Rate 7%
$2,288,014
Cap Rate 9%
$1,779,567
Alternative Uses
Best Use
Office B
$2.29M
$2.00M – $2.67M
NOI $160,161 @ 7.0% cap · market cap 6.20%
Second Best
Retail
$1.85M
$1.62M – $2.15M
NOI $129,283 @ 7.0% cap · market cap 5.01%
Theoretical Best
Hotel Hospitality
$7.21M
$6.31M – $8.41M
NOI $504,842 @ 7.0% cap · market cap 19.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
681
Businesses Nearby
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - Two-story commercial building with first-floor retail space and second-floor office configuration.
Where is this retail space located?
The property is located at 902 S Cage Boulevard Pharr Pharr, TX.
What is the asking price?
The asking price for this property is $2,583,000.
What are key features of this property?
This property features: Two‑story commercial building with 8,000 SF retail space and 9,575 SF total building area; First floor configured for meat market/restaurant retail use; second floor set up as office space; Year built: 2006
