1617 Polk AvePharr, TX 78577

Property Details for 1617 Polk Ave

Year built

2018

Lot size

2.79 AC

Property size (Sq ft)

5,219 SF

Zone code

CO

Property type

Turn key restaurants

APN

A2600-01-000-0001-01

APU

A260001000000101

Description

This exceptional 4,840 square foot free-standing commercial property, built in 2018, presents a unique investment opportunity in Pharr, Texas. Currently operating as a successful BBQ restaurant and beer garden, the property boasts a prime location adjacent to Cinemark and the Pharr Town Centre, ensuring high visibility and foot traffic. The building features a spacious 1,295 square foot outdoor patio ideal for al fresco dining, enhancing the overall dining experience. A dedicated 675 square foot smoker/pit area is included, a key asset for any BBQ establishment. Further adding to its convenience, the property includes a drive-thru for efficient customer service. The restaurant is fully equipped and ready for immediate operation, offering a true turnkey solution for a new owner. Situated on a 1.29-acre lot, the property enjoys excellent accessibility, positioned east of the intersection of North Jackson Road and Polk Avenue, with easy access to Business Highway 83 and Interstate 2. The surrounding area boasts a substantial population base, with 110,444 residents within a 3-mile radius, providing a strong customer base for any business. This presents a rare chance to acquire a well-established and profitable business in a highly desirable location. The property is priced at $1,695,000.

• CAP approach

  CAP return

  Valuation

  6%

  $1,054,280

  6.5%

  $973,181

  7%

  $903,668

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,134,104

  Geo Method

  $2,989,028

• Alternative Use

  Use

  Valuation

  Residential

  $820,915

  Hospitality

  $751,954

  Educational

  $625,616

  Medical

  $647,132

  Retail

  $973,181

Location Insight

City

Pharr

County

Hidalgo

State

Texas

Latitude

26.2066

Longitude

-98.2019

CBSA code

32580

CBSA name

MCALLEN-EDINBURG-MISSION, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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