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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1021 Interstate 2nd 2 Pharr, TX 78577

    • Medical offices
    • 28,768 SF
    • 3.20 lot acres
    OFF-MARKET
    Last Sale
    Apr 10, 2024
    Value Estimations
    $4,050,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-0021428
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Medical offices

    Property Details for 1021 Interstate 2nd 2

    Year built
    2019
    Lot size
    3.20 lot acres
    Property size
    28,768 SF
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    V2765-00-000-0001-00
    APU
    V276500000000100

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $4,555,000
      Market price range: $1.38M - $4.56M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $2,965,000
      Current use
      OFFICE BUILDING
      $3,800,000
      Change: +28% Conversion: Easy
      RETAIL STORES
      $3,770,000
      Change: +27% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $3,690,000
      Change: +25% Conversion: Difficult
      RESTAURANT
      $3,490,000
      Change: +18% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $2,635,000
      Change: -11% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Pharr
    County
    Hidalgo
    State
    Texas
    Longitude
    -98.0002
    Latitude
    26.1717
    CBSA code
    32580
    CBSA name
    MCALLEN-EDINBURG-MISSION, TX METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $285,337
    $1,615,169
    $9,532,564
    $11,147,733
    -
    $1,615,169
    $9,532,564
    $11,147,733

    Comparable in this City

    • Value Estimation
      $1,590,000
      11,002 SF

      805 Cage Blvd

      MEDICAL BUILDING • 11,002 SF
      805 Cage Blvd, Pharr, TX 78577-3102
      View Details
    • Value Estimation
      $1,600,000
      29,190 SF

      926 Sam Houston Blvd

      MEDICAL BUILDING • 29,190 SF
      926 Sam Houston Blvd, Pharr, TX 78577-5232
      View Details
    • Value Estimation
      $1,480,000
      24,089 SF

      1002 Sam Houston Blvd

      MEDICAL BUILDING • 24,089 SF
      1002 Sam Houston Blvd, Pharr, TX 78577-5224
      View Details
    • Value Estimation
      $845,000
      11,825 SF

      710 Cage Blvd

      MEDICAL BUILDING • 11,825 SF
      710 Cage Blvd, Pharr, TX 78577-5461
      View Details
    • Value Estimation by Request
      3,724 SF

      105 Polk Ave

      MEDICAL BUILDING • 3,724 SF
      105 Polk Ave, Pharr, TX 78577-3110
      View Details
    • Value Estimation by Request
      7,724 SF

      1104 Sam Houston Blvd

      MEDICAL BUILDING • 7,724 SF
      1104 Sam Houston Blvd, Pharr, TX 78577-5104
      View Details

    Similar Nearby for Sale

    • $3,800,000
      36,186 SF

      36,186 SF Office / Medical | Pharr TX 78577

      36,186 SF Office / Medical | Pharr TX 78577
      1503 W Polk Ave., Pharr, TX 78577
      View Details
    • $720,000
      4,280 SF

      Turn-Key Commercial Property in Pharr

      Move-in ready commercial property suitable for medical, daycare, or professional use.
      819 E Eller Ave, Pharr, TX 78577
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    • $330,000
      1,692 SF

      Established Salon in Prime Location

      Thriving beauty salon with loyal clientele in high-traffic area.
      214 E Ferguson St, Pharr, TX 78577
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    • $1,795,000
      6,241 SF

      Prime Commercial Building in Pharr

      High-visibility commercial building with versatile spaces in a high-traffic location.
      1009 E Interstate 2, Pharr, TX 78577
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    • $2,000,000
      17,641 SF

      America Plaza: Pharr Office/Retail Complex

      Prime Pharr location, 17,641 sq ft, multi-tenant.
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    • $1,195,000
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      Pharr Executive Office Building

      Prime Pharr office, 5,325 sq ft.
      819 Veterans Blvd, Pharr, TX 78577
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    Similar Nearby for Lease

    • $18 SF/Yr
      29,190 SF

      Pharr Medical Office Space Available

      Prime Medical Office Building, Pharr, TX
      900 Sam Houston Blvd, Pharr, TX 78577
      View Details
    • $20 SF/Yr
      24,787 SF

      Prime Pharr Medical Office Space

      Two Suites Available, High Visibility, Excellent Location
      1002 Sam Houston Blvd, Pharr, TX 78577
      View Details
    • $33 SF/Yr
      271 SF

      Prime Hwy 281 Office Space

      272 sq ft Office/Storage, Hwy 281
      1801 Us Hwy 281, Pharr, TX 78577
      View Details
    • $3,930 /Mo
      3,275 SF

      Stand-Alone Medical Clinic For Lease

      Well-laid out medical clinic ready for immediate operation.
      1100 W Sam Houston Blvd, Pharr, TX 78577
      View Details
    • $20 SF/Yr
      12,635 SF

      Pharr Office Space: 7013 S Cage Blvd

      Move-in ready offices, flexible suites.
      7013 Cage Blvd, Pharr, TX 78577
      View Details
    • $25 SF/Yr
      1,848 SF

      Pharr, TX Commercial Land & Office

      1.356-acre lot, 1848 sq ft office, 24 parking spaces.
      1200 Interstate 2, Pharr, TX 78577
      View Details
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    Pharr, TX 78577
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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