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    Property profile & analytics

    1617 Polk Ave Pharr, TX 78577

    • Turn key restaurants
    • 5,219 SF
    • 2.79 lot acres
    For Sale
    View listing
    $1,695,000
    Last Sale
    May 17, 2022
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-4427345
    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

    • Turn key restaurants

    Property Details for 1617 Polk Ave

    Year built
    2018
    Lot size
    2.79 lot acres
    Property size
    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.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $420,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $742,000
      Market price range: $384k - $832k

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $635,000
      Current use
      OFFICE BUILDING
      $690,000
      Change: +9% Conversion: Moderate
      RETAIL STORES
      $685,000
      Change: +8% Conversion: Easy
      AUTO REPAIR, GARAGE
      $670,000
      Change: +6% Conversion: Difficult
      MEDICAL BUILDING
      $540,000
      Change: -15% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Pharr
    County
    Hidalgo
    State
    Texas
    Longitude
    -98.2019
    Latitude
    26.2066
    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
    $26,418
    $560,010
    $381,824
    $941,834
    -
    $560,010
    $381,824
    $941,834

    Comparable in this City

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      $670,000
      6,865 SF

      209 Nolana Loop

      RESTAURANT • 6,865 SF
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    • Value Estimation
      $705,000
      6,282 SF

      601 Jackson Rd

      RESTAURANT • 6,282 SF
      601 Jackson Rd, Pharr, TX 78577-5805
      View Details
    • Value Estimation by Request
      3,010 SF

      1209 Nolana Loop

      RESTAURANT • 3,010 SF
      1209 Nolana Loop, Pharr, TX 78577-8124
      View Details
    • Value Estimation by Request
      3,868 SF

      1406 Nolana Loop, Unit 7

      RESTAURANT • 3,868 SF
      1406 Nolana Loop, Pharr, TX 78577-8344
      View Details
    • Value Estimation
      $535,000
      9,607 SF

      709 Us Hwy 83

      RESTAURANT • 9,607 SF
      709 Us Hwy 83, Pharr, TX 78577-4643
      View Details
    • Value Estimation by Request
      1,757 SF

      606 Us Hwy 83

      RESTAURANT • 1,757 SF
      606 Us Hwy 83, Pharr, TX 78577-4913
      View Details

    Similar Nearby for Sale

    • $1,795,000
      4,840 SF

      Turnkey Restaurant with Drive-Thru

      Fully equipped restaurant with patio, smoker, and drive-thru.
      1617 W Polk Ave, Pharr, TX 78577
      View Details
    • $292,000
      1,200 SF

      Turnkey Restaurant in South Pharr

      Established restaurant for sale in South Pharr, Texas.
      5814 Cage Blvd, Pharr, TX 78577
      View Details
    • $175,000

      Turnkey Bar in Prime Location

      Fully-equipped neighborhood bar with loyal customer base for sale.
      107 E Park Ave, Pharr, TX 78577
      View Details
    • $850,000

      Pharr Restaurant & Warehouse Sale

      Prime Commercial Property, Texas
      901 Cage Blvd, Pharr, TX 78577
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    • $499,000
      3,823 SF

      Restaurant Building with Commercial Kitchen

      Former restaurant with kitchen, suitable for retail or redevelopment.
      6701 S Jackson Rd, Pharr, TX 78577
      View Details
    • $585,000
      2,304 SF

      Pharr, TX Commercial Lot

      0.5-acre lot with drive-thru on high-traffic thoroughfare.
      407 N Veterans Blvd, Pharr, TX 78577
      View Details

    Similar Nearby for Lease

    • $5,490 /Mo
      2,990 SF

      Restaurant Ready for Immediate Lease

      Restaurant for lease in high-traffic location near Expressway 281.
      805 E Ferguson Ave, Pharr, TX 78577
      View Details
    • $21 SF/Yr
      12,560 SF

      Sam Houston Plaza: Pharr, TX

      Prime Pharr Office/Retail Space
      1032 Sam Houston Blvd, Pharr, TX 78577
      View Details
    • $18 SF/Yr
      2,093 SF

      Pharr, TX Commercial Space Available

      Prime location, versatile space, ample parking.
      2506 Cage Blvd, Pharr, TX 78577
      View Details
    • $4 SF/Yr
      7,200 SF

      Prime I-2 Commercial Plaza

      7,200 SF Office/Retail Space Available
      404 Interstate 2, Pharr, TX 78577
      View Details
    • $13 SF/Yr
      2,628 SF

      Prime I-2 Commercial Space

      High-traffic location, flexible lease options.
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      View Details
    • Contact for pricing
      17,024 SF

      Junction View Center: Pharr Retail Space

      Prime Pharr retail, restaurant space available. High visibility, excellent location.
      2101 Cage Blvd, 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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