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    Multifamily Investment in Rio Grande Title is generated by Realmo AI

    1214 Cornerstone Loop, Rio Grande City, TX 78582

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    Claim this Listing
    For Sale
    $3,360,000

    MULTI_FAMILY - Rio Grande City, TX

    Property size:
    40,432 SF
    Lot size:
    2.72 Acres
    Price / SF:
    $83/SF
    Added:
    Feb 13, 2026
    Days on Market:
    111
    Last Refresh:
    Jun 4 at 3:06 am

    Property Features for 1214 Cornerstone Loop

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Parking
    80
    Parking features
    Garage
    Appliances
    Electric Water Heater, Dryer, Refrigerator, Stove/Range, Washer
    Standard status
    Active
    APN
    172800000202200000000 (+ multiple GEO IDS)
    Size
    40,432 SF
    Lot size
    2.72 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    78822

    Utilities

    Heating system
    Central
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    2007
    Floors in Building
    1
    Number of units
    40
    Building materials
    Brick
    Roof type
    Shingle

    We can help!

    Listing Contact
    Jaime Lee Gonzalez
    Jaime Lee Gonzalez

    Listing agent Jaime Lee Gonzalez

    Listing office Keller Williams Realty RGV 3300 N Mccoll. Ste P & Q, McAllen, TX

    Listing date Feb 13, 2026

    MLS# 494702 Listing URL

    Copyright © 2026 Greater McAllen Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Large‑scale multifamily investment: 40 residential units across 10 lots.
    • Well‑balanced unit mix: 27 2BD/1BA and 13 3BD/2BA units.
    • Spacious units: Approximately 1,103 square feet of living space per unit.
    • Convenient location: Easy access to Hwy 83, municipal offices, shopping, and dining.
    • Built in 2007: Relatively modern construction.
    • Essential appliances included: Refrigerator, stove/range, washer, and dryer.

    Overview

    This multifamily investment opportunity features 40 residential units situated across 10 subdivision lots in Rio Grande City, Texas. The property offers a mix of 27 two-bedroom, one-bathroom units and 13 three-bedroom, two-bathroom units. Each unit provides approximately 1,103 square feet of living space, totaling 40,432 square feet across the entire property. Located on Cornerstone Loop and Cedarwood Dr, the property benefits from convenient access to Hwy 83, municipal offices, shopping, and dining options. The location enhances tenant appeal and contributes to occupancy stability. The property is situated on a 2.7158-acre lot in Starr County.
    Property Profile Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Spa & Massage Center Dental Office Hair Salon Nail Salon Hotel & Motel Gym & Fitness Center Skin Care Clinic Food Market Grocery & Convenience Store Cosmetic Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Rio Grande City
    County
    Starr
    State
    Texas
    Longitude
    -98.775692
    Latitude
    26.340005

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    FAQs

    What type of property is this?
    Apartment building - 40-unit multifamily property in Rio Grande City, Texas.
    Where is this apartment building located?
    The property is located at 1214 Cornerstone Loop Rio Grande City, TX.
    What is the asking price?
    The asking price for this property is $3,360,000.
    What are key features of this property?
    This property features: Large‑scale multifamily investment: 40 residential units across 10 lots.; Well‑balanced unit mix: **27 2BD/1BA and 13 3BD/2BA units.**; Spacious units: Approximately **1,103 square feet of living space per unit.**
    (956) 599-8400
    We can help!
    Listing Contact
    Jaime Lee Gonzalez
    Jaime Lee Gonzalez
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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.

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