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    Property profile & analytics

    1529 Milam St Mexia, TX 76667-2555

    • Commercial real estate
    • 19,940 SF
    • 0.95 lot acres
    OFF-MARKET
    Value Estimations
    $420,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-8339478
    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

    • Commercial real estate

    Property Details for 1529 Milam St

    Lot size
    0.95 lot acres
    Property size
    19,940 SF
    Property type
    Commercial real estate
    APN
    R16182
    APU
    R16182

    Description

    Prime commercial real estate opportunity in Mexia, TX, featuring a well-maintained, established car wash on Highway 84, directly across from Walmart. The 2,918 square foot building sits on a 0.91-acre lot with 19,940 square feet of concrete. The car wash boasts three self-serve bays, one touch-free bay, and one soft-touch bay (requiring repair). Six vacuums are available under covered parking, along with additional covered parking for customers. Modern payment options include Google and Apple Pay. An office with storage, a full bath with shower, and a security camera system are included. The property also offers potential for expansion due to its size and location. A recent survey (May 2024) confirms the 0.91-acre lot size. High daily traffic counts on Highway 84 (6,943 cars eastbound, 12,883 westbound, per 2023 TxDOT data) ensure consistent customer flow. Highway 84 expansion to five lanes is planned, further enhancing accessibility. Mexia's strategic location provides easy access to major Texas cities, including Dallas/Fort Worth (1.5 hours), Houston/Austin (2.5 hours), and San Antonio (3.5 hours). The property's central location within the Texas Triangle offers significant logistical advantages, with 93% of the US population reachable within 48 hours by truck. This is a turnkey operation with significant growth potential. The asking price is $725,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $420,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Mexia
    County
    Limestone
    State
    Texas
    Longitude
    -96.4561
    Latitude
    31.6862

    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
    $7,480
    $52,250
    $225,720
    $277,970
    -
    $52,250
    $225,720
    $277,970

    Comparable in this City

    • Value Estimation
      $245,000
      0.92 Acres

      Hwy 171

      COMMERCIAL (GENERAL) • 0.92 Acres
      Hwy 171, Mexia, TX 76667
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    • Value Estimation
      $250,000
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      302 Belknap St

      COMMERCIAL (GENERAL) • 2,079 SF
      302 Belknap St, Mexia, TX 76667-3109
      View Details
    • Value Estimation
      $265,000
      5,864 SF

      716 Belknap St

      COMMERCIAL (GENERAL) • 5,864 SF
      716 Belknap St, Mexia, TX 76667-3561
      View Details
    • Value Estimation
      $260,000
      1,188 SF

      1117 Bowie St

      COMMERCIAL (GENERAL) • 1,188 SF
      1117 Bowie St, Mexia, TX 76667-3004
      View Details
    • Value Estimation
      $285,000
      6,050 SF

      206 Commerce St

      COMMERCIAL (GENERAL) • 6,050 SF
      206 Commerce St, Mexia, TX 76667-2818
      View Details
    • Value Estimation
      $285,000
      4,002 SF

      115 Commerce St

      COMMERCIAL (GENERAL) • 4,002 SF
      115 Commerce St, Mexia, TX 76667-2817
      View Details

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    • Contact for pricing
      0.40 Acres

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      0.399-acre lot, city utilities available.
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    Similar Nearby for Lease

    • $8 SF/Yr
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      Mexia Retail Space: Big Box Opportunity

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      Retail Space in Downtown Mexia

      Second generation retail space with excellent visibility and ample parking.
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    • Contact for pricing
      2,959 SF

      Mexia Retail Building - Hwy 84

      Prime Mexia retail space, high traffic location.
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    • $12 SF/Yr
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      Mexia Retail Space: Prime Location

      3,650 sq ft Retail Space, Excellent Visibility
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      View Details
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    1529 Milam St
    Mexia, TX 76667-2555
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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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