Commercial Land with Repair
For Sale
$1,980,000
2012 W Mile 3 Road N, Mission, TX 78573
Commercial Sale, Mission, TX
Property Size17,336 SF
Lot Size10.77 Acres
Price / SF$114.21
Days on Market148
Property Features for 2012 W Mile 3 Road N
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
CO
Exterior features
Manual Gate, Mature Trees
Fencing
Gate
Appliances
Electric Water Heater
Subdivision
Padron
Directions
Follow Interstate 69C/I-69C S/US-281 S toward McAllen Take exit 134 on the right onto W Expressway 83 toward Inspiration Road Turn right onto Inspiration Rd Follow Inspiration Rd It will be on your right-hand side before getting to Moorefield 2012 W 3 Mile Line Rd, Mission, TX 78573
Standard status
Active
APN
P001700000000100
Size
17,336 SF
Lot size
10.77 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
2596
Building Details
Year built
2013
Floors in Building
1
Building materials
Block
Roof type
Metal
Listing Agency:
RE/MAX elite · RE/MAX International
(956) 583-2100
Listed By:
Lizeth Solar · License #801071563
(956) 789-2466
Added: Apr 15
Changed: Sep 4
Last Checked: Sep 9 at 2:06AM
MLS# 493860
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.
Investment Insights
Based on property information with market context.
This commercial land offering is organized into six lots, including four front commercial lots measuring 0.5 acres each. The property carries CO zoning and includes an existing repair shop on Lot 2 with a canopy and concrete floor; that improvement is currently leased. A mobile home occupies the rear portion of Lot 3 and measures 1,424 square feet, while the stated gross building area is 2,164 square feet.
The property is located on Mile 3 Road between Inspiration and Moorefield in Mission, with access from a gated site featuring mature trees. The lots may be purchased together or separately. Additional improvements include block construction, a metal roof, and an electric water heater.
The property is located on Mile 3 Road between Inspiration and Moorefield in Mission, with access from a gated site featuring mature trees. The lots may be purchased together or separately. Additional improvements include block construction, a metal roof, and an electric water heater.
Key Highlights
- CO‑zoned commercial land divided into 6 lots
- Four front commercial lots measure 0.5 acres each
- Existing repair shop on Lot 2 with canopy and concrete floor
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$91,225
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.61%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,824,500
$1.8M
Cap Rate 7%
$1,303,214
$1.3M
Cap Rate 9%
$1,013,611
$1.0M
Market Conditions
NOI Build-Up for 17,336 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$139.4K $8.04/SF
− Vacancy
−$9.1K −$0.52/SF
EGI
$130.3K $7.52/SF
− OpEx
−$39.1K −$2.26/SF
NOI
$91.2K $5.26/SF
Area
Hidalgo County, TX
Vacancy
6.50%
Lease Rate
$8.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,824,500
Cap Rate 7%
$1,303,214
Cap Rate 9%
$1,013,611
Alternative Uses
Best Use
Retail
$3.34M
$2.93M – $3.90M
NOI $234,073 @ 7.0% cap · market cap 11.82%
Second Best
Industrial
$1.30M
$1.14M – $1.52M
NOI $91,225 @ 7.0% cap · market cap 4.61%
Theoretical Best
Hotel Hospitality
$13.06M
$11.43M – $15.23M
NOI $914,041 @ 7.0% cap · market cap 46.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
222
Businesses Nearby
Explore this area
Business Placement
Demographics for 78573, TX
42,229
Population
13,339
Households
3.2
Avg Household Size
29
Median Age
15%
College-Educated
63%
High-School Grad
36.7 sq mi
ZIP Area
1,151
Density / Sq Mi
$51,185
Median Household Income
$27,730
Median Earnings
$909
Median Rent
$154,800
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Commercial land - Six-lot tract with CO zoning, an existing leased repair shop, and commercial frontage along Mile 3 Road.
Where is this commercial land located?
The property is located at 2012 W Mile 3 Road N Mission, TX.
What is the asking price?
The asking price for this property is $1,980,000.
What are key features of this property?
This property features: CO‑zoned commercial land divided into 6 lots; Four front commercial lots measure 0.5 acres each; Existing repair shop on Lot 2 with canopy and concrete floor
