Fenced Office
For Sale
$533,500
348 W Expressway 83, La Joya, TX 78560
Commercial Sale, La Joya, TX
Property Size2,122 SF
Lot Size1.61 Acres
Price / SF$251.41
Days on Market236
Property Features for 348 W Expressway 83
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
F1
Parking
8
Exterior features
Manual Gate
Fencing
Gate
Appliances
Electric Water Heater, Water Heater (Other Location)
Subdivision
Porcion 47
Directions
Corner of Highway 83 & FM 2221
Standard status
Active
APN
1004700000000600
Size
2,122 SF
Lot size
1.61 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
9974
Utilities
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1999
Floors in Building
1
Building materials
Brick, Block
Roof type
Composition
Listing Agency:
Davis Real Estate RGV, LLC
(956) 968-4571
Listed By:
Rogelio (Roy) Ramirez
(956) 376-0799
Added: Jan 13
Changed: Aug 19
Last Checked: Sep 6 at 1:06AM
MLS# 487452
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 2,122-square-foot office building was constructed in 1999 and includes public bathrooms, central heating, and central air conditioning. The front portion is arranged around a waiting area and receptionist or front-office position, while the rear provides a large open area for flexible business layouts. Brick and block construction, a composition roof, and a manual gate are also present.
Positioned at 348 W Expressway 83 in La Joya, the corner property provides access from Highway 83 and FM 2221. The site is fully fenced and includes off-street parking. Zoning is identified as F1. The property sits on approximately 1,608 acres.
Positioned at 348 W Expressway 83 in La Joya, the corner property provides access from Highway 83 and FM 2221. The site is fully fenced and includes off-street parking. Zoning is identified as F1. The property sits on approximately 1,608 acres.
Key Highlights
- 2,122 square feet of office space
- 1999 construction with brick and block materials
- Front waiting area with receptionist or front‑office position
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
$35,495
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
6.65%
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%
$709,900
$709.9K
Cap Rate 7%
$507,071
$507.1K
Cap Rate 9%
$394,389
$394.4K
Market Conditions
NOI Build-Up for 2,122 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
$65.2K $30.72/SF
− Vacancy
−$17.9K −$8.42/SF
EGI
$47.3K $22.30/SF
− OpEx
−$11.8K −$5.58/SF
NOI
$35.5K $16.73/SF
Area
Hidalgo County, TX
Vacancy
27.40%
Lease Rate
$30.72 /SF/Yr
Expense Ratio
25.00%
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%
$709,900
Cap Rate 7%
$507,071
Cap Rate 9%
$394,389
Alternative Uses
Best Use
Office B
$507.1K
$443.7K – $591.6K
NOI $35,495 @ 7.0% cap · market cap 6.65%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$1.60M
$1.40M – $1.86M
NOI $111,882 @ 7.0% cap · market cap 20.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
142
Businesses Nearby
Explore this area
Business Placement
Demographics for 78560, TX
4,815
Population
1,777
Households
2.7
Avg Household Size
32
Median Age
20%
College-Educated
66%
High-School Grad
14.2 sq mi
ZIP Area
339
Density / Sq Mi
$51,739
Median Household Income
$40,971
Median Earnings
$776
Median Rent
$114,400
Median Home Value
Market
Vacancy Rate% for Office 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?
Office units - Two-part interior layout pairs a reception-facing waiting area with a broad rear workspace.
Where is this office units located?
The property is located at 348 W Expressway 83 La Joya, TX.
What is the asking price?
The asking price for this property is $533,500.
What are key features of this property?
This property features: 2,122 square feet of office space; 1999 construction with brick and block materials; Front waiting area with receptionist or front‑office position
