Auto Shop with Asphalt
For Sale
$345,000
Pending
516 W Business 83, Mission, TX 78572
COMMERCIAL - Mission, TX
Property Size768 SF
Lot Size0.50 Acres
Days on Market1266
Property Features for 516 W Business 83
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
CO
Parking
62
Exterior features
Storage, Manual Gate
Fencing
Gate
Appliances
Electric Water Heater
Subdivision
Greeneland Acres
Directions
Coming from McAllen area; head west toward I-2 merge onto I-2, then take exit 134 toward US-83/Inspiration Rd. Merge onto W Expy 83/W Frontage Rd N/Us-83 Frontage Rd. Turn left onto Us-83 Bus W and your destination will be on the right.
Standard status
Pending
APN
G805000000000W00
Size
768 SF
Lot size
0.50 Acres
Taxes and HOA fees
Tax Year
2021
Tax Annual Amount
4464
Utilities
Heating system
Central
Cooling system
Central Air
Building Details
Year built
2003
Floors in Building
1
Building materials
Aluminum Siding
Roof type
Metal
Additional Structures
Storage
Listing Agency:
Keller Williams Realty RGV
(956) 928-1155
Listed By:
Ramon Mancinas
(956) 400-1084
Added: Feb 20, 2023
Changed: Aug 4
Last Checked: Aug 9 at 2:06PM
MLS# 376872
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.
Located at 516 W Business 83 in Mission, this auto shop property includes a 768-square-foot commercial building on 0.5039 acres. The existing operation is used for electric auto service, while the site also provides storage, a manual gate, and asphalt parking. Building improvements include aluminum siding, a metal roof, central heating and central air, and an electric water heater. Construction was completed in 2003.
The property includes 10,710 square feet of asphalt parking area, providing substantial paved space within the approximately half-acre site. CO zoning is reported for the property. The combination of a compact building, gated site access, storage, and paved parking supports continued automotive service use.
The property includes 10,710 square feet of asphalt parking area, providing substantial paved space within the approximately half-acre site. CO zoning is reported for the property. The combination of a compact building, gated site access, storage, and paved parking supports continued automotive service use.
Key Highlights
- 768‑square‑foot commercial building on a 0.5039‑acre site
- 10,710 square feet of asphalt parking area
- Currently used for electric auto service
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
$10,370
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
3.01%
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%
$207,400
$207.4K
Cap Rate 7%
$148,143
$148.1K
Cap Rate 9%
$115,222
$115.2K
Market Conditions
NOI Build-Up for 768 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
$15.8K $20.52/SF
− Vacancy
−$946 −$1.23/SF
EGI
$14.8K $19.29/SF
− OpEx
−$4.4K −$5.79/SF
NOI
$10.4K $13.50/SF
Area
Hidalgo County, TX
Vacancy
6.00%
Lease Rate
$20.52 /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%
$207,400
Cap Rate 7%
$148,143
Cap Rate 9%
$115,222
Alternative Uses
Best Use
Retail
$148.1K
$129.6K – $172.8K
NOI $10,370 @ 7.0% cap · market cap 3.01%
Second Best
Warehouse
$70.1K
$61.3K – $81.8K
NOI $4,907 @ 7.0% cap · market cap 1.42%
Theoretical Best
Hotel Hospitality
$578.5K
$506.2K – $674.9K
NOI $40,493 @ 7.0% cap · market cap 11.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
259
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 78572, TX
78,280
Population
32,696
Households
2.4
Avg Household Size
36
Median Age
25%
College-Educated
75%
High-School Grad
53.7 sq mi
ZIP Area
1,458
Density / Sq Mi
$54,029
Median Household Income
$30,004
Median Earnings
$900
Median Rent
$121,900
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Auto shop - Currently used for auto service, with gated access and central heating and cooling.
Where is this auto shop located?
The property is located at 516 W Business 83 Mission, TX.
What is the asking price?
The asking price for this property is $345,000.
What are key features of this property?
This property features: 768‑square‑foot commercial building on a 0.5039‑acre site; 10,710 square feet of asphalt parking area; Currently used for electric auto service
