Grocery and Convenience
For Sale
$400,000
904 W US Highway Business 83, Mission, TX 78572
Commercial Sale, Mission, TX
Property Size1,823 SF
Lot Size0.49 Acres
Price / SF$219.42
Days on Market75
Property Features for 904 W US Highway Business 83
General Information
Property type
Commercial Sale
Property subtype
Other
Parking
11
Appliances
Electric Water Heater
Subdivision
Greeneland Acres
Directions
From Expressway 83, take the exit to Loop 374. Continue south on Loop 374 until you see Austin Specialty Shack with the drive-thru on the right-hand side.
Standard status
Active
APN
G805000000000M00
Size
1,823 SF
Lot size
0.49 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4127
Building Details
Year built
2014
Floors in Building
1
Building materials
Stucco
Roof type
Metal
Listing Agency:
eXp Realty LLC
(888) 519-7431
Listed By:
Bry Lyce Talice
(702) 340-0294
Added: Jul 14
Changed: Aug 28
Last Checked: Sep 26 at 9:06PM
MLS# 508152
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 grocery and convenience store property contains 1,823 square feet on a 0.4927-acre parcel. The building was constructed in 2014 and features stucco exterior walls, a metal roof, and an electric water heater. Its placement along 904 W US Highway Business 83 provides a recognizable commercial address in Mission, Texas.
The property is associated with an established specialty retail business that has operated for more than 20 years and serves the Palmview community. The offering is presented as a lease-to-own opportunity, with transition guidance from the current owner available to a new operator.
The property is associated with an established specialty retail business that has operated for more than 20 years and serves the Palmview community. The offering is presented as a lease-to-own opportunity, with transition guidance from the current owner available to a new operator.
Key Highlights
- 1,823‑square‑foot grocery and convenience store property
- 0.4927‑acre parcel at 904 W US Highway Business 83, Mission, TX 78572
- Constructed in 2014
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
$26,457
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
6.61%
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%
$529,140
$529.1K
Cap Rate 7%
$377,957
$378.0K
Cap Rate 9%
$293,967
$294.0K
Market Conditions
NOI Build-Up for 1,823 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
$37.4K $20.52/SF
− Vacancy
−$2.1K −$1.17/SF
EGI
$35.3K $19.35/SF
− OpEx
−$8.8K −$4.84/SF
NOI
$26.5K $14.51/SF
Area
Hidalgo County, TX
Vacancy
5.70%
Lease Rate
$20.52 /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%
$529,140
Cap Rate 7%
$377,957
Cap Rate 9%
$293,967
Alternative Uses
Best Use
Specialty Retail
$378.0K
$330.7K – $441.0K
NOI $26,457 @ 7.0% cap · market cap 6.61%
Second Best
Retail
$351.6K
$307.7K – $410.2K
NOI $24,614 @ 7.0% cap · market cap 6.15%
Theoretical Best
Hotel Hospitality
$1.37M
$1.20M – $1.60M
NOI $96,118 @ 7.0% cap · market cap 24.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
122
Businesses Nearby
Balanced
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Retail building with stucco construction, a metal roof, and direct placement along US Highway Business 83.
Where is this grocery and convenience store located?
The property is located at 904 W US Highway Business 83 Mission, TX.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: 1,823‑square‑foot grocery and convenience store property; 0.4927‑acre parcel at 904 W US Highway Business 83, Mission, TX 78572; Constructed in 2014
