Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Elsa, TX Development Tract Title is generated by Realmo AI

    N Mile 16 Road E, Elsa, TX 78543

    View on Map
    Claim this Listing
    For Sale
    $3,357,550

    LAND - Elsa, TX

    Lot size:
    95.93 Acres
    Added:
    Apr 6, 2026
    Days on Market:
    60
    Last Refresh:
    Jun 4 at 7:06 am

    Property Features for N Mile 16 Road E

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    AO
    Standard status
    Active
    APN
    326110, 326111
    Lot size
    95.93 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    15834

    We can help!

    Listing Contact
    Jonathan W. Cohrs
    Jonathan W. Cohrs

    Listing agent Jonathan W. Cohrs

    Listing office Cohrs Realty Group Po Box 698, Donna, TX

    Listing date Apr 6, 2026

    MLS# 500968 Listing URL

    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.

    HighLights

    • Located next to Walmart
    • Development tract
    • Paved frontage on Mile 16
    • Located next to New Idea School
    • Level farmland
    • Irrigated farmland

    Overview

    This 95.93-acre development tract is located in Elsa, Texas. The property features paved frontage on Mile 16 and consists of level, irrigated farmland. Situated next to the New Idea School and Walmart, the land is zoned AO.
    Location Intelligence

    Current Use by Public Records

    Agricultural land / Farmland

    Map

    City
    Elsa
    County
    Hidalgo
    State
    Texas
    Longitude
    -97.983091
    Latitude
    26.286924

    Nearby Similar for Sale

    • $325,000
      5,969 SF

      Mixed-Use Retail Building in Elsa

      Versatile investment property with retail and residential income potential.
      705 N Broadway Street, Elsa, TX 78543
      View Details
    • $325,000

      Elsa, TX Commercial Opportunity

      1.24 acre commercial property with redevelopment potential in Elsa, TX.
      1 E 4th Avenue W, Elsa, TX 78543
      View Details
    • $375,000

      Elsa, TX Commercial Land

      Corner lot near one acre, great investment opportunity.
      422 E VFW Street, Elsa, TX 78543
      View Details
    • $175,000

      Elsa, TX Agricultural Land

      7.83 acres of prime agricultural land in Elsa, Texas.
      Norene Drive, Elsa, TX 78538
      View Details
    • $320,000

      Elsa, TX 10-Acre Land

      10 acres of land with utilities near Elsa, Texas.
      Mile 17 1/2 N, Elsa, TX 78543
      View Details
    • $360,000
      2,190 SF

      Elsa, TX Triplex Investment

      Triplex on nearly two acres with development potential.
      19310 N Mile 6 Road W, Elsa, TX 78543
      View Details
    • $54,900

      Residential Lot in Leon Heights

      Residential lot available in Elsa's Leon Heights subdivision.
      421 N Leon Avenue, Elsa, TX 78543
      View Details
    • $54,900

      Residential Lot in Elsa, TX

      Residential lot available for building a dream home.
      425 N Leon Avenue, Elsa, TX 78543
      View Details
    • $54,900

      Residential Lot in Elsa, TX

      Residential lot available in Leon Heights subdivision, Elsa, TX.
      437 N Leon Avenue, Elsa, TX 78543
      View Details
    • $50,000

      Residential Lot in Leon Heights

      Vacant lot ready for a custom-built home in Elsa, TX.
      428 S Bowie Street, Elsa, TX 78543
      View Details
    • $54,900

      Residential Lot in Elsa, TX

      Residential lot available in Leon Heights subdivision, Elsa, TX.
      417 N Leon Avenue, Elsa, TX 78543
      View Details
    • $850,000
      6,777 SF

      Retail/Office Building in Elsa, TX

      6,776 SF retail/office building in a high-traffic location.
      412 E Edinburg Ave, Elsa, TX 78543
      View Details

    FAQs

    What type of property is this?
    Agricultural land / Farmland - 95.93 acre development tract in Elsa, Texas.
    Where is this agricultural land / farmland located?
    The property is located at N Mile 16 Road E Elsa, TX.
    What is the asking price?
    The asking price for this property is $3,357,550.
    What are key features of this property?
    This property features: Located next to Walmart; Development tract; Paved frontage on Mile 16
    (956) 330-1878
    We can help!
    Listing Contact
    Jonathan W. Cohrs
    Jonathan W. Cohrs
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    N Mile 16 Road E, Elsa, TX 78543
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!