Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Land Available for Development Title is generated by Realmo AI

    1015 East Mile 11 North, Weslaco, TX 78599

    View on Map
    Claim this Listing
    For Sale
    $2,500,000

    Land available for development with engineering in early phases.

    Type:Land / Acreage
    Property size:
    994,474 SF
    Lot size:
    22.83 Acres
    Price / SF:
    $2/SF
    Added:
    Jan 15, 2025
    Days on Market:
    506
    Last Refresh:
    May 13 at 10:17 pm

    Property Features for 1015 East Mile 11 North

    General Information

    Standard status
    Active
    Size
    994,474 SF
    Lot size
    22.83 Acres
    Property subtype
    Land / Acreage

    We can help!

    Listing Contact
    Antonio Salinas

    Listing agent Antonio Salinas

    Listing office Antonio Salinas Lll - Office

    Listing date Jan 15, 2025

    Source Compass

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Antonio Salinas Lll - Office

    HighLights

    • Sewer lift station is nearby
    • Survey and topography are completed
    • Engineering to develop the property is in the beginning phases
    • Engineers are preparing plans to extend the sewer
    • Estimated sewer completion February 2026
    • No fencing

    Overview

    This property consists of land suitable for development. Engineering work is in the beginning phases, with survey and topography completed. A nearby sewer lift station allows for potential sewer extension, with engineers preparing the necessary plans. The estimated completion date for the sewer extension is February 2026. The property size is 994474 square feet.
    Location Intelligence

    Current Use by Public Records

    Land

    Suggested Use

    Restaurant Real Estate Agency Building Supply Spa & Massage Center Auto Repair Shop Hair Salon Nail Salon Hotel & Motel Auto Parts Store Food Market

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Weslaco
    County
    Hidalgo
    State
    Texas
    Longitude
    -97.9837996
    Latitude
    26.2138247

    Nearby Similar for Sale

    • $1,499,000
      3,100 SF

      Turn-Key Restaurant on International Boulevard

      Established restaurant with outdoor entertainment venue on 1.64 acres.
      1015 S International Boulevard, Weslaco, TX 78596
      View Details
    • $750,000
      7,738 SF

      Restaurant Building in High Traffic Area

      Large restaurant with indoor and outdoor dining in Weslaco.
      2708 N Texas Boulevard, Weslaco, TX 78599
      View Details
    • $769,000
      4,212 SF

      Turnkey Restaurant Opportunity in Weslaco

      Fully equipped restaurant on a high-traffic location.
      1501 W Business 83 Road, Weslaco, TX 78596
      View Details
    • $175,000
      4,000 SF

      Versatile Commercial Property in Weslaco

      Multi-use property in Weslaco, suitable for offices, retail, or church.
      320 E Huisache Street, Weslaco, TX 78596
      View Details
    • $349,000

      Prime Land in Weslaco, TX

      1.14 acres near Texas Blvd with rezoning potential.
      414 E 18th Street, Weslaco, TX 78596
      View Details
    • $430,000
      3,944 SF

      Weslaco Fourplex Investment Opportunity

      Fourplex in Weslaco with strong rental income potential.
      2108 Davenport Street, Weslaco, TX 78596
      View Details
    • $750,000

      Weslaco Land Ideal for Development

      Corner lot suitable for commercial or residential development.
      S Airport Drive, Weslaco, TX 78596
      View Details
    • $350,000
      4,704 SF

      Mixed-Use Property in Weslaco, TX

      Mixed-use property with three detached buildings in a prime location.
      319 E Los Torritos Street, Weslaco, TX 78596
      View Details
    • $364,900
      3,161 SF

      Weslaco Triplex Investment Opportunity

      Fully rented triplex near expressway, school, park, and medical district.
      2109 Davenport Street, Weslaco, TX 78596
      View Details
    • $1,200,000
      13,875 SF

      Weslaco Multifamily Investment Opportunity

      17-unit apartment complex in Weslaco, TX, fully leased.
      800 S Texas Boulevard, Weslaco, TX 78596
      View Details
    • $2,395,000
      19,200 SF

      Weslaco Plaza for Sale

      19,200 SF plaza on 1.75 acres in Weslaco, TX.
      1125 James Street, Weslaco, TX 78596
      View Details
    • $249,000
      1,864 SF

      Weslaco Commercial Property For Sale

      Commercial property in high-traffic area, ideal for various businesses.
      403 PIKE BLVD., WESLACO, TX 78596
      View Details

    FAQs

    What type of property is this?
    Land - Land available for development with engineering in early phases.
    Where is this land located?
    The property is located at 1015 East Mile 11 North Weslaco, TX.
    What is the asking price?
    The asking price for this property is $2,500,000.
    What are key features of this property?
    This property features: Sewer lift station is nearby; Survey and topography are completed; Engineering to develop the property is in the beginning phases
    (956) 682-8751
    We can help!
    Listing Contact
    Antonio Salinas
    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
    1015 East Mile 11 North, Weslaco, TX 78599
    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!