Medical Office with Exam
New
For Sale
$585,000
1022 E Griffin Parkway #104 B, Mission, TX 78572
The 2003 property combines patient rooms with reception, office, conference, and support areas.
Property Size2,400 SF
Price / SF$243.75
Days on Market4
Property Features for 1022 E Griffin Parkway #104 B
General Information
Standard status
Active
Size
2,400 SF
Additional Details
Condition
Move-in Ready
Property Use
Medical Office
Taxes and HOA fees
Annual Taxes
$9,036
Amenities
lobby
reception area
examination rooms
gym area
laundry area
conference room
private office
lunch room
Tile
true
2400
Energy Features (Double Pane Windows)
HidalgoCAD
Medical Complex
7487.964
32
0.1719
Blacktop
City Street
false
Building Details
Building Size
2,400 SF
Year Built
2003
Stories
1
Listing Agency:
(956) 539-7317
Listed By:
Cascia Diaz
Source:
Cncrealtyrgv
Added: Oct 30
Changed: Oct 31
Last Checked: Oct 31 at 3:23AM
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 Cascia Diaz
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 2,400-square-foot medical office, built in 2003, is arranged with a lobby and reception area, four work or examination rooms, and a large open-plan area. Additional spaces include a gym area, laundry area, conference room, private office, and lunch room, along with one full bathroom and one half bathroom.
The property is at 1022 E Griffin Parkway #104 B in Mission, within a medical complex. Parking is available on site.
The property is at 1022 E Griffin Parkway #104 B in Mission, within a medical complex. Parking is available on site.
Key Highlights
- 2,400‑square‑foot medical office built in 2003
- Four work stations or examination rooms
- Lobby with reception area and a large open‑plan space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,145
Cap Rate
6.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$802,900
$802.9K
Cap Rate 7%
$573,500
$573.5K
Cap Rate 9%
$446,056
$446.1K
Market Conditions
NOI Build-Up for 2,400 SF
Gross rent
$73.7K $30.72/SF
− Vacancy
−$20.2K −$8.42/SF
EGI
$53.5K $22.30/SF
− OpEx
−$13.4K −$5.58/SF
NOI
$40.1K $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 Rate 5%
$802,900
Cap Rate 7%
$573,500
Cap Rate 9%
$446,056
Alternative Uses
Best Use
Office B
$573.5K
$501.8K – $669.1K
NOI $40,145 @ 7.0% cap · market cap 6.86%
Second Best
Healthcare Medical
$507.3K
$443.9K – $591.9K
NOI $35,511 @ 7.0% cap · market cap 6.07%
Theoretical Best
Hotel Hospitality
$1.81M
$1.58M – $2.11M
NOI $126,540 @ 7.0% cap · market cap 21.63%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
76
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
Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Medical Office Space - The 2003 property combines patient rooms with reception, office, conference, and support areas.
Where is this medical office space located?
The property is located at 1022 E Griffin Parkway #104 B Mission, TX.
What is the asking price?
The asking price for this property is $585,000.
What are key features of this property?
This property features: 2,400‑square‑foot medical office built in 2003; Four work stations or examination rooms; Lobby with reception area and a large open‑plan space
