Medical Office
For Sale
$585,000
104-b-1022 E Griffin Pkwy, Mission, TX 78572
Medical office building with a reception lobby, exam/work stations, and both full and half bathrooms.
Property Size2,400 SF
Price / SF$243.75
Days on Market134
Property Features for 104-b-1022 E Griffin Pkwy
General Information
Standard status
Active
Size
2,400 SF
Taxes and HOA fees
Annual Taxes
$9,036
Amenities
gym area
laundry area
conference room
private office
lunch room
Listing Agency:
Keller Williams Realty RGV
(956) 928-1155
Listed By:
Ronaldo Lacayo
(956) 578-5733
Source:
Exprealty
Added: Jun 11
Changed: Oct 15
Last Checked: Oct 20 at 9:37PM
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 Keller Williams Realty RGV
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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 medical office building is presented in clean, move-in condition and includes a reception area within a sizable lobby. The interior layout features multiple work stations or examination rooms, a large open floor plan area, and a dedicated conference room, private office, and lunch room.
The property is located on busy Griffin Parkway in Mission, TX, with enough parking space for patients and staff.
Additional functional amenities include a gym area, a laundry area, and both a full bathroom and a half bathroom.
The property is located on busy Griffin Parkway in Mission, TX, with enough parking space for patients and staff.
Additional functional amenities include a gym area, a laundry area, and both a full bathroom and a half bathroom.
Key Highlights
- Medical building located on busy Griffin Parkway in the heart of Mission
- Reception lobby plus large open floor plan area
- 4 work stations or examination rooms
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
506
Businesses Nearby
Under-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 Office in South region
Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical office building with a reception lobby, exam/work stations, and both full and half bathrooms.
Where is this medical office space located?
The property is located at 104-b-1022 E Griffin Pkwy 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: Medical building located on busy Griffin Parkway in the heart of Mission; Reception lobby plus large open floor plan area; 4 work stations or examination rooms
