Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    3 W Mile 3 Rd N Palmview, TX 78572

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $375,000

    1.72 acres with redevelopment potential and existing structure.

    Lot size:
    1.72 Acres

    Property Features for 3 W Mile 3 Rd N

    General Information

    Lot size
    1.72 Acres

    We can help!

    Listing Contact
    Alejandro Adame
    Source: Cbcworldwide

    Listing Agent: Alejandro Adame

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

    Learn more

    Property Insight Report

    Overview

    Prime Land with Redevelopment Potential

    This 1.72-acre property is located just north of an adjacent warehouse, which is also available for sale, presenting a combined purchase opportunity. The site features a 3,703-square-foot home, being sold in as-is condition, suitable for future redevelopment or conversion into office space. The property offers excellent frontage and visibility, making it suitable for owner-users or investors seeking space with potential upside.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Spa & Massage Center Hair Salon Nail Salon Building Supply Auto Repair Shop Big Box & Wholesale Store Accounting Firm Hotel & Motel Auto Parts Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Palmview
    County
    Hidalgo
    State
    Texas
    Longitude
    -98.3913
    Latitude
    26.3187

    Nearby Similar for Sale

    • $332,000
      1,830 SF

      Palmview Commercial Property For Sale

      Versatile commercial property with multiple income-producing opportunities in Palmview, TX.
      804 W Veterans Blvd, Palmview, TX 78572
      View Details
    • $495,000
      8,038 SF

      Income-Producing Palmview 8-Plex

      Well-maintained 8-unit property with strong tenant demand in Palmview.
      3803 Clavel St, Palmview, TX 78572
      View Details
    • $1,675,000
      4,288 SF

      Palmview, TX Commercial Opportunity

      Income-producing commercial property near expressway with development potential.
      3105 W Expy 83 Hwy, Palmview, TX 78572
      View Details
    • $385,000
      4,462 SF

      Palmview Mixed-Use Commercial Property

      Two Homes, 0.7 Acres, Prime Location
      1200 Veterans Blvd, Palmview, TX 78572
      View Details
    • $1,050,000
      208,510 SF

      Prime Palmview Commercial Land

      5-Acre Lot, High Traffic Area, Huge Potential
      7705 La Homa Rd, Palmview, TX 78574
      View Details
    • $650,000
      2,109 SF

      Prime Palmview Commercial Land

      2.75 Acres, High Visibility, Endless Potential
      1041 Palma Vis Dr, Palmview, TX 78572
      View Details
    • $1,800,000
      3,655 SF

      Palmview Commercial Investment Opportunity

      Prime 1.2-acre commercial property, three buildings.
      1317 Palma Vis Dr, Palmview, TX 78572
      View Details
    • $875,000
      2,400 SF

      Prime Palmview Commercial Space

      High-traffic location, automotive shop ready.
      611 Bentsen Palm Dr, Palmview, TX 78574
      View Details
    • $495,000
      3,722 SF

      Expressway 83 Warehouse Investment

      Prime Palmview Warehouse - High Visibility
      2304 Expy 83 Hwy, Palmview, TX 78572
      View Details
    • $3,295,000
      22,354 SF

      Prime Palmview Commercial Land

      RV Park with Expansion Potential
      511 Loop, Palmview, TX 78572
      View Details
    • $470,000
      196 SF

      Palmview Commercial Property Investment

      High-Traffic Expressway 83 Location
      7513 Expy 83, Palmview, TX 78572
      View Details

    FAQs

    What type of property is this?
    Land - 1.72 acres with redevelopment potential and existing structure.
    Where is this land located?
    The property is located at 3 W Mile 3 Rd N Palmview, TX.
    What is the asking price?
    The asking price for this property is $375,000.
    What are key features of this property?
    This property features: - 1.72 acres of land with excellent frontage and visibility.; - Opportunity to purchase adjacent warehouse parcel together.; - Ideal for redevelopment or office conversion.
    Request Owner's contact information
    3 W Mile 3 Rd N Palmview, TX 78572
    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.
    3 W Mile 3 Rd N
    Palmview, TX 78572
    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
    3 W Mile 3 Rd N Palmview, TX 78572
    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

    We can help!
    Listing Contact
    Alejandro Adame
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!