Freestanding Flex Building with
For Sale
$455,000
1717 La Homa Road, Mission, TX 78574
Free-standing building with two separately leased units and a rear 3,000 sq ft warehouse on a 19,821 sq ft site.
Property Size4,107 SF
Lot Size0.46 Acres
Price / SF$110.79
Days on Market480
Property Features for 1717 La Homa Road
General Information
Standard status
Active
Size
4,107 SF
Lot size
0.46 Acres
Property subtype
General Commercial
Taxes and HOA fees
Annual Taxes
$8,446
Amenities
Central Air, Electric
3
16 Parking Spaces. Paved Driveway.
City Road.
Building Details
Year Built
2006
Tenancy
Multi
Listing Agency:
Re/Max Elite
(956) 583-2100
Listed By:
Maria (Lila) Garcia · License #626016
(956) 227-6215
Source:
Xome
Added: May 11, 2025
Changed: Sep 1
Last Checked: Sep 1 at 5:13PM
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 Re/Max Elite
Investment Insights
Based on property information with market context.
This freestanding flex-style building offers two separate units that are currently leased, with both tenants in place for a very long time. In addition to the two leased units, the site includes a rear 3,000 sq ft warehouse space that can also be leased.
The property is located at 1717 La Homa Road in Mission, Texas, and sits on a 19,821 sq ft lot. Current rents noted are $950 per unit for the two separate units, and $2,400 for the rear warehouse when leased.
Designed for multiple income streams within one property, this configuration provides straightforward leasing continuity for the two existing units and an additional warehouse space for expansion of occupancy within the same site.
The property is located at 1717 La Homa Road in Mission, Texas, and sits on a 19,821 sq ft lot. Current rents noted are $950 per unit for the two separate units, and $2,400 for the rear warehouse when leased.
Designed for multiple income streams within one property, this configuration provides straightforward leasing continuity for the two existing units and an additional warehouse space for expansion of occupancy within the same site.
Key Highlights
- Free‑standing building with 2 separately leased units
- Currently leased for $950 per unit
- Rear 3,000 SF warehouse space can be leased for $2,400
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$26,243
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.77%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$524,860
$524.9K
Cap Rate 7%
$374,900
$374.9K
Cap Rate 9%
$291,589
$291.6K
Market Conditions
NOI Build-Up for 4,107 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$33.0K $8.04/SF
− Vacancy
−$2.1K −$0.52/SF
EGI
$30.9K $7.52/SF
− OpEx
−$4.6K −$1.13/SF
NOI
$26.2K $6.39/SF
Area
Hidalgo County, TX
Vacancy
6.50%
Lease Rate
$8.04 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$524,860
Cap Rate 7%
$374,900
Cap Rate 9%
$291,589
Alternative Uses
Best Use
Warehouse
$374.9K
$328.0K – $437.4K
NOI $26,243 @ 7.0% cap · market cap 5.77%
Second Best
Industrial
$308.7K
$270.2K – $360.2K
NOI $21,612 @ 7.0% cap · market cap 4.75%
Theoretical Best
Hotel Hospitality
$3.09M
$2.71M – $3.61M
NOI $216,542 @ 7.0% cap · market cap 47.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
175
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 78574, TX
63,627
Population
18,309
Households
3.5
Avg Household Size
28
Median Age
16%
College-Educated
58%
High-School Grad
51.9 sq mi
ZIP Area
1,226
Density / Sq Mi
$52,536
Median Household Income
$28,029
Median Earnings
$807
Median Rent
$119,000
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Free-standing building with two separately leased units and a rear 3,000 sq ft warehouse on a 19,821 sq ft site.
Where is this flex space located?
The property is located at 1717 La Homa Road Mission, TX.
What is the asking price?
The asking price for this property is $455,000.
What are key features of this property?
This property features: Free‑standing building with 2 separately leased units; Currently leased for $950 per unit; Rear 3,000 SF warehouse space can be leased for $2,400
