Mixed-Use Property with Vacant
1312 Expressway 83, Penitas, TX 78576
For Sale
New
$1,100,000
The building’s prior uses included medical care, pharmacy and retail, and office services.
Property Size6,820 SF
Lot Size1.76 Acres
Price / SF$161.29
Days on Market1
Property Features for 1312 Expressway 83
General Information
Standard status
Size
Total Parking Spaces
Lot size
Property subtype
Site & Location
Highway Access
Road Access
Additional Details
Property Use
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Buildings
Stories
Listing Agency:
RE/MAX elite
(956) 583-2100
Listed By:
Jose (J. D) D. Villarreal
(956) 581-2400
Source:
Culturare
Added: Nov 6
Last Checked: Nov 6 at 2:21PM
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
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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 6,820-square-foot mixed-use property sits on approximately 1.76 acres, including the building, parking area, and vacant land. Its prior uses included a medical clinic, pharmacy and retail space, and an office for insurance services. The building dates to 1983.
At 1312 Expressway 83 in Penitas, the property has access from eastbound Expressway 83 and Buenavista Street. The vacant land provides space for expansion or retail subdivision.
At 1312 Expressway 83 in Penitas, the property has access from eastbound Expressway 83 and Buenavista Street. The vacant land provides space for expansion or retail subdivision.
Key Highlights
- 6,820‑square‑foot building on approximately 1.76 acres
- Prior uses included a medical clinic, pharmacy and retail, and an insurance office
- Vacant land offers room for expansion or retail subdivision
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$100,911
Cap Rate
9.17%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,018,220
$2.0M
Cap Rate 7%
$1,441,586
$1.4M
Cap Rate 9%
$1,121,233
$1.1M
Market Conditions
NOI Build-Up for 6,820 SF
Gross rent
$202.1K $29.64/SF
− Vacancy
−$34.0K −$4.98/SF
EGI
$168.2K $24.66/SF
− OpEx
−$67.3K −$9.86/SF
NOI
$100.9K $14.80/SF
Area
Hidalgo County, TX
Vacancy
16.80%
Lease Rate
$29.64 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,018,220
Cap Rate 7%
$1,441,586
Cap Rate 9%
$1,121,233
Alternative Uses
Best Use
Office B
$1.63M
$1.43M – $1.90M
NOI $114,078 @ 7.0% cap · market cap 10.37%
Second Best
Healthcare Medical
$1.44M
$1.26M – $1.68M
NOI $100,911 @ 7.0% cap · market cap 9.17%
Theoretical Best
Hotel Hospitality
$5.14M
$4.49M – $5.99M
NOI $359,585 @ 7.0% cap · market cap 32.69%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
248
Businesses Nearby
Explore this area
Business Placement
Demographics for 78576, TX
13,901
Population
3,362
Households
4.1
Avg Household Size
25
Median Age
6%
College-Educated
53%
High-School Grad
58.2 sq mi
ZIP Area
239
Density / Sq Mi
$48,205
Median Household Income
$21,962
Median Earnings
$629
Median Rent
$116,600
Median Home Value
Market
Average Price Trend$/SF for Mixed-use properties in Hidalgo County, TX
Properties on Market for Mixed-use properties in Hidalgo County
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - The building’s prior uses included medical care, pharmacy and retail, and office services.
Where is this mixed-use property located?
The property is located at 1312 Expressway 83 Penitas, TX.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 6,820‑square‑foot building on approximately 1.76 acres; Prior uses included a medical clinic, pharmacy and retail, and an insurance office; Vacant land offers room for expansion or retail subdivision
