Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Commercial Strip Building in Penitas Title is generated by Realmo AI

    1312 Expressway 83, Penitas, TX 78576

    View on Map
    Claim this Listing
    Picture of Strip malls at 1312 Expressway 83, Penitas, TX
    For Sale
    $1,100,000

    COMMERCIAL - Penitas, TX

    Property size:
    6,820 SF
    Lot size:
    1.76 Acres
    Price / SF:
    $161/SF
    Added:
    Apr 7, 2026
    Days on Market:
    38
    Last Refresh:
    May 14 at 8:06 pm

    Property Features for 1312 Expressway 83

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Parking
    15
    Appliances
    Electric Water Heater, Water Heater (Other Location)
    Standard status
    Active
    APN
    L605000000032900
    Size
    6,820 SF
    Lot size
    1.76 Acres

    Taxes and HOA fees

    Tax Year
    2026
    Tax Annual Amount
    22981

    Utilities

    Heating system
    Central, Zoned, Electric (Heating)
    Cooling system
    Zoned, Central Air, Electric

    Building Details

    Year built
    1983
    Floors in Building
    1
    Building materials
    Brick
    Roof type
    Tile, Flat

    We can help!

    Listing Contact
    Jose (J.d) D. Villarreal

    Listing agent Jose (J.d) D. Villarreal

    Listing office Limas Realty, LLC 520 W Pecan, McAllen, TX

    Listing date Apr 7, 2026

    MLS# 501132

    Copyright © 2026 Greater McAllen Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Large 6,820 sq ft commercial building with 1.76 acres of land.
    • Ample vacant land allows for expansion or retail subdivision.
    • Excellent access from Expressway 83 and Buenavista Street.
    • Suitable for medical, retail, or office use.
    • Zoned central heating and cooling (electric).
    • Brick construction with flat tile roof.

    Overview

    This commercial strip building, offering approximately 6,820 square feet of space, is available for purchase. Situated in the Mission, Penitas, and LaJoya area, the property includes a 1.76-acre lot with ample vacant land suitable for expansion or retail subdivision. The building's recent uses include a medical clinic, pharmacy/retail space, and office/insurance services. The property benefits from immediate access to East-Bound Expressway 83 and Buenavista Street in Penitas. Located in Hidalgo County, the building and vacant land are ready for a new owner to serve the surrounding community.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Strip malls

    Suggested Use

    Real Estate Agency Restaurant Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Hair Salon Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Penitas
    County
    Hidalgo
    State
    Texas
    Longitude
    -98.449567
    Latitude
    26.243964

    Nearby Similar for Sale

    • $900,000
      3,182 SF

      Established Restaurant in Growing Area

      Turnkey restaurant in Penitas, TX, with owner financing.
      204 Tom Gill Road, Penitas, TX 78576
      View Details
    • $620,000
      10,164 SF

      Penitas TX Multifamily Investment Opportunity

      Fully occupied 8-plex near U.S. 83 in Penitas, TX.
      1502 Diamond Avenue, Penitas, TX 78576
      View Details
    • $299,900
      2,150 SF

      Penitas Office Space with Acreage

      Office space with garage on 1 acre plus 6.52 acres.
      1420 Expressway 83 Highway, Penitas, TX 78576
      View Details
    • $2,312,000
      1,227 SF

      Freestanding Sonic Investment Property

      New 20-year NNN lease with rental increases in Penitas, Texas.
      1815 E Expressway 83, Penitas, TX 78576
      View Details
    • $270,000
      3,248 SF

      Penitas Commercial Opportunity For Sale

      Commercial property in Penitas, Texas, with high traffic location.
      2110 E Expressway 83, Penitas, TX 78516
      View Details
    • $185,000

      Taqueria on Tom Gill Road

      Turnkey taqueria with drive-thru on high-traffic Tom Gill Road.
      614 Tom Gill Road, Penitas, TX 78576
      View Details

    FAQs

    What type of property is this?
    Strip mall - 6,820 SF commercial building on 1.76 acres for sale.
    Where is this strip mall 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: Large 6,820 sq ft commercial building with 1.76 acres of land.; Ample vacant land allows for expansion or retail subdivision.; Excellent access from Expressway 83 and Buenavista Street.
    (956) 581-2400
    We can help!
    Listing Contact
    Jose (J.d) D. Villarreal
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    1312 Expressway 83, Penitas, TX 78576
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!