Brick Strip Retail
1312 Expressway 83, Penitas, TX 78576
For Sale
$1,100,000
Commercial Sale, Penitas, TX
Property Size6,820 SF
Lot Size1.76 Acres
Price / SF$161.29
Days on Market47
Property Features for 1312 Expressway 83
General Information
Property type
Property subtype
Parking
Appliances
Subdivision
Directions
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Year
Tax Annual Amount
Utilities
Heating system
Cooling system
Building Details
Year built
Floors in Building
Building materials
Roof type
Buildings
Listing Agency:
RE/MAX elite · RE/MAX International
(956) 583-2100
Listed By:
Jose (J.d) D. Villarreal
(956) 581-2400
Added: Sep 24
Changed: Oct 26
Last Checked: Nov 9 at 3:06AM
MLS# 516161
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.
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Investment Insights
Based on property information with market context.
This approximately 6,820-square-foot strip retail building occupies a 1.76-acre property in Penitas. The brick structure was built in 1983 and includes central electric heating and cooling with zoned controls. Tile and flat roof sections are part of the existing improvements.
The property has access from eastbound Expressway 83 and Buenavista Street. Recent uses have included a medical clinic, pharmacy and retail operation, and office and insurance space. The site includes vacant land beyond the building and parking area, creating room for expansion or a retail subdivision, subject to applicable approvals.
The property has access from eastbound Expressway 83 and Buenavista Street. Recent uses have included a medical clinic, pharmacy and retail operation, and office and insurance space. The site includes vacant land beyond the building and parking area, creating room for expansion or a retail subdivision, subject to applicable approvals.
Key Highlights
- Approximately 6,820 square feet of commercial building area
- 1.76‑acre property with vacant land beyond the building and parking area
- Access from eastbound Expressway 83 and Buenavista Street
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
Healthcare Medical
$1.44M
$1.26M – $1.68M
NOI $100,911 @ 7.0% cap · market cap 9.17%
Second Best
Retail
$1.32M
$1.15M – $1.53M
NOI $92,085 @ 7.0% cap · market cap 8.37%
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.
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
333
Businesses Nearby
184k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 49%
Dining 29%
Shops & Services 19%
Electronics 3%
Walmart
Superstores
90,183 visits/mo
0.4 miles
Dollar Tree
Shops & Services
22,230 visits/mo
0.4 miles
Denny's
Dining
15,459 visits/mo
0.5 miles
Dutch Bros. Coffee
Dining
12,425 visits/mo
0.3 miles
Dollar General
Shops & Services
8,321 visits/mo
0.2 miles
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
$116,600
Median Home Value
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Market
Average Price Trend$/SF for Strip malls in Hidalgo County, TX
Properties on Market for Strip malls in Hidalgo County
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Strip mall - Existing improvements include central zoned HVAC and additional land that can support expansion or retail subdivision.
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: Approximately 6,820 square feet of commercial building area; 1.76‑acre property with vacant land beyond the building and parking area; Access from eastbound Expressway 83 and Buenavista Street
