Mixed-Use Property with
For Sale
$459,000
1313 N Conway Avenue, Mission, TX 78572
Retail space fronts six apartments, creating a combined commercial and residential configuration on a city road.
Property Size3,993 SF
Price / SF$114.95
Days on Market342
Property Features for 1313 N Conway Avenue
General Information
Standard status
Active
Size
3,993 SF
Property subtype
General Commercial
Units
Unit Mix
5 x 1BR/1BA, 1 x 2BR/1BA
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$9,293
Amenities
Central Air, Window Air Conditioning, Electric
3
23 Parking Spaces. Paved Driveway.
Downtown, City Road.
Building Details
Year Built
1972
Tenancy
Multi
Listing Agency:
(956) 451-0435
Listed By:
Wise Properties
(956) 451-0435
Source:
Xome
Added: Sep 23, 2025
Changed: Aug 29
Last Checked: Aug 30 at 1:26PM
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 Wise Properties
Investment Insights
Based on property information with market context.
This mixed-use property contains 3,993 square feet with retail space at the front and six apartment units positioned behind it. Five apartments include one bedroom and one bathroom, while the remaining unit offers two bedrooms and one bathroom. The building dates to 1972 and includes central air, window air conditioning, and electric service.
Located on North Conway Avenue in Mission, Texas, the property includes 23 parking spaces, a paved driveway, and frontage along a city road. The layout brings storefront and residential components together within one commercial property.
Located on North Conway Avenue in Mission, Texas, the property includes 23 parking spaces, a paved driveway, and frontage along a city road. The layout brings storefront and residential components together within one commercial property.
Key Highlights
- 3,993‑square‑foot mixed‑use property with retail space and six apartments
- Five 1‑bedroom, 1‑bathroom apartments plus one 2‑bedroom, 1‑bathroom unit
- 23 parking spaces with a paved driveway
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
$40,429
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
8.81%
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%
$808,580
$808.6K
Cap Rate 7%
$577,557
$577.6K
Cap Rate 9%
$449,211
$449.2K
Market Conditions
NOI Build-Up for 3,993 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
$71.9K $18.00/SF
− Vacancy
−$7.2K −$1.80/SF
EGI
$64.7K $16.20/SF
− OpEx
−$24.3K −$6.07/SF
NOI
$40.4K $10.13/SF
Area
Hidalgo County, TX
Vacancy
10.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
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%
$808,580
Cap Rate 7%
$577,557
Cap Rate 9%
$449,211
Alternative Uses
Best Use
Retail
$770.2K
$673.9K – $898.6K
NOI $53,914 @ 7.0% cap · market cap 11.75%
Second Best
Mixed Use
$577.6K
$505.4K – $673.8K
NOI $40,429 @ 7.0% cap · market cap 8.81%
Theoretical Best
Hotel Hospitality
$3.01M
$2.63M – $3.51M
NOI $210,531 @ 7.0% cap · market cap 45.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
826
Businesses Nearby
Explore this area
Business Placement
Demographics for 78572, TX
78,280
Population
32,696
Households
2.4
Avg Household Size
36
Median Age
25%
College-Educated
75%
High-School Grad
53.7 sq mi
ZIP Area
1,458
Density / Sq Mi
$54,029
Median Household Income
$30,004
Median Earnings
$900
Median Rent
$121,900
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Retail space fronts six apartments, creating a combined commercial and residential configuration on a city road.
Where is this mixed-use property located?
The property is located at 1313 N Conway Avenue Mission, TX.
What is the asking price?
The asking price for this property is $459,000.
What are key features of this property?
This property features: 3,993‑square‑foot mixed‑use property with retail space and six apartments; Five 1‑bedroom, 1‑bathroom apartments plus one 2‑bedroom, 1‑bathroom unit; 23 parking spaces with a paved driveway
