Newer Retail Strip
1604 W Griffin Parkway Mission, TX 78572
For Sale
$380,000
Newly constructed retail center with two leased storefront units, each featuring a private restroom.
Property Size968 SF
Price / SF$392.56
Days on Market382
Property Features for 1604 W Griffin Parkway
General Information
- Standard status
- Active
- Size
- 968 SF
- Property subtype
- General Commercial
Building Details
- Year Built
- 2024
Listing Agency:
Delco Real Estate Service, Llc
(956) 678-8400
Listed By:
Jorge Rios
(956) 678-8400
Source:
Xome
Added: Jul 7, 2025
Changed: Jul 23
Last Checked: Jul 23 at 9:08AM
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 Delco Real Estate Service, Llc
Investment Insights
Based on property information with market context.
This newly constructed retail strip center was built in 2004 and features a contemporary style design. The center consists of two lease space units that are currently leased for retail business. Each unit is equipped with its own private restroom.
The property is located in a high-traffic area, supporting consistent customer exposure for the existing retail tenants.
For buyers seeking an income-producing retail asset with established tenancy, this 2-unit center offers a straightforward, tenant-ready layout centered on private in-unit restroom access.
The property is located in a high-traffic area, supporting consistent customer exposure for the existing retail tenants.
For buyers seeking an income-producing retail asset with established tenancy, this 2-unit center offers a straightforward, tenant-ready layout centered on private in-unit restroom access.
Key Highlights
- Newly constructed retail center built in 2024 with 2 leased storefront/lease space units
- Each unit includes a private restroom
- Currently leased retail business tenants in both units
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $19.9k | $20.52 |
| − Vacancy | −$1.2k | −$1.23 |
| EGI | $18.7k | $19.29 |
| − OpEx | −$5.6k | −$5.79 |
| NOI | $13.1k | $13.50 |
968 SF · lease $20.52/SF/yr · vacancy 6.00% · expense 30.00%
Alternative Uses
Best Use
Retail
$186.7K
$163.4K – $217.8K
NOI $13,070 @ 7.0% cap · market cap 3.44%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$729.1K
$638.0K – $850.6K
NOI $51,038 @ 7.0% cap · market cap 13.43%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Strip malls
FAQs
What type of property is this?
Strip mall - Newly constructed retail center with two leased storefront units, each featuring a private restroom.
Where is this strip mall located?
The property is located at 1604 W Griffin Parkway Mission, TX.
What is the asking price?
The asking price for this property is $380,000.
What are key features of this property?
This property features: Newly constructed retail center built in 2024 with 2 leased storefront/lease space units; Each unit includes a private restroom; Currently leased retail business tenants in both units
