Equipped Laundromat Retail
For Sale
$379,900
1706 W Griffin Parkway, Mission, TX 78572
Operational laundry facility includes washers, dryers, central air, and paved parking.
Property Size1,170 SF
Price / SF$324.70
Days on Market234
Property Features for 1706 W Griffin Parkway
General Information
Standard status
Active
Size
1,170 SF
Property subtype
General Commercial
Taxes and HOA fees
Annual Taxes
$3,309
Amenities
Central Air
3
10 Parking Spaces. Paved Driveway.
Workshop. City Road.
Building Details
Year Built
2010
Listing Agency:
The Firm Real Estate Co. Llc
(956) 588-6969
Listed By:
Patricia Baez
(956) 588-6969
Source:
Xome
Added: Jan 9
Changed: Aug 30
Last Checked: Aug 30 at 7:06PM
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 The Firm Real Estate Co. Llc
Investment Insights
Based on property information with market context.
Located at 1706 W Griffin Parkway in Mission, Texas, this retail property is configured as an operating laundromat. The facility includes washers and dryers, central air, and a workshop. The building was constructed in 2010.
The property fronts a city road and includes a paved driveway with 10 parking spaces. Its Griffin Parkway location provides direct access to a commercial roadway, while the existing laundry equipment supports continued use in its current configuration.
The property fronts a city road and includes a paved driveway with 10 parking spaces. Its Griffin Parkway location provides direct access to a commercial roadway, while the existing laundry equipment supports continued use in its current configuration.
Key Highlights
- Operating laundromat with washers and dryers in place
- 1,170 property size
- Central air conditioning
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
$15,798
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
4.16%
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%
$315,960
$316.0K
Cap Rate 7%
$225,686
$225.7K
Cap Rate 9%
$175,533
$175.5K
Market Conditions
NOI Build-Up for 1,170 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
$24.0K $20.52/SF
− Vacancy
−$1.4K −$1.23/SF
EGI
$22.6K $19.29/SF
− OpEx
−$6.8K −$5.79/SF
NOI
$15.8K $13.50/SF
Area
Hidalgo County, TX
Vacancy
6.00%
Lease Rate
$20.52 /SF/Yr
Expense Ratio
30.00%
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%
$315,960
Cap Rate 7%
$225,686
Cap Rate 9%
$175,533
Alternative Uses
Best Use
Retail
$225.7K
$197.5K – $263.3K
NOI $15,798 @ 7.0% cap · market cap 4.16%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$881.3K
$771.1K – $1.03M
NOI $61,688 @ 7.0% cap · market cap 16.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
220
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 Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - Operational laundry facility includes washers, dryers, central air, and paved parking.
Where is this retail space located?
The property is located at 1706 W Griffin Parkway Mission, TX.
What is the asking price?
The asking price for this property is $379,900.
What are key features of this property?
This property features: Operating laundromat with washers and dryers in place; 1,170 property size; Central air conditioning
