Freestanding Flex Space
For Sale
$455,000
1717 La Homa Road, Mission, TX 78574
COMMERCIAL - Mission, TX
Property Size4,107 SF
Lot Size0.46 Acres
Price / SF$110.79
Days on Market125
Property Features for 1717 La Homa Road
General Information
Property type
Commercial Sale
Property subtype
Other
Parking
16
Appliances
Electric Water Heater
Subdivision
Frontier
Directions
From Expressway 83 and La HOma, go North on la Homa, the property will be located on the West side of the Street right before you hit Mile 2
Standard status
Active
APN
F749000000000300
Size
4,107 SF
Lot size
0.46 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
8446
Utilities
Heating system
Electric (Heating), Central
Cooling system
Electric, Central Air
Building Details
Year built
2006
Floors in Building
1
Building materials
Stucco
Roof type
Metal, Flat
Listing Agency:
RE/MAX elite · RE/MAX International
(956) 583-2100
Listed By:
Maria (Lila) Garcia · License #626016
(956) 227-6215
Added: Apr 29
Changed: Aug 13
Last Checked: Aug 31 at 9:06PM
MLS# 483879
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.
Investment Insights
Based on property information with market context.
Freestanding flex space built in 2006 on a 0.455-acre site. The property includes two separate units that are currently leased, providing multiple spaces within one building footprint. There is also a 3,000 SF warehouse on the back that can be leased.
The site totals 19,821 SF, and the overall property size is listed at 4,107 SF. Exterior materials include stucco, and the roof is described as metal and flat. Mechanical systems include electric heating and central heating, along with central air and electric cooling. An electric water heater is also included.
With multiple spaces under one ownership, this property can support tenants who need separate unit configurations and additional warehouse capability at the rear.
The site totals 19,821 SF, and the overall property size is listed at 4,107 SF. Exterior materials include stucco, and the roof is described as metal and flat. Mechanical systems include electric heating and central heating, along with central air and electric cooling. An electric water heater is also included.
With multiple spaces under one ownership, this property can support tenants who need separate unit configurations and additional warehouse capability at the rear.
Key Highlights
- 0.455‑acre site totaling 19,821 SF
- Two separate units currently leased
- 3,000 SF warehouse space on the back can be leased
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
$26,243
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
5.77%
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%
$524,860
$524.9K
Cap Rate 7%
$374,900
$374.9K
Cap Rate 9%
$291,589
$291.6K
Market Conditions
NOI Build-Up for 4,107 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
$33.0K $8.04/SF
− Vacancy
−$2.1K −$0.52/SF
EGI
$30.9K $7.52/SF
− OpEx
−$4.6K −$1.13/SF
NOI
$26.2K $6.39/SF
Area
Hidalgo County, TX
Vacancy
6.50%
Lease Rate
$8.04 /SF/Yr
Expense Ratio
15.00%
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%
$524,860
Cap Rate 7%
$374,900
Cap Rate 9%
$291,589
Alternative Uses
Best Use
Warehouse
$374.9K
$328.0K – $437.4K
NOI $26,243 @ 7.0% cap · market cap 5.77%
Second Best
Industrial
$308.7K
$270.2K – $360.2K
NOI $21,612 @ 7.0% cap · market cap 4.75%
Theoretical Best
Hotel Hospitality
$3.09M
$2.71M – $3.61M
NOI $216,542 @ 7.0% cap · market cap 47.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
175
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 78574, TX
63,627
Population
18,309
Households
3.5
Avg Household Size
28
Median Age
16%
College-Educated
58%
High-School Grad
51.9 sq mi
ZIP Area
1,226
Density / Sq Mi
$52,536
Median Household Income
$28,029
Median Earnings
$807
Median Rent
$119,000
Median Home Value
Market
Vacancy Rate% for Industrial 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?
Flex space - Freestanding flex space on a 0.455-acre site with two separately leased units plus a 3,000 SF warehouse on the back.
Where is this flex space located?
The property is located at 1717 La Homa Road Mission, TX.
What is the asking price?
The asking price for this property is $455,000.
What are key features of this property?
This property features: 0.455‑acre site totaling 19,821 SF; Two separate units currently leased; 3,000 SF warehouse space on the back can be leased
