Retail Space with Commercial
For Sale
Contact for pricing
1810 W Griffin Parkway # A, Mission, TX 78572
Two distinct interior spaces include a bar setup, restrooms, storage, and paved parking.
Property Size3,200 SF
Price / SF$406.25
Days on Market12
Property Features for 1810 W Griffin Parkway # A
General Information
Standard status
Active
Size
3,200 SF
Property subtype
Retail
Amenities
commercial kitchen area
bar setup
restrooms
storage
ample paved parking
Building Details
Buildings
1
Listing Agency:
Texas Star Realty, LLC
Listed By:
Mari Trevino
(956) 566-6079
Source:
Crexi
Added: Sep 16
Changed: Sep 24
Last Checked: Sep 26 at 5:30AM
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 Texas Star Realty, LLC
Investment Insights
Based on property information with market context.
This retail property contains approximately 3,200 square feet divided into two separate spaces. Its existing features include a commercial kitchen area, bar setup, restrooms, and storage, along with paved parking.
Located on W Griffin Parkway in Mission, the property is near established businesses, residential areas, and major roadways.
Located on W Griffin Parkway in Mission, the property is near established businesses, residential areas, and major roadways.
Key Highlights
- Approximately 3,200 sq ft of retail space
- Two separate interior spaces
- Commercial kitchen area and bar setup
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
$46,441
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
3.57%
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%
$928,820
$928.8K
Cap Rate 7%
$663,443
$663.4K
Cap Rate 9%
$516,011
$516.0K
Market Conditions
NOI Build-Up for 3,200 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
$65.7K $20.52/SF
− Vacancy
−$3.7K −$1.17/SF
EGI
$61.9K $19.35/SF
− OpEx
−$15.5K −$4.84/SF
NOI
$46.4K $14.51/SF
Area
Hidalgo County, TX
Vacancy
5.70%
Lease Rate
$20.52 /SF/Yr
Expense Ratio
25.00%
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%
$928,820
Cap Rate 7%
$663,443
Cap Rate 9%
$516,011
Alternative Uses
Best Use
Specialty Retail
$663.4K
$580.5K – $774.0K
NOI $46,441 @ 7.0% cap · market cap 3.57%
Second Best
Retail
$617.2K
$540.1K – $720.1K
NOI $43,207 @ 7.0% cap · market cap 3.32%
Theoretical Best
Hotel Hospitality
$2.41M
$2.11M – $2.81M
NOI $168,720 @ 7.0% cap · market cap 12.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
291
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Retail space - Two distinct interior spaces include a bar setup, restrooms, storage, and paved parking.
Where is this retail space located?
The property is located at 1810 W Griffin Parkway # A Mission, TX.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Approximately 3,200 sq ft of retail space; Two separate interior spaces; Commercial kitchen area and bar setup
