Building Details

Year Built 1990

Buildings 1

Construction cement block

Listing Agency: RE/MAX Hacienda H***@gmail.com Show Phone

Listed By: Hector M. Guerra Show Phone

Source: Exprealty

Added: Dec 19, 2025 Changed: Sep 12 Last Checked: Oct 15 at 4:56AM

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Investment Insights

Based on property information with market context.

This 1,816-square-foot commercial building in Rio Hondo was built in 1990 with cement block construction. The property is currently configured for bakery and convenience-store use, with bakery stoves and ovens fueled by natural gas available separately from the real estate.

The building occupies a 50' x 151' corner lot. Its location is four blocks from Rio Hondo’s Historic Bridge, providing a recognizable point of reference within the community. The property is scheduled to remain open for walk-throughs through December 31.

Key Highlights

• 1,816‑square‑foot commercial building
• Built in 1990 with cement block construction
• 50' x 151' corner lot

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$8,496

Cap Rate

4.75%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$169,920 $169.9K

Cap Rate 7%

$121,371 $121.4K

Cap Rate 9%

$94,400 $94.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,816 SF

Gross rent

$12.9K $7.08/SF

− Vacancy

−$720 −$0.40/SF

EGI

$12.1K $6.68/SF

− OpEx

−$3.6K −$2.01/SF

NOI

$8.5K $4.68/SF

Area

Cameron County, TX

Vacancy

5.60%

Lease Rate

$7.08 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$169,920

Cap Rate 7%

$121,371

Cap Rate 9%

$94,400

Alternative Uses

Best Use

Specialty Retail

$264.5K

$231.4K – $308.6K (±1% cap)

NOI $18,514 @ 7.0% cap · market cap 10.34%

Second Best

Retail

$246.9K

$216.0K – $288.0K (±1% cap)

NOI $17,280 @ 7.0% cap · market cap 9.65%

Theoretical Best

Healthcare Medical

$312.7K

$273.6K – $364.8K (±1% cap)

NOI $21,888 @ 7.0% cap · market cap 12.23%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Grocery and convenience stores

Suggested Use

Top Pick HVAC Service Auto Parts Store Building Supply Furniture & Home Goods Grocery & Convenience Store Garden Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

132

Businesses Nearby

16k

Monthly Visits Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 86% Dining 14%

Dollar General Shops & Services

10,185 visits/mo 0.3 miles

O'Reilly Auto Parts Shops & Services

3,980 visits/mo 0.2 miles

SUBWAY Dining

2,235 visits/mo 0.3 miles

Demographics for 78583, TX

5,869

Population

2,781

Households

2.1

Avg Household Size

41

Median Age

15%

College-Educated

75%

High-School Grad

93.1 sq mi

ZIP Area

63

Density / Sq Mi

$61,315

Median Household Income

$35,947

Median Earnings

$771

Median Rent

$147,500

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

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Frequently Asked Questions

What type of property is this?

Grocery and convenience store - Block construction supports an existing bakery and convenience-store operation in Rio Hondo.

Where is this grocery and convenience store located?

The property is located at 229 W Colorado St Rio Hondo, TX.

What is the asking price?

The asking price for this property is $179,000.

What are key features of this property?

This property features: 1,816‑square‑foot commercial building; Built in 1990 with cement block construction; 50' x 151' corner lot