Standalone Drive-Through
For Sale
$1,750,000
2430 Griffin Parkway, Mission, TX 78572
Second-generation restaurant with central air, a paved driveway, and dedicated parking.
Property Size3,585 SF
Price / SF$488.15
Days on Market11
Property Features for 2430 Griffin Parkway
General Information
Standard status
Active
Size
3,585 SF
Property subtype
General Commercial
Additional Details
Drive-Thru
Yes
Taxes and HOA fees
Annual Taxes
$19,916
Amenities
Central Air
59 Parking Spaces. Paved Driveway.
Building Details
Year Built
2004
Listing Agency:
(956) 448-4930
Listed By:
Coldwell Banker La Mansion
(956) 448-4930
Source:
Xome
Added: Aug 9
Changed: Aug 18
Last Checked: Aug 18 at 4:48AM
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 Coldwell Banker La Mansion
Investment Insights
Based on property information with market context.
This standalone restaurant contains 3,585 square feet and was built in 2004. The second-generation facility includes a drive-through, central air, a paved driveway, and 59 parking spaces. Its existing restaurant configuration supports continued food-service use without relying on additional property improvements stated in the available information.
Located at 2430 Griffin Parkway in Mission, Texas, the property sits along a commuter corridor between Mission and McAllen. The Griffin Parkway address provides access to the surrounding Mission area and places the restaurant within an established populated setting.
Located at 2430 Griffin Parkway in Mission, Texas, the property sits along a commuter corridor between Mission and McAllen. The Griffin Parkway address provides access to the surrounding Mission area and places the restaurant within an established populated setting.
Key Highlights
- 3,585‑square‑foot standalone restaurant with drive‑through
- 59 parking spaces
- Built in 2004
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
$52,028
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
2.97%
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%
$1,040,560
$1.0M
Cap Rate 7%
$743,257
$743.3K
Cap Rate 9%
$578,089
$578.1K
Market Conditions
NOI Build-Up for 3,585 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
$73.6K $20.52/SF
− Vacancy
−$4.2K −$1.17/SF
EGI
$69.4K $19.35/SF
− OpEx
−$17.3K −$4.84/SF
NOI
$52.0K $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%
$1,040,560
Cap Rate 7%
$743,257
Cap Rate 9%
$578,089
Alternative Uses
Best Use
Specialty Retail
$743.3K
$650.4K – $867.1K
NOI $52,028 @ 7.0% cap · market cap 2.97%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$2.70M
$2.36M – $3.15M
NOI $189,019 @ 7.0% cap · market cap 10.80%
Zoning and permitted uses should be independently verified with authorities.
Property 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
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Drive through restaurant - Second-generation restaurant with central air, a paved driveway, and dedicated parking.
Where is this drive through restaurant located?
The property is located at 2430 Griffin Parkway Mission, TX.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: 3,585‑square‑foot standalone restaurant with drive‑through; 59 parking spaces; Built in 2004
