Retail Shopping Center
2500 North Conway Avenue Mission, TX 78574
2500 North Conway Avenue, Mission, TX, 78574
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For Sale
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Located on North Conway Avenue, with in-place rents below market and an HEB anchor nearby supporting steady demand.
Property Size12,120 SF
Price / SF$218.95
Days on Market58
Property Features for 2500 North Conway Avenue
General Information
- Standard status
- Active
- Size
- 12,120 SF
- Property subtype
- Retail, Office
Building Details
- Year Built
- 1998
Listing agency
Marcus & Millichap - Houston
Listed by
Gus Lagos · License #TX 419197
Source
Crexi
Added: May 27 Updated: Jul 22 at 12:20PM Checked: Jul 22 at 12:20PM
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 Marcus & Millichap - Houston
Investment Insights
Based on property information with market context.
This retail shopping center offers a mix of retail and office-oriented space, with the investment case centered on below-market in-place rents. As leases roll, the property presents an opportunity to adjust rents and drive income growth.
The asset is positioned on North Conway Avenue, identified as one of Mission’s most heavily trafficked thoroughfares, providing visibility and access. An HEB anchor is located approximately half a mile away, and the corridor is described as home to a dense cluster of national tenants.
Within a 5-mile radius, the area is reported to have more than 195,000 residents, with an average annual population growth rate of about 4.4% over the next five years. Local momentum cited includes major economic development and retail redevelopment activity in the Mission and Rio Grande Valley area.
The asset is positioned on North Conway Avenue, identified as one of Mission’s most heavily trafficked thoroughfares, providing visibility and access. An HEB anchor is located approximately half a mile away, and the corridor is described as home to a dense cluster of national tenants.
Within a 5-mile radius, the area is reported to have more than 195,000 residents, with an average annual population growth rate of about 4.4% over the next five years. Local momentum cited includes major economic development and retail redevelopment activity in the Mission and Rio Grande Valley area.
Key Highlights
- Built in 1998
- Located on North Conway Avenue, a high‑traffic corridor in Mission
- In‑place rents are below market, offering a value‑add path as leases roll
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $372.3k | $30.72 |
| − Vacancy | −$102.0k | −$8.42 |
| EGI | $270.3k | $22.30 |
| − OpEx | −$67.6k | −$5.58 |
| NOI | $202.7k | $16.73 |
12,120 SF · lease $30.72/SF/yr · vacancy 27.40% · expense 25.00%
Alternative Uses
Best Use
Office B
$2.90M
$2.53M – $3.38M
NOI $202,732 @ 7.0% cap · market cap 7.64%
Second Best
Healthcare Medical
$2.56M
$2.24M – $2.99M
NOI $179,331 @ 7.0% cap · market cap 6.76%
Theoretical Best
Hotel Hospitality
$9.13M
$7.99M – $10.65M
NOI $639,027 @ 7.0% cap · market cap 24.08%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
H&R Block
Tax Preparation
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FAQs
What type of property is this?
Shopping center - Located on North Conway Avenue, with in-place rents below market and an HEB anchor nearby supporting steady demand.
Where is this shopping center located?
The property is located at 2500 North Conway Avenue Mission, TX.
What is the asking price?
The asking price for this property is $2,653,627.
What are key features of this property?
This property features: Built in 1998; Located on North Conway Avenue, a high‑traffic corridor in Mission; In‑place rents are below market, offering a value‑add path as leases roll
