New Fourplex Community in
For Sale
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2700 Mockingbird Road, Weslaco, TX 78596
New gated fourplex community with modern units, great investment opportunity.
Property Size4,502 SF
Price / SF$111.06
Days on Market690
Property Features for 2700 Mockingbird Road
General Information
Standard status
Active
Size
4,502 SF
Total Parking Spaces
8
Property subtype
Multifamily
Building Details
Year Built
2024
Buildings
2
Units
4
Listing Agency:
Imperio Real Estate LLC
Listed By:
Bryanna Hernandez · License #TREC # 0755547
(956) 803-0341
Source:
Crexi
Added: Oct 31, 2024
Changed: Sep 14
Last Checked: Sep 20 at 9:28AM
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 Imperio Real Estate LLC
Investment Insights
Based on property information with market context.
Pike Terrace is a new gated community located in Weslaco, at the corner of Pike Blvd and Milano Rd. This fourplex subdivision features a mixture of two and three bedroom units. The units include contemporary flooring, a kitchen bar, and cabinetry. Quartz countertops and energy-efficient LED lighting are installed throughout. The main bedroom includes a walk-in closet, and the main bath features frameless shower doors. All appliances are included. The property is located near schools, shopping centers, restaurants, and other amenities, making it suitable for investors. The property is currently under construction with an estimated completion date of Mid August 2025. Carports will be located in front. The property size is 4502 square feet.
Key Highlights
- Gated community in prime location (Pike Blvd & Milano Rd, Weslaco)
- Mixture of two and three bedroom units
- Modern finishes: quartz countertops, stylish kitchen bar, high‑end cabinetry
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
$39,370
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
7.87%
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%
$787,400
$787.4K
Cap Rate 7%
$562,429
$562.4K
Cap Rate 9%
$437,444
$437.4K
Market Conditions
NOI Build-Up for 4,502 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
$63.2K $14.04/SF
− Vacancy
−$7.0K −$1.55/SF
EGI
$56.2K $12.49/SF
− OpEx
−$16.9K −$3.75/SF
NOI
$39.4K $8.74/SF
Area
Hidalgo County, TX
Vacancy
11.02%
Lease Rate
$14.04 /SF/Yr
Expense Ratio
30.00%
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%
$787,400
Cap Rate 7%
$562,429
Cap Rate 9%
$437,444
Alternative Uses
Best Use
Multifamily LT 5
$562.4K
$492.1K – $656.2K
NOI $39,370 @ 7.0% cap · market cap 7.87%
Second Best
Apartment 5plus
$517.8K
$453.1K – $604.1K
NOI $36,248 @ 7.0% cap · market cap 7.25%
Theoretical Best
Hotel Hospitality
$3.39M
$2.97M – $3.96M
NOI $237,368 @ 7.0% cap · market cap 47.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
833
Businesses Nearby
Explore this area
Business Placement
Demographics for 78596, TX
37,329
Population
15,824
Households
2.4
Avg Household Size
36
Median Age
21%
College-Educated
75%
High-School Grad
40.1 sq mi
ZIP Area
931
Density / Sq Mi
$53,797
Median Household Income
$31,618
Median Earnings
$917
Median Rent
$92,800
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - New gated fourplex community with modern units, great investment opportunity.
Where is this quadplex located?
The property is located at 2700 Mockingbird Road Weslaco, TX.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Gated community in prime location (Pike Blvd & Milano Rd, Weslaco); Mixture of two and three bedroom units; Modern finishes: quartz countertops, stylish kitchen bar, high‑end cabinetry
