Retail and Office Building with
For Sale
Contact for pricing
3222 West Expressway 83, Weslaco, TX 78596
Two-story retail/office building plus separate warehouse with large overhead doors on a corner lot near Expressway 83.
Property Size12,754 SF
Lot Size6.75 Acres
Price / SF$184.26
Days on Market67
Property Features for 3222 West Expressway 83
General Information
Standard status
Active
Size
12,754 SF
Lot size
6.75 Acres
Property subtype
Retail, Land
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
1980
Stories
1
Units
1
Listing Agency:
First American Realty Company
Listed By:
Charles Marina
(956) 682-3000
Source:
Crexi
Added: Jul 2
Changed: Aug 26
Last Checked: Aug 31 at 12:42PM
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 First American Realty Company
Investment Insights
Based on property information with market context.
This property features a two-story building totaling approximately 9,504 square feet, configured with a large open ground-floor area and several offices, bathrooms, and a high overhead door. A separate warehouse on-site provides approximately 3,250 square feet with large overhead doors and a bathroom.
Located at the corner of north Midway Road and Expressway 83 in Weslaco, Texas, the site benefits from high-traffic visibility and accessibility from the expressway.
The overall site area is approximately 6.75 acres, offering flexibility for commercial use with both a retail/office structure and an independent warehouse component.
Located at the corner of north Midway Road and Expressway 83 in Weslaco, Texas, the site benefits from high-traffic visibility and accessibility from the expressway.
The overall site area is approximately 6.75 acres, offering flexibility for commercial use with both a retail/office structure and an independent warehouse component.
Key Highlights
- 6.75‑acre corner property at the intersection of N Midway Rd & Expressway 83 with high traffic exposure
- Two‑story building with approximately 9,504 SF for retail or office, including a large open ground floor area and several offices
- Includes multiple bathrooms and a high overhead door in the 9,504 SF two‑story retail/office building
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
$172,207
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
7.33%
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%
$3,444,140
$3.4M
Cap Rate 7%
$2,460,100
$2.5M
Cap Rate 9%
$1,913,411
$1.9M
Market Conditions
NOI Build-Up for 12,754 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
$261.7K $20.52/SF
− Vacancy
−$15.7K −$1.23/SF
EGI
$246.0K $19.29/SF
− OpEx
−$73.8K −$5.79/SF
NOI
$172.2K $13.50/SF
Area
Hidalgo County, TX
Vacancy
6.00%
Lease Rate
$20.52 /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%
$3,444,140
Cap Rate 7%
$2,460,100
Cap Rate 9%
$1,913,411
Alternative Uses
Best Use
Retail
$2.46M
$2.15M – $2.87M
NOI $172,207 @ 7.0% cap · market cap 7.33%
Second Best
Warehouse
$1.16M
$1.02M – $1.36M
NOI $81,495 @ 7.0% cap · market cap 3.47%
Theoretical Best
Hotel Hospitality
$9.61M
$8.41M – $11.21M
NOI $672,455 @ 7.0% cap · market cap 28.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
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 Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Two-story retail/office building plus separate warehouse with large overhead doors on a corner lot near Expressway 83.
Where is this retail space located?
The property is located at 3222 West Expressway 83 Weslaco, TX.
What is the asking price?
The asking price for this property is $2,350,000.
What are key features of this property?
This property features: 6.75‑acre corner property at the intersection of N Midway Rd & Expressway 83 with high traffic exposure; Two‑story building with approximately 9,504 SF for retail or office, including a large open ground floor area and several offices; Includes multiple bathrooms and a high overhead door in the 9,504 SF two‑story retail/office building
