Flex Building with Fenced
For Sale
$195,000
511 11th Street, Mission, TX 78572
Fenced yard with a manual gate supports office and inventory use in this approximately 1,500 SF building.
Property Size1,575 SF
Price / SF$123.81
Days on Market1055
Property Features for 511 11th Street
General Information
Standard status
Active
Size
1,575 SF
Property subtype
General Commercial
Site & Location
Road Access
Yes
Fenced Yard
Yes
Taxes and HOA fees
Annual Taxes
$1,769
Amenities
Central Air
3
Parking.
Off Street, On Street.
City Road.
Building Details
Year Built
2016
Listing Agency:
Nexthome Rgv Realty
(956) 628-4663
Listed By:
Ronnie Ontiveros · License #0528977,PersonLicenseNumber
(956) 283-6338
Source:
Xome
Added: Oct 17, 2023
Changed: Sep 1
Last Checked: Sep 4 at 2:49AM
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 Nexthome Rgv Realty
Investment Insights
Based on property information with market context.
This flex-style building is set up for office use and for storing inventory, with approximately 1,500 square feet of space. The property includes a fenced yard and a manual gate, creating a practical enclosed area for added storage or parking needs.
Located between Holland and Conway off of Tom Landry, the site is positioned in an area described as high-traffic, providing visibility and convenient access for business operations.
The layout supports combining a work space with space to keep inventory on-site, while the yard helps separate and organize outdoor storage or vehicle parking.
Located between Holland and Conway off of Tom Landry, the site is positioned in an area described as high-traffic, providing visibility and convenient access for business operations.
The layout supports combining a work space with space to keep inventory on-site, while the yard helps separate and organize outdoor storage or vehicle parking.
Key Highlights
- Approximately 1,500 SF building set up for office or store inventory
- Central air cooling
- Fenced yard with a manual gate for added utility
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
$8,288
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
4.25%
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%
$165,760
$165.8K
Cap Rate 7%
$118,400
$118.4K
Cap Rate 9%
$92,089
$92.1K
Market Conditions
NOI Build-Up for 1,575 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
$12.7K $8.04/SF
− Vacancy
−$823 −$0.52/SF
EGI
$11.8K $7.52/SF
− OpEx
−$3.6K −$2.26/SF
NOI
$8.3K $5.26/SF
Area
Hidalgo County, TX
Vacancy
6.50%
Lease Rate
$8.04 /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%
$165,760
Cap Rate 7%
$118,400
Cap Rate 9%
$92,089
Alternative Uses
Best Use
Office B
$376.4K
$329.3K – $439.1K
NOI $26,345 @ 7.0% cap · market cap 13.51%
Second Best
Industrial
$118.4K
$103.6K – $138.1K
NOI $8,288 @ 7.0% cap · market cap 4.25%
Theoretical Best
Hotel Hospitality
$1.19M
$1.04M – $1.38M
NOI $83,042 @ 7.0% cap · market cap 42.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
747
Businesses Nearby
Under-served
Demand for This Use
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 Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Fenced yard with a manual gate supports office and inventory use in this approximately 1,500 SF building.
Where is this flex space located?
The property is located at 511 11th Street Mission, TX.
What is the asking price?
The asking price for this property is $195,000.
What are key features of this property?
This property features: Approximately 1,500 SF building set up for office or store inventory; Central air cooling; Fenced yard with a manual gate for added utility
