Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Mixed-Use Property on Highway 83 Title is generated by Realmo AI

    6324 E US Highway 83 Highway, Rio Grande City, TX 78582

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Commercial, residential, and income property in Rio Grande City.

    Type:Office
    Property size:
    5,086 SF
    Lot size:
    1.34 Acres
    Price / SF:
    $122/SF
    Added:
    May 29, 2024
    Days on Market:
    741
    Last Refresh:
    May 12 at 9:04 pm

    Property Features for 6324 E US Highway 83 Highway

    General Information

    Standard status
    Active
    Size
    5,086 SF
    Lot size
    1.34 Acres
    Property subtype
    Office

    Building Details

    Year Built
    2001

    We can help!

    Listing Contact
    Grizelda "Grace" Montalvo

    Listing agent Grizelda "Grace" Montalvo License #TREC # 582331

    Listing office Montalvo & Associates

    Listing date May 29, 2024

    Source Crexi

    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 Montalvo & Associates

    HighLights

    • Prime location on US Highway 83 in a fast‑growing area.
    • Income‑producing property with a car sales lot, residential home, and duplex.
    • Large commercial area with 7,000+ sq ft steel canopy and 800 sq ft office.
    • Spacious 2,133 sq ft two‑story home with 5 bedrooms and 4 baths.
    • Duplex with two 1‑bed, 1‑bath units providing rental income.
    • Fully fenced 1.34‑acre property with multiple water and electric meters.

    Overview

    This mixed-use property is located in Rio Grande City, along US Highway 83, which connects the Rio Grande Valley with Laredo. The property spans 1.34 acres and includes commercial, residential, and income-producing components. The commercial area is currently utilized as a car sales lot, accommodating over 40 vehicles. It features over 7,000 square feet of steel canopy and an 800-square-foot office. The residential component is a two-story stucco home built in 2012, totaling 2,133 square feet. The first floor includes 3 bedrooms and 2 bathrooms, while the second story has 2 bedrooms and 2 bathrooms, for a total of 5 bedrooms and 4 bathrooms. Additionally, there is an income property consisting of a duplex, with each unit featuring 1 bedroom and 1 bathroom, totaling 820 square feet. The property is fully fenced and equipped with 2 water meters and 3 electric meters. This property offers the opportunity to operate a business, reside on-site, and generate rental income.
    Location Intelligence

    Current Use by Public Records

    Self service car ...

    Map

    City
    Rio Grande City
    County
    Starr
    State
    Texas
    Longitude
    -98.695
    Latitude
    26.5735

    Nearby Similar for Sale

    • $825,000
      8,300 SF

      Medical Office and Retail Building

      Multi-office building with flexible space for medical or retail uses on prime highway-adjacent property.
      5448 E US Highway 83, Rio Grande City, TX 78582
      View Details
    • $2,300,000
      5,500 SF

      Commercial Property in Rio Grande

      Freestanding commercial property with income-generating suites and gas/convenience store.
      900 E 2nd Street, Rio Grande City, TX 78582
      View Details
    • $500,000
      4,755 SF

      Rio Grande City Commercial Property

      Versatile commercial property with retail, office, and warehouse space.
      401 W Main Street, Rio Grande City, TX 78582
      View Details
    • $780,000
      5,643 SF

      Rio Grande City Automotive Business

      Specialized automotive repair business with multiple bays and office space.
      3506 W US Highway 83, Rio Grande City, TX 78582
      View Details
    • $236,250
      3,150 SF

      Prime Rio Grande City Office

      Office space in a prime location with flexible suites.
      5346 E US Hwy 83, Rio Grande City, TX 78582
      View Details
    • $1,700,000
      23,900 SF

      Rio Grande City Commercial Property

      Commercial property on 1.5 acres with highway frontage.
      1926 W US Highway 83, Rio Grande City, TX 78582
      View Details
    • $325,000
      2,028 SF

      Downtown Rio Grande City Commercial

      Prime commercial property in historic downtown Rio Grande City.
      107 N Flores Street, Rio Grande City, TX 78582
      View Details
    • $472,500
      6,300 SF

      Rio Grande City Commercial Property

      Income-producing commercial property in Rio Grande City, Texas.
      5344 E US Highway 83, Rio Grande City, TX 78582
      View Details
    • $787,000
      4,807 SF

      Downtown Rio Grande City Plaza

      Commercial plaza with residential unit in Rio Grande City.
      605 W Main Street, Rio Grande City, TX 78582
      View Details
    • $3,360,000
      40,432 SF

      Multifamily Investment in Rio Grande

      40-unit multifamily property in Rio Grande City, Texas.
      1214 Cornerstone Loop, Rio Grande City, TX 78582
      View Details
    • $449,500
      4,650 SF

      Fully Occupied Multifamily Investment Property

      Five-unit multifamily property in Rio Grande City, fully leased.
      302 Papalote Road, Rio Grande City, TX 78582
      View Details
    • $495,000
      4,800 SF

      Fully Leased Investment Property

      Fully leased multi-family property near schools, shopping, and dining.
      1204 Cornerstone Loop, Rio Grande City, TX 78582
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Commercial, residential, and income property in Rio Grande City.
    Where is this mixed-use property located?
    The property is located at 6324 E US Highway 83 Highway Rio Grande City, TX.
    What is the asking price?
    The asking price for this property is $625,000.
    What are key features of this property?
    This property features: Prime location on US Highway 83 in a fast‑growing area.; Income‑producing property with a car sales lot, residential home, and duplex.; Large commercial area with **7,000+ sq ft steel canopy and 800 sq ft office.**
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Grizelda "Grace" Montalvo
    Real Estate License ID: TREC # 582331
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    6324 E US Highway 83 Highway, Rio Grande City, TX 78582
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!