Drive-Through Restaurant on Corner
For Sale
$420,000
6604 La Homa Road, Mission, TX 78574
Established snack-service property with central air, paved access, and covered parking.
Property Size1,488 SF
Lot Size0.50 Acres
Price / SF$282.26
Days on Market16
Property Features for 6604 La Homa Road
General Information
Standard status
Active
Size
1,488 SF
Lot size
0.50 Acres
Property subtype
General Commercial
Additional Details
Business Included
Yes
Drive-Thru
Yes
Taxes and HOA fees
Annual Taxes
$5,267
Amenities
Central Air
12 Parking Spaces. Paved Driveway, Covered.
Extra Storage. Paved Road.
Building Details
Year Built
2017
Listing Agency:
Re/Max Platinum
(956) 588-8365
Listed By:
Greg Villarreal
(956) 588-8365
Source:
Xome
Added: Jul 28
Changed: Aug 11
Last Checked: Aug 11 at 5:43AM
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 Re/Max Platinum
Investment Insights
Based on property information with market context.
This 1,488-square-foot drive-through restaurant property at 6604 La Homa Road includes central air, a paved driveway, covered parking, and extra storage. The site is positioned on a half-acre corner lot and includes 12 parking spaces, supporting customer access for the existing raspa-snack operation.
Built in 2017, the property is located in Mission, Texas, on a paved road with drive-through functionality. The site may accommodate additional food-service concepts such as a taqueria, restaurant, or coffee shop, subject to applicable zoning. The separate taqueria structure on the south side does not convey.
Built in 2017, the property is located in Mission, Texas, on a paved road with drive-through functionality. The site may accommodate additional food-service concepts such as a taqueria, restaurant, or coffee shop, subject to applicable zoning. The separate taqueria structure on the south side does not convey.
Key Highlights
- 1,488‑square‑foot drive‑through restaurant property
- Half‑acre corner lot at 6604 La Homa Road
- 12 parking spaces with paved driveway and covered parking
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
$21,595
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
5.14%
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%
$431,900
$431.9K
Cap Rate 7%
$308,500
$308.5K
Cap Rate 9%
$239,944
$239.9K
Market Conditions
NOI Build-Up for 1,488 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
$30.5K $20.52/SF
− Vacancy
−$1.7K −$1.17/SF
EGI
$28.8K $19.35/SF
− OpEx
−$7.2K −$4.84/SF
NOI
$21.6K $14.51/SF
Area
Hidalgo County, TX
Vacancy
5.70%
Lease Rate
$20.52 /SF/Yr
Expense Ratio
25.00%
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%
$431,900
Cap Rate 7%
$308,500
Cap Rate 9%
$239,944
Alternative Uses
Best Use
Specialty Retail
$308.5K
$269.9K – $359.9K
NOI $21,595 @ 7.0% cap · market cap 5.14%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$1.12M
$980.7K – $1.31M
NOI $78,455 @ 7.0% cap · market cap 18.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
121
Businesses Nearby
Explore this area
Business Placement
Demographics for 78574, TX
63,627
Population
18,309
Households
3.5
Avg Household Size
28
Median Age
16%
College-Educated
58%
High-School Grad
51.9 sq mi
ZIP Area
1,226
Density / Sq Mi
$52,536
Median Household Income
$28,029
Median Earnings
$807
Median Rent
$119,000
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Drive through restaurant - Established snack-service property with central air, paved access, and covered parking.
Where is this drive through restaurant located?
The property is located at 6604 La Homa Road Mission, TX.
What is the asking price?
The asking price for this property is $420,000.
What are key features of this property?
This property features: 1,488‑square‑foot drive‑through restaurant property; Half‑acre corner lot at 6604 La Homa Road; 12 parking spaces with paved driveway and covered parking
