Newer Income-Producing Quadplex For
For Sale
Contact for pricing
706 Thompson Road, Mission, TX 78573
Four-unit property with modern amenities and excellent rental history.
Property Size3,266 SF
Price / SF$130.13
Days on Market898
Property Features for 706 Thompson Road
General Information
Standard status
Active
Size
3,266 SF
Total Parking Spaces
8
Property subtype
Multifamily
Building Details
Year Built
2021
Buildings
2
Units
4
Listing Agency:
Bryan Bjerke - Office
Listed By:
Gilberto Gutierrez
Source:
Crexi
Added: Mar 14, 2024
Changed: Aug 15
Last Checked: Aug 25 at 12:29PM
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 Bryan Bjerke - Office
Investment Insights
Based on property information with market context.
This 3,266 square foot income-producing property is a four-year-old quadplex located in front of Escobar Rios Elementary off Trosper Rd. in Mission. The property features one-year-old shingles and paint. Each of the four units includes two bedrooms, two bathrooms, and a two-car carport. Each unit is equipped with a stove, refrigerator, micro hood, and a washer/dryer laundry center. The apartments feature tile flooring throughout, granite kitchen countertops, and granite in the family bathrooms. Additional features include cable readiness, a security system, ceiling fans, and a linen closet. The closets in both bedrooms have two rods for hanging clothes. A sprinkler system irrigates the carpet grass throughout the property. The back door of each unit leads to a private backyard. The property has an excellent rental history and is fully rented. It is located close to shopping centers in Palmhurst and Mission. The entire fence has been painted.
Key Highlights
- Income‑producing property with excellent rental history.
- Fully rented, ensuring immediate cash flow.
- Relatively new construction (built in 2021) with recent updates (1‑year‑old shingles and paint).
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
$28,561
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
6.72%
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%
$571,220
$571.2K
Cap Rate 7%
$408,014
$408.0K
Cap Rate 9%
$317,344
$317.3K
Market Conditions
NOI Build-Up for 3,266 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
$45.9K $14.04/SF
− Vacancy
−$5.1K −$1.55/SF
EGI
$40.8K $12.49/SF
− OpEx
−$12.2K −$3.75/SF
NOI
$28.6K $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%
$571,220
Cap Rate 7%
$408,014
Cap Rate 9%
$317,344
Alternative Uses
Best Use
Multifamily LT 5
$408.0K
$357.0K – $476.0K
NOI $28,561 @ 7.0% cap · market cap 6.72%
Second Best
Apartment 5plus
$375.7K
$328.7K – $438.3K
NOI $26,296 @ 7.0% cap · market cap 6.19%
Theoretical Best
Hotel Hospitality
$2.46M
$2.15M – $2.87M
NOI $172,200 @ 7.0% cap · market cap 40.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
97
Businesses Nearby
Explore this area
Business Placement
Demographics for 78573, TX
42,229
Population
13,339
Households
3.2
Avg Household Size
29
Median Age
15%
College-Educated
63%
High-School Grad
36.7 sq mi
ZIP Area
1,151
Density / Sq Mi
$51,185
Median Household Income
$27,730
Median Earnings
$909
Median Rent
$154,800
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit property with modern amenities and excellent rental history.
Where is this quadplex located?
The property is located at 706 Thompson Road Mission, TX.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Income‑producing property with excellent rental history.; Fully rented, ensuring immediate cash flow.; Relatively new construction (built in 2021) with recent updates (1‑year‑old shingles and paint).
