H-E-B Shadow-Anchored Retail
For Sale
Contact for pricing
708 N Conway Ave, Mission, TX 78572
Retail center with value-add upside in high-growth corridor.
Property Size13,534 SF
Price / SF$236.44
Days on Market101
Property Features for 708 N Conway Ave
General Information
Standard status
Active
Size
13,534 SF
Class
B
Property subtype
Retail
Occupancy
100%
Lease Type
Gross
Investment Type
Value Add
Net Operating Income
$223,265
Building Details
Year Built
1997
Tenancy
Multi
Listing Agency:
ICO Real Estate Advisors, LLC
Listed By:
Alejandro Garza, MPSRE, CCIM · License #TREC # 0613334
Source:
Crexi
Added: May 23
Changed: Aug 21
Last Checked: Aug 29 at 4:26AM
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 ICO Real Estate Advisors, LLC
Investment Insights
Based on property information with market context.
This H-E-B shadow-anchored retail center is offered for sale. Located within a high-growth corridor and surrounded by national retailers, the property provides stable in-place cash flow. There is potential for value-add upside through the ability to increase below-market rates. The property is located in one of South Texas' fastest-growing markets. The property has a size of 13534 square feet.
Key Highlights
- H‑E‑B shadow‑anchored retail center
- Located within a high‑growth corridor
- Stable in‑place cash flow from day one
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
$182,738
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
5.71%
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%
$3,654,760
$3.7M
Cap Rate 7%
$2,610,543
$2.6M
Cap Rate 9%
$2,030,422
$2.0M
Market Conditions
NOI Build-Up for 13,534 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
$277.7K $20.52/SF
− Vacancy
−$16.7K −$1.23/SF
EGI
$261.1K $19.29/SF
− OpEx
−$78.3K −$5.79/SF
NOI
$182.7K $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%
$3,654,760
Cap Rate 7%
$2,610,543
Cap Rate 9%
$2,030,422
Alternative Uses
Best Use
Retail
$2.61M
$2.28M – $3.05M
NOI $182,738 @ 7.0% cap · market cap 5.71%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$10.19M
$8.92M – $11.89M
NOI $713,580 @ 7.0% cap · market cap 22.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
782
Businesses Nearby
Balanced
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 Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Shopping center - Retail center with value-add upside in high-growth corridor.
Where is this shopping center located?
The property is located at 708 N Conway Ave Mission, TX.
What is the asking price?
The asking price for this property is $3,200,000.
What are key features of this property?
This property features: H‑E‑B shadow‑anchored retail center; Located within a high‑growth corridor; Stable in‑place cash flow from day one
