Freestanding Flex
For Sale
$389,000
807 W Palma Vista Drive, Mission, TX 78572
One-story commercial building with retail, storage, parking, and frontage-road access for multiple business formats.
Property Size5,012 SF
Price / SF$77.61
Days on Market140
Property Features for 807 W Palma Vista Drive
General Information
Standard status
Active
Size
5,012 SF
Property subtype
General Commercial
Taxes and HOA fees
Annual Taxes
$8,173
Amenities
Electric
18 Parking Spaces. Paved Driveway.
Interstate Service Road.
Building Details
Year Built
2009
Listing Agency:
(956) 821-6574
Listed By:
Encore Fine Properties
(956) 821-6574
Source:
Xome
Added: Apr 13
Changed: Aug 29
Last Checked: Aug 29 at 1:59PM
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 Encore Fine Properties
Investment Insights
Based on property information with market context.
Built in 2009, this freestanding one-story flex property contains approximately 5,012 square feet on a 0.28-acre site. The building previously accommodated restaurant and retail operations and includes electric service, paved driveway access, and 18 parking spaces. The existing configuration can support retail, office, restaurant, showroom, or warehouse uses, subject to applicable requirements.
The property is located at 807 W Palma Vista Drive in Mission, Texas, along the interstate service road near I-2 / Expressway 83. Its direct frontage-road position provides convenient access to the surrounding roadway network. The site may suit an owner-user or an investor pursuing renovation, repositioning, or redevelopment.
The property is located at 807 W Palma Vista Drive in Mission, Texas, along the interstate service road near I-2 / Expressway 83. Its direct frontage-road position provides convenient access to the surrounding roadway network. The site may suit an owner-user or an investor pursuing renovation, repositioning, or redevelopment.
Key Highlights
- Approximately 5,012 SF freestanding flex property
- 0.28‑acre site with 18 parking spaces
- Located on the interstate service road near I‑2 / Expressway 83
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
$32,026
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
8.23%
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%
$640,520
$640.5K
Cap Rate 7%
$457,514
$457.5K
Cap Rate 9%
$355,844
$355.8K
Market Conditions
NOI Build-Up for 5,012 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
$40.3K $8.04/SF
− Vacancy
−$2.6K −$0.52/SF
EGI
$37.7K $7.52/SF
− OpEx
−$5.7K −$1.13/SF
NOI
$32.0K $6.39/SF
Area
Hidalgo County, TX
Vacancy
6.50%
Lease Rate
$8.04 /SF/Yr
Expense Ratio
15.00%
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%
$640,520
Cap Rate 7%
$457,514
Cap Rate 9%
$355,844
Alternative Uses
Best Use
Retail
$966.8K
$845.9K – $1.13M
NOI $67,673 @ 7.0% cap · market cap 17.40%
Second Best
Warehouse
$457.5K
$400.3K – $533.8K
NOI $32,026 @ 7.0% cap · market cap 8.23%
Theoretical Best
Hotel Hospitality
$3.78M
$3.30M – $4.40M
NOI $264,258 @ 7.0% cap · market cap 67.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
433
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 Industrial 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?
Flex space - One-story commercial building with retail, storage, parking, and frontage-road access for multiple business formats.
Where is this flex space located?
The property is located at 807 W Palma Vista Drive Mission, TX.
What is the asking price?
The asking price for this property is $389,000.
What are key features of this property?
This property features: Approximately 5,012 SF freestanding flex property; 0.28‑acre site with 18 parking spaces; Located on the interstate service road near I‑2 / Expressway 83
