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    24529 Fm 506 La Feria, TX 78559

    For Sale
    $685,000

    Prime Texas Investment Opportunity: Office & Apartments

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    362
    This exceptional investment property in La Feria, Texas, presents a unique opportunity to acquire a mixed-use complex. Located at 24529 FM 506, zip code 78559, the property boasts a substantial 2,800 square foot, three-bedroom, two-and-a-half-bathroom main house. A separate building, measuring 54 x 64 feet, houses six one-bedroom apartments, each generously sized at 756 square feet and featuring front and back balconies. The apartments offer views in both northerly and southerly directions. Adding to the property's versatility are ten RV pads situated on the northern two acres, with significant potential for expansion. Constructed in 1957, this property is priced at $685,000 and presents a compelling investment opportunity in the thriving Cameron County market. Importantly, this property is located in a non-flood zone, offering peace of mind to investors. The property's combination of residential and commercial space makes it an attractive option for a variety of investment strategies. The existing infrastructure provides a solid foundation for immediate income generation and future development. This is a rare chance to acquire a well-positioned, multi-faceted property in a growing Texas market.

    Property Features for 24529 Fm 506

    General Information

    Property type
    Office Properties & Spaces

    Building Details

    Year Built
    1957

    HighLights

    • $685,000 asking price.
    • Office property.
    • 1957 construction.
    • Located at 24529 FM 506, La Feria, TX 78559.
    • Features a 2,800 sq. ft. main house with 3 bedrooms and 2.5 baths, plus six 756 sq. ft. one‑bedroom apartments in a separate building.
    • Includes ten RV pads on two acres with expansion potential.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Spa & Massage Plumbing Service

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    La Feria
    County
    CAMERON
    State
    Texas
    Longitude
    -97.8239083
    Latitude
    26.20233

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    FAQs

    What type of property is this?
    Office Property / Space - Prime Texas Investment Opportunity: Office & Apartments
    Where is this office property / space located?
    The property is located at 24529 Fm 506 La Feria, TX.
    What is the asking price?
    The asking price for this property is $685,000.
    What are key features of this property?
    This property features: $685,000 asking price.; Office property.; 1957 construction.
    Request Owner's contact information
    24529 Fm 506 La Feria, TX 78559
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    Realmo Value Estimation

    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.

    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.

    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
    24529 Fm 506 La Feria, TX 78559
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