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    7222 Mile 2 Mercedes, TX 78570

    For Sale
    $775,000

    Four-unit apartment complex, prime location.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    365
    This exceptional investment opportunity in Mercedes, Texas, presents a compelling chance to acquire a four-unit apartment building situated on a substantial 9.23-acre lot. The property boasts a strategic location directly on Mile 2 Road, less than a mile from Expressway 83, ensuring excellent accessibility and visibility. The complex comprises four separate buildings, three of which have been fully renovated and are currently generating rental income through existing leases. The property's significant acreage offers considerable potential for future development. The expansive land provides ample space to construct additional rental units, catering to the growing local demand for housing. This presents a unique opportunity to expand the existing rental portfolio and capitalize on the area's development potential. The existing buildings, combined with the vast undeveloped land, create a versatile investment, allowing for both immediate income generation and long-term growth through strategic expansion. The property's location near Expressway 83 further enhances its appeal, providing convenient access to major transportation routes. Built in 1987, this property offers a blend of established income and significant future development potential. This is a rare chance to acquire a multifamily property with substantial land in a rapidly growing area.

    Property Features for 7222 Mile 2

    General Information

    Property type
    Multifamily properties
    Lot Size
    402,059 SF

    Building Details

    Year Built
    1987
    Buildings
    4
    Units
    4

    HighLights

    • $775,000 asking price.
    • Multifamily property with four units.
    • Four buildings on a 9.23‑acre lot in Mercedes, TX.
    • Built in 1987.
    • Three units currently leased.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Small apartment buildings

    Suggested Use

    Building Supply Spa & Massage Wholesale Shop Auto Repair Shop Nail Salon Gym & Fitness Auto Parts Store Hotel & Motel Storage Facility Garden Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Mercedes
    County
    Hidalgo
    State
    Texas
    Longitude
    -97.8775386
    Latitude
    26.1443743

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    FAQs

    What type of property is this?
    Multifamily property - Four-unit apartment complex, prime location.
    Where is this multifamily property located?
    The property is located at 7222 Mile 2 Mercedes, TX.
    What is the asking price?
    The asking price for this property is $775,000.
    What are key features of this property?
    This property features: $775,000 asking price.; Multifamily property with four units.; Four buildings on a 9.23-acre lot in Mercedes, TX.
    Request Owner's contact information
    7222 Mile 2 Mercedes, TX 78570
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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
    7222 Mile 2 Mercedes, TX 78570
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