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    300 Mile 3 Rd Palmhurst, TX 78573

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    For Lease
    Contact for pricing

    Prime Retail Space Available in Palmhurst

    Lot size:
    89,549 SF

    Property Features for 300 Mile 3 Rd

    General Information

    Property type
    Medical space
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    89,549 SF
    Class
    A
    Total Rate
    149248.33

    Building Details

    Year Built
    2015
    Buildings
    3
    Stories
    1

    Spaces For Lease

    at 300 Mile 3 Rd, Palmhurst, TX 78573 Contact us
    Unit Bldg 228 - Suite 120

    $20 /Mo

    Size
    3,038 SF
    Contact us
    Unit Bldg 228 - Suite 140

    $20 /Mo

    Size
    5,032 SF
    Contact us
    Unit Bldg 300 - Suite 120

    $20 /Mo

    Size
    2,002 SF
    Contact us
    Unit Bldg 300 - Suite 130

    $20 /Mo

    Size
    2,000 SF
    Contact us

    We can help!

    Listing Contact
    Carla Villarreal
    Carla Villarreal

    Listing Agency: NAI Excel Listing Agent: Carla Villarreal

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Palmhurst Village Shopping Center offers exceptional retail opportunities in Hidalgo County. This Class A, multi-tenant property boasts 89,549 square feet across three single-story buildings, constructed in 2015. The center features 17 suites, with 12,072 square feet currently vacant, providing immediate occupancy options. Spaces range from a minimum of 2,000 square feet to a maximum contiguous space of 5,032 square feet, catering to a variety of business needs. The property is zoned CNTY and conveniently located near N Conway Avenue. The center's design is ideal for retail and medical uses, offering high visibility and accessibility. Net operating expenses are estimated at approximately $5.17 per square foot annually. This is a unique chance to secure space in a thriving retail center with excellent potential for growth and strong tenant occupancy. The property's modern construction and prime location make it an attractive investment for businesses seeking a high-traffic area with ample parking. Contact us today to learn more about the available spaces and lease terms.
    Property Profile Location Intelligence

    Current Use by Public Records

    Medical space

    Suggested Use

    Real Estate Agency Restaurant Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Gym & Fitness Center Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Palmhurst
    County
    Hidalgo
    State
    Texas
    Longitude
    -98.316017551377
    Latitude
    26.255720722335

    Nearby Similar for Lease

    • Contact for pricing
      1,400 SF

      Finished Office Space Available

      1,400 SF finished office space suitable for various uses.
      123 W Mile 3 Rd, Palmhurst, TX 78573
      View Details

    FAQs

    What type of property is this?
    Medical space - Prime Retail Space Available in Palmhurst
    Where is this medical space located?
    The property is located at 300 Mile 3 Rd Palmhurst, TX.
    What is the lease rate?
    The lease rate is $20 SF/Yr.
    What are key features of this property?
    This property features: Class A retail center totaling 89,549 square feet.; Multi-tenant property with 17 suites, offering spaces ranging from 2,000 to 5,032 contiguous square feet.; Currently, 12,072 square feet of retail space is available for lease.
    Request Owner's contact information
    300 Mile 3 Rd Palmhurst, TX 78573
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    Palmhurst, TX 78573
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    300 Mile 3 Rd Palmhurst, TX 78573
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Carla Villarreal
    Carla Villarreal
    Real Estate License ID: 695465
    Learn more
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