Profitable Triplex Investment
For Sale
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609 N St. Marie Avenue, Mission, TX 78574
Triplex with reliable rental income, spacious units, and new roof.
Property Size3,480 SF
Price / SF$90.52
Days on Market1032
Property Features for 609 N St. Marie Avenue
General Information
Standard status
Active
Size
3,480 SF
Property subtype
Multifamily
Building Details
Year Built
2004
Buildings
1
Units
3
Listing Agency:
Capital Advisors Real Estate Group
Listed By:
Jesus Gonzalez · License #787041
Source:
Crexi
Added: Nov 11, 2023
Changed: Aug 28
Last Checked: Sep 7 at 5:56AM
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 Capital Advisors Real Estate Group
Investment Insights
Based on property information with market context.
This property features three units, each generating $27,000 in gross annual income. All units are currently leased at $750 each and include 2 bedrooms and 1 bathroom. Each unit provides 1,100 sqft of living space. Spacious living rooms offer ample space for relaxation and entertainment. The kitchens are equipped with all appliances. The property has a newly redone roof and paint. This triplex offers the potential for a lucrative return on investment.
Key Highlights
- High Gross Annual Income: $27,000 generated from three units.
- Fully Leased Units: All units currently leased, providing immediate rental income.
- Spacious Units: Large 1,100 sqft units.
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
$28,019
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
8.89%
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%
$560,380
$560.4K
Cap Rate 7%
$400,271
$400.3K
Cap Rate 9%
$311,322
$311.3K
Market Conditions
NOI Build-Up for 3,480 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
$57.6K $16.56/SF
− Vacancy
−$6.7K −$1.92/SF
EGI
$50.9K $14.64/SF
− OpEx
−$22.9K −$6.59/SF
NOI
$28.0K $8.05/SF
Area
Hidalgo County, TX
Vacancy
11.60%
Lease Rate
$16.56 /SF/Yr
Expense Ratio
45.00%
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%
$560,380
Cap Rate 7%
$400,271
Cap Rate 9%
$311,322
Alternative Uses
Best Use
Multifamily LT 5
$434.7K
$380.4K – $507.2K
NOI $30,432 @ 7.0% cap · market cap 9.66%
Second Best
Apartment 5plus
$400.3K
$350.2K – $467.0K
NOI $28,019 @ 7.0% cap · market cap 8.89%
Theoretical Best
Hotel Hospitality
$2.62M
$2.29M – $3.06M
NOI $183,483 @ 7.0% cap · market cap 58.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
34
Businesses Nearby
Explore this area
Business Placement
Demographics for 78574, TX
63,627
Population
18,309
Households
3.5
Avg Household Size
28
Median Age
16%
College-Educated
58%
High-School Grad
51.9 sq mi
ZIP Area
1,226
Density / Sq Mi
$52,536
Median Household Income
$28,029
Median Earnings
$807
Median Rent
$119,000
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Triplex with reliable rental income, spacious units, and new roof.
Where is this triplex located?
The property is located at 609 N St. Marie Avenue Mission, TX.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: High Gross Annual Income: $27,000 generated from three units.; Fully Leased Units: All units currently leased, providing immediate rental income.; Spacious Units: Large 1,100 sqft units.
