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    Tbd Military Rd Progreso, TX 78579

    Sponsored
    For Sale
    $967,860

    Hidalgo County farmland, excellent investment.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    408
    This exceptional 25.47-acre tract of land presents a compelling investment opportunity in Progreso, Texas. Located on the north side of Military Highway 281, the property boasts significant paved road frontage, providing excellent accessibility. Currently leased to a local farmer, the land is utilized for row crop agriculture. The terrain is described as level and irrigated, indicating suitability for continued agricultural use or potential redevelopment. The property's location in Hidalgo County, Texas, offers proximity to key transportation routes and a growing regional economy. With its substantial size and strategic highway frontage, this property is well-suited for a variety of uses, including continued agricultural operations, potential subdivision, or other commercial development. The asking price is $967,860. The zip code is 78579. Serious inquiries are encouraged to explore the possibilities of this prime Texas land. The property is located at TBD Military Road, Progreso, TX.

    Property Features for 0 Tbd Military Rd

    General Information

    Property type
    Land
    Lot Size
    1,109,473 SF

    We can help!

    Listing Contact
    Jonathan Cohrs
    Jonathan Cohrs

    Learn more

    HighLights

    • 25.47‑acre tract in Progreso, TX, ideal for investment.
    • Significant paved road frontage on Military Highway 281.
    • Currently leased for row crop agriculture; level, irrigated land.
    • Located in Hidalgo County, TX, offering access to key transportation routes.
    • Suitable for agriculture, subdivision, or other commercial development.
    • Asking price: $967,860; Zip code: 78579; Address: TBD Military Road, Progreso, TX.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Progreso
    County
    Hidalgo
    State
    Texas
    Longitude
    -97.9569011
    Latitude
    26.0874839

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    FAQs

    What type of property is this?
    Land - Hidalgo County farmland, excellent investment.
    Where is this land located?
    The property is located at Tbd Military Rd Progreso, TX.
    What is the asking price?
    The asking price for this property is $967,860.
    What are key features of this property?
    This property features: 25.47-acre tract in Progreso, TX, ideal for investment.; Significant paved road frontage on Military Highway 281.; Currently leased for row crop agriculture; level, irrigated land.
    (956) 464-7355
    Request Owner's contact information
    Tbd Military Rd Progreso, TX 78579
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    Progreso, TX 78579
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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
    Tbd Military Rd Progreso, TX 78579
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    We can help!
    Listing Contact
    Jonathan Cohrs
    Jonathan Cohrs
    (956) 464-7355
    Learn more
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