Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    1501 Lux Dr Mission, TX 78573

    • Land
    • 1.00 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 1501 Lux Dr

    Lot size
    1.00 lot acres
    Property type
    Land

    Description

    This exceptional 1.002-acre lot presents a unique opportunity to build your dream home in the prestigious Las Velas gated community in Palmhurst, Texas. Located at 1501 Lux Drive, zip code 78573, this property offers unparalleled privacy and tranquility within a meticulously planned subdivision. The community features only one street, ensuring a peaceful atmosphere and a strong sense of community. The expansive lot provides ample space for a custom-designed home, allowing for the creation of a truly bespoke estate. Imagine building your dream home amidst lush greenery and majestic palm trees, enjoying the serenity and security of this exclusive enclave. Las Velas is situated in Hidalgo County, Texas, offering a blend of sophisticated living and convenient access to local amenities. The property's location in Palmhurst provides a peaceful retreat while remaining conveniently located. This is an exceptional opportunity to own a piece of this exclusive community and create the home you've always envisioned. The asking price for this remarkable lot is $195,000. Don't miss this chance to build your dream home in this highly desirable location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Mission
    County
    Hidalgo
    State
    Texas
    Longitude
    -98.2979
    Latitude
    26.3089

    Comparable in this City

    • Value Estimation by Request
      2.41 Acres

      0000 Turista St

      Land • 2.41 Acres
      0000 Turista St, Mission, TX 78573
      View Details
    • Value Estimation by Request
      3.30 Acres

      Trosper Blvd

      Multifamily properties • 3.30 Acres
      0 Trosper Blvd, Mission, TX 78573
      View Details
    • Value Estimation by Request
      28.95 Acres

      900 Mayberry Blvd

      Land • 28.95 Acres
      900 Mayberry Blvd, Alton, TX 78573
      View Details
    • Value Estimation by Request
      34.09 Acres

      000 Hwy 107 Hwy

      Land • 34.09 Acres
      000 Hwy 107 Hwy, Palmhurst, TX 78573
      View Details
    • Value Estimation by Request
      30.00 Acres

      4501 Stewart Rd

      Land • 30.00 Acres
      4501 Stewart Rd, Palmhurst, TX 78573
      View Details
    • Value Estimation by Request

      1317 Michigan St

      Multifamily properties
      1317 Michigan St, Alton, TX 78573
      View Details

    Similar Nearby for Sale

    • $1,375,000
      25.00 Acres

      Lake Alton 25-Acre Development Site

      Prime Texas land, lakefront, buildable.
      1008 Mayberry Blvd, Alton, TX 78573
      View Details
    • $700,000
      10.35 Acres

      10-Acre Texas Farm & Residential Land

      Prime Texas acreage, ideal for development.
      00 Trosper Rd, Mission, TX 78573
      View Details
    • $105,000

      Alton Fourplex Development Opportunity

      Build Your Dream Fourplex in Alton, TX
      1209 Michigan St, Alton, TX 78573
      View Details
    • $1,400,000
      30.00 Acres

      Palmhurst Land: 30 Acres for Development

      Prime 30-acre residential tract in Palmhurst, TX.
      4501 Stewart Rd, Palmhurst, TX 78573
      View Details
    • $105,000

      Alton Fourplex Development Opportunity

      Prime Alton location, build your fourplex!
      1217 Michigan St, Alton, TX 78573
      View Details
    • $105,000

      Alton Fourplex Development Opportunity

      Build your dream fourplex in prime Alton location.
      1321 Michigan St, Alton, TX 78573
      View Details

    Similar Nearby for Lease

    • $2 SF/Yr
      4,477 SF

      Alton Boulevard Commercial Land Opportunity

      Prime Commercial Land: New Plaza, High Visibility
      514 Alton Blvd, Alton, TX 78573
      View Details
    • $13 SF/Yr
      6,552 SF

      Mission, TX Commercial Property

      Warehouse/Office Space - 6,552 sq ft
      000 State Highway 107, Mission, TX 78573
      View Details
    • $15 SF/Yr
      850 SF

      Alton Blvd Executive Office Suite

      Prime Alton location, high-traffic area.
      825 Alton Blvd, Alton, TX 78573
      View Details
    • $2 SF/Yr
      4,477 SF

      Alton, TX Commercial Land Opportunity

      Prime Alton location, new commercial suite.
      514 Alton Blvd, Alton, TX 78573
      View Details
    • $15 SF/Yr
      12,600 SF

      Alton, TX Commercial Office Space

      Prime Alton location, 4225 sq ft, drive-thru.
      409 Main Ave, Alton, TX 78573
      View Details
    • $1,800 /Mo
      40,511 SF

      Commercial Land in High-Traffic Area

      Corner lot land for lease in Alton, Texas.
      700 Alton Blvd, Mission, TX 78573
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1501 Lux Dr
    Mission, TX 78573
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.