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    1420 Expy 83 Hwy Penitas, TX 78576

    For Sale
    $1,110,000

    Prime Penitas location, 7.52 acres, office space.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    365
    This exceptional commercial property, located at 1420 Expressway 83 Highway in Penitas, Texas, presents a unique investment opportunity. The property encompasses a total of 7.52 acres of land, offering significant potential for expansion and development. Currently, the site includes approximately 2,150 square feet of existing office space, ideal for a variety of professional uses. This existing office building sits on approximately one acre, leaving 6.52 acres of vacant land ready for future development. The property's prime location in the rapidly growing city of Penitas, Texas, within Hidalgo County, ensures high visibility and accessibility. Built in 1999, the office building includes a convenient rear garage. The property's zoning and potential uses should be verified independently. The asking price for this substantial land and office space is $1,110,000. This presents a compelling opportunity for investors seeking a blend of immediate income generation and long-term development potential in a thriving Texas market. The property's zip code is 78576.

    Property Features for 1420 Expy 83 Hwy

    General Information

    Property type
    Office Properties & Spaces
    Lot Size
    327,571 SF

    Building Details

    Year Built
    1999

    HighLights

    • 7.52‑acre commercial property in Penitas, TX.
    • 2,150 sq ft existing office building on approximately one acre.
    • 6.52 acres of vacant land available for development.
    • Located on Expressway 83 Highway in Hidalgo County, offering high visibility.
    • Built in 1999, includes a rear garage.
    • Asking price: $1,110,000.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Penitas
    County
    Hidalgo
    State
    Texas
    Longitude
    -98.4470929
    Latitude
    26.2433602

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    FAQs

    What type of property is this?
    Office Property Space - Prime Penitas location, 7.52 acres, office space.
    Where is this office property space located?
    The property is located at 1420 Expy 83 Hwy Penitas, TX.
    What is the asking price?
    The asking price for this property is $1,110,000.
    What are key features of this property?
    This property features: 7.52-acre commercial property in Penitas, TX.; 2,150 sq ft existing office building on approximately one acre.; 6.52 acres of vacant land available for development.
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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
    1420 Expy 83 Hwy Penitas, TX 78576
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