Remodeled Office
For Sale
$544,260
9620 W Devan Drive, Mission, TX 78573
Recently updated office property with central air, paved access, and two leased suites.
Property Size2,647 SF
Price / SF$205.61
Days on Market186
Property Features for 9620 W Devan Drive
General Information
Standard status
Active
Size
2,647 SF
Property subtype
General Commercial
Taxes and HOA fees
Annual Taxes
$3,010
Amenities
Central Air
3
16 Parking Spaces. Paved Driveway.
Handicapped Access, Security Lighting. State Road.
Building Details
Year Built
2005
Listing Agency:
Rodrock Realty
(956) 890-5869
Listed By:
Nora E Perez
(956) 890-5869
Source:
Xome
Added: Feb 26
Changed: Aug 29
Last Checked: Aug 30 at 3:16PM
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 Rodrock Realty
Investment Insights
Based on property information with market context.
This 2,647-square-foot office building was built in 2005 and recently remodeled. The property contains three office suites, with two currently leased, and includes central air for year-round interior comfort. Handicapped access and security lighting are also in place.
The property fronts Expressway 107 and includes 16 parking spaces with a paved driveway. Additional space beside the building provides room for expansion or future development. Its office configuration and existing leases support continued professional or business use.
The property fronts Expressway 107 and includes 16 parking spaces with a paved driveway. Additional space beside the building provides room for expansion or future development. Its office configuration and existing leases support continued professional or business use.
Key Highlights
- 2,647‑square‑foot office building built in 2005
- Recently remodeled three‑office configuration
- Two suites currently leased
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
$44,276
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
8.14%
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%
$885,520
$885.5K
Cap Rate 7%
$632,514
$632.5K
Cap Rate 9%
$491,956
$492.0K
Market Conditions
NOI Build-Up for 2,647 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
$81.3K $30.72/SF
− Vacancy
−$22.3K −$8.42/SF
EGI
$59.0K $22.30/SF
− OpEx
−$14.8K −$5.58/SF
NOI
$44.3K $16.73/SF
Area
Hidalgo County, TX
Vacancy
27.40%
Lease Rate
$30.72 /SF/Yr
Expense Ratio
25.00%
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%
$885,520
Cap Rate 7%
$632,514
Cap Rate 9%
$491,956
Alternative Uses
Best Use
Office B
$632.5K
$553.5K – $737.9K
NOI $44,276 @ 7.0% cap · market cap 8.14%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$1.99M
$1.74M – $2.33M
NOI $139,563 @ 7.0% cap · market cap 25.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
79
Businesses Nearby
Explore this area
Business Placement
Demographics for 78573, TX
42,229
Population
13,339
Households
3.2
Avg Household Size
29
Median Age
15%
College-Educated
63%
High-School Grad
36.7 sq mi
ZIP Area
1,151
Density / Sq Mi
$51,185
Median Household Income
$27,730
Median Earnings
$909
Median Rent
$154,800
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Recently updated office property with central air, paved access, and two leased suites.
Where is this office building located?
The property is located at 9620 W Devan Drive Mission, TX.
What is the asking price?
The asking price for this property is $544,260.
What are key features of this property?
This property features: 2,647‑square‑foot office building built in 2005; Recently remodeled three‑office configuration; Two suites currently leased
