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    1015 Expressway 83 Weslaco, TX 78599
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    Property profile & analytics

    1015 Expressway 83 Weslaco, TX 78599

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    • Office properties & Spaces
    • 5.33 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Installation Services / General Contractor
    • Lowe's Garden Center / Garden Center
    • Lowe's ProServices / Building Supply / Industrial Manufacturer
    • Lowe's Home Improvement / Building Supply / Hardware & Home Improvement
    • South texas valley palm trees / Landscaping / General Contractor

    Property Details for 1015 Expressway 83

    Lot size
    5.33 lot acres
    Property type
    Office properties & Spaces
    Property subtype
    Land

    Description

    This exceptional 5.3-acre commercial property is ideally situated at 1015 E Expressway 83 in Weslaco, Texas, within Hidalgo County (zip code 78599). The property boasts a Commercial zoning designation, offering a multitude of development possibilities for businesses seeking a prominent presence in a thriving retail area. Its location along Paseo del Norte, just north of IH 2 (Highway 83), ensures high visibility and easy accessibility for customers. The surrounding area is anchored by a robust selection of major retailers, including a Walmart Supercenter, HEB grocery store, Academy Sports + Outdoors, JCPenney, TJ Maxx, and Petco. This strategic location provides immediate access to a significant consumer base and substantial foot traffic. The property's size and zoning make it suitable for a wide range of commercial ventures, from retail establishments and office buildings to other commercial developments. This is a rare opportunity to acquire a substantial parcel of land in a prime commercial location with exceptional visibility and proximity to established businesses. The property's latitude and longitude coordinates are 26.1752279, -97.9819361 respectively. This offering presents a compelling investment opportunity for discerning buyers seeking a high-impact commercial property in a rapidly growing market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Weslaco
    County
    Hidalgo
    State
    Texas
    Longitude
    -97.9819
    Latitude
    26.1752

    Comparable in this City

    • Value Estimation by Request

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      1.18 Acres

      4038 Expressway 83

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      28.00 Acres

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      1.97 Acres

      00 Vo-Tech Rd

      Land • 1.97 Acres
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    • Value Estimation by Request
      14.00 Acres

      Westgate Dr

      Land • 14.00 Acres
      0 Westgate Dr, Weslaco, TX 78599
      View Details

    Similar Nearby for Sale

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      Land For Sale

      Land available for sale.
      1015 Expressway 83 E, Weslaco, TX 78599
      View Details

    Similar Nearby for Lease

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      8,959 SF

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      New Retail Unit For Lease

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    Weslaco, TX 78599
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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
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