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    Property profile & analytics

    1021 Utah Ave Weslaco, TX 78596

    • Office buildings
    • 2,460 SF
    • 0.24 lot acres
    For Sale
    View listing
    $275,000
    Last Sale
    Sep 11, 2024
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-5168364
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Cuellar & Associates LLC / Dental Insurance Agency / Home Insurance Agency

    Property Details for 1021 Utah Ave

    Year built
    2003
    Lot size
    0.24 lot acres
    Property size
    2,460 SF
    Zone code
    CO
    Property type
    Office buildings
    APN
    S4473-00-000-0004-00
    APU
    S447300000000400

    Description

    This exceptional commercial property, located at 1021 S Utah Avenue #4 in Weslaco, Texas, presents a unique investment opportunity. Built in 2003, this well-maintained condo office boasts a desirable location in the medical district, just two blocks south of Knapp Medical Hospital. The 10,267.092 square foot lot features a concrete parking lot with space for approximately 35 vehicles. The building itself offers a thoughtfully designed floor plan ideal for a variety of professional uses, including medical practices, insurance agencies, legal offices, accounting firms, or real estate businesses. The interior features a welcoming main lobby with a reception area complete with granite countertops and comfortable seating. A large window displays the office name, leading to a spacious conference room. Beyond the lobby are four private offices, a copy/communication room, a break room, and two ADA-compliant restrooms. Two additional rooms are equipped with built-in cubicle desks, perfect for individual workspaces or small teams. The exterior showcases a beautiful entrance and decorative metal front door, along with building signage. This property is offered at a new, reduced price of $275,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $315,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $375,000
      Market price range: $149k - $421k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $305,000
      Current use
      AUTO REPAIR, GARAGE
      $320,000
      Change: +5% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $300,000
      Change: -2% Conversion: Easy
      RETAIL STORES
      $275,000
      Change: -10% Conversion: Moderate
      MEDICAL BUILDING
      $260,000
      Change: -14% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Weslaco
    County
    Hidalgo
    State
    Texas
    Longitude
    -97.9778
    Latitude
    26.1494
    CBSA code
    32580
    CBSA name
    MCALLEN-EDINBURG-MISSION, TX METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $5,839
    $61,602
    $166,516
    $228,118
    -
    $61,602
    $166,516
    $228,118

    Comparable in this City

    • Value Estimation
      $340,000
      1,750 SF

      405 Missouri Ave

      OFFICE BUILDING • 1,750 SF
      405 Missouri Ave, Weslaco, TX 78596-6017
      View Details
    • Value Estimation
      $955,000
      27,389 SF

      2290 Pike Blvd

      OFFICE BUILDING • 27,389 SF
      2290 Pike Blvd, Weslaco, TX 78596-4966
      View Details
    • Value Estimation
      $250,000
      962 SF

      537 Texas Blvd

      OFFICE BUILDING • 962 SF
      537 Texas Blvd, Weslaco, TX 78596-6220
      View Details
    • Value Estimation
      $550,000
      12,844 SF

      Border Ave

      OFFICE BUILDING • 12,844 SF
      Border Ave, Weslaco, TX 78596
      View Details
    • Value Estimation
      $515,000
      14,356 SF

      Westgate Dr

      OFFICE BUILDING • 14,356 SF
      Westgate Dr, Weslaco, TX 78596
      View Details
    • Value Estimation
      $380,000
      4,647 SF

      208 Border Ave

      OFFICE BUILDING • 4,647 SF
      208 Border Ave, Weslaco, TX 78596-5814
      View Details

    Similar Nearby for Sale

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      Weslaco Office Building For Sale

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      High-Income Potential, Versatile Space
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    • $275,000

      Weslaco Office Condo - $275K

      Prime medical district office condo, 10,267 sq ft lot.
      1021 Utah Ave, Weslaco, TX 78596
      View Details

    Similar Nearby for Lease

    • $1,300 /Mo
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      Versatile Commercial Space Available

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    • Contact for pricing
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      Weslaco Office Suite for Lease

      Prime Weslaco location, 170 sq ft office.
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    • $2,500 /Mo
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      Versatile Commercial Space on 18th

      Adaptable commercial space in Weslaco, suitable for various businesses.
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      View Details
    • $500 /Mo
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      Weslaco Office Building For Lease

      5,778 SF office space in high-visibility Weslaco location.
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    • $18 SF/Yr
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      Weslaco Commercial Land Opportunity

      Prime .48-acre lot, build-to-suit available.
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      View Details
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    Weslaco, TX 78596
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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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