Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1015 Fm Progreso, TX 78579
    Back to Search
    Property profile & analytics

    1015 Fm, Progreso, TX 78579

    View on Map
    • Apartment buildings
    • 4,686 SF
    • 0.92 lot acres
    Off-Market
    Property ID
    US82-7028838
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Apartment buildings

    Property Details for 1015 Fm

    Year built
    2007
    Lot size
    0.92 lot acres
    Zone code
    RS
    Property type
    Apartment buildings
    APN
    O0200-02-000-0001-00
    APU
    O020002000000100

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jul 19, 2006 — Fernando Galnares Martinez,jesus & Ofelia Warranty Deed —
    — — Fernando Galnares — Loan Modification · related $60k · First Cmnty Bk
    — — Fernando Galnares — Deed Of Trust · related $73k · First Community Bank
    — — Galnares,fernando & San J — Deed Of Trust · related $80k · First Cmnty Bk/tifton
    — — Fernando Galnares — Deed Of Trust · related $138k · First Community Bank
    — — Fernando Galnares — Deed Of Trust · related $165k · First Community Bank

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Progreso
    County
    Hidalgo
    State
    Texas
    Longitude
    -97.9581
    Latitude
    26.1027
    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
    $28,047
    $276,738
    $653,114
    $929,852
    -
    $276,738
    $653,114
    $929,852

    Comparable in this City

    • Value Estimation by Request
      7,680 SF

      Rc Champion St

      APARTMENT HOUSE (5+ UNITS)
      Rc Champion St, Progreso, TX 78579
      View Details
    • Value Estimation by Request
      4,440 SF

      1015 Fm

      APARTMENT HOUSE (5+ UNITS)
      1015 Fm, Progreso, TX 78579
      View Details
    • Value Estimation by Request
      5,152 SF

      1015 Fm

      APARTMENT HOUSE (5+ UNITS)
      1015 Fm, Progreso, TX 78579
      View Details
    • Value Estimation by Request
      2,560 SF

      706 Beckwith Ave

      APARTMENT HOUSE (5+ UNITS)
      706 Beckwith Ave, Progreso, TX 78579
      View Details
    • Value Estimation by Request
      7,040 SF

      420 J R Becerra Ave

      APARTMENT HOUSE (5+ UNITS)
      420 J R Becerra Ave, Progreso, TX 78579
      View Details
    • Value Estimation by Request

      Red Ant Dr

      Multifamily properties
      0 Red Ant Dr, Progreso, TX 78579
      View Details

    Similar Nearby for Sale

    • $193,200
      9.66 Acres

      Irrigated Farmland in Progreso, TX

      9.66 acres of irrigated farmland with road frontage.
      N Gonzalez St, Progreso, TX 78579
      View Details
    • $967,473
      25.47 Acres

      25.47 Acres on Military Highway

      25.47 acres of irrigated farmland with highway frontage.
      Military Rd, Progreso, TX 78579
      View Details
    • $531,025
      19.31 Acres

      Progreso, TX Irrigated Farmland

      Paved corner lot with subdivision potential in Progreso, TX.
      SE Gonzalez Rd N, Progreso, TX 78579
      View Details
    • Contact for pricing

      Highway Frontage Farmland For Sale

      Highway frontage farmland suitable for row crops.
      Tbd Prolongacion Gonzalez Rd, Progreso, TX 78579
      View Details
    • Contact for pricing

      9.12 Acres Paved Frontage

      9.12 acres of paved land with development potential.
      Tbd Fm 1015 Rd, Progreso, TX 78579
      View Details
    • $326,500
      10.04 Acres

      Land in Progreso Lakes, TX

      10.04 acre land with paved frontage.
      N Moon Lake Dr, Progreso Lakes, TX 78579
      View Details

    Similar Nearby for Lease

    • $1,500 /Mo
      75,581 SF

      Commercial Land Near Port of Entry

      1.74 acres of vacant land near Progreso Port.
      121 Military Hwy, Progreso, TX 78579
      View Details
    • $1,200 /Mo
      1,500 SF

      Progreso Commercial Unit For Rent

      High-traffic commercial unit near Progreso International Port of Entry.
      121 Hwy, Progreso, TX 78579
      View Details
    • $1,100 /Mo

      Sesatty Paza in San Juan

      COMMERCIAL SUITE FOR RENT
      302 E Business 83, San Juan, TX 78579
      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.
    1015 Fm
    Progreso, TX 78579
    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

    Thank You for Inquiry
    1015 Fm, Progreso, TX, 78579
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!