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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1229 E Griffin Pkwy Mission, TX 78572

    • Commercial real estate
    For Lease
    View listing
    $2,200 /Mo
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-3411259
    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

    • Commercial real estate

    Property Details for 1229 E Griffin Pkwy

    Property type
    Commercial real estate

    Description

    This exceptional 2.12-acre commercial land parcel, located at 1229 E Griffin Parkway #2 in Mission, Texas (zip code 78572), presents a unique investment opportunity. The property, identified by APN W010000025001101, is designated for single-tenant occupancy and offers ample parking with 10 spaces available. Currently undeveloped, this lot is part of a new commercial plaza strategically positioned between Stewart Road and Bryan Road in Mission, Texas. The plaza is projected for completion in October 2024, providing an ideal timeframe for development and occupancy. With a total lot size of 2.12 acres, this property offers significant potential for a variety of commercial uses. The property's location within a thriving commercial area ensures high visibility and accessibility, making it an attractive option for businesses seeking a prominent presence in Mission. This is a rare opportunity to secure a prime location in a rapidly developing area. The property is zoned for commercial use (specific zoning information should be independently verified). Don't miss this chance to establish your business in this highly sought-after location. Act now to reserve your space in this promising new commercial plaza.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Mission
    County
    Hidalgo
    State
    Texas
    Longitude
    -98.3745717
    Latitude
    26.1988865

    Comparable in this City

    • $28 SF/Yr
      1,183 SF

      Mission Commercial Plaza: Executive Office Space

      Prime Mission location, 1,183 sq ft, ample parking.
      608 Shary Rd, Mission, TX 78572
      View Details
    • $18 SF/Yr
      1,192 SF

      Mission Executive Office Suite

      Prime Office Space, 1,192 sq ft
      2100 Shary Rd, Mission, TX 78572
      View Details
    • $20 SF/Yr
      10,062 SF

      Prime Penitas Commercial Land

      2.68 acres, 58 parking spaces
      2400 Expressway 83, Mission, TX 78572
      View Details
    • $27 SF/Yr
      13,627 SF

      Griffin Parkway Commercial Land

      Prime Daycare Land, Turnkey Opportunity
      1640 Griffin Pkwy, Mission, TX 78572
      View Details
    • $112 SF/Yr
      80 SF

      Mission, TX Commercial Land & Office

      1.58-acre Office Space, Single Tenant
      2515 Colorado St, Mission, TX 78572
      View Details
    • $19 SF/Yr
      3,344 SF

      Palmview Restaurant Opportunity

      Fully equipped, high-traffic location
      121 Bentsen Palm Dr, Palmview, TX 78572
      View Details

    Similar Nearby for Sale

    • $26,000,000
      1,130.00 Acres

      Mission, TX Commercial Land - 1,130 Acres

      Prime Hidalgo County acreage, ideal for various uses.
      4 Mile Between Iowa And Abrams Rd, Mission, TX 78572
      View Details
    • $1,600,000
      21.50 Acres

      Mission, TX Residential Land - 21.5 Acres

      Prime 21.5-acre residential tract in Mission, TX. Exceptional development opportunity.
      0 Bentsen Palm Dr, Mission, TX 78572
      View Details
    • $1,500,000
      3,200 SF

      Mission, TX Commercial Land & Building

      High-Traffic Retail Investment Opportunity
      1810 Griffin Pkwy, Mission, TX 78572
      View Details
    • $135,000

      Mission, TX Commercial Land Opportunity

      High-traffic Business 83 lot, 21,780 sq ft.
      1512 Business 83 Hwy, Mission, TX 78572
      View Details
    • $450,000

      Mission, TX Commercial Land Investment

      Prime Texas land: commercial & residential potential.
      0 Colorado St, Mission, TX 78572
      View Details
    • $450,000
      25.00 Acres

      Mission, TX Land: 25 Acres

      Prime Hidalgo County land, excellent investment.
      0 Texan Rd, Mission, TX 78572
      View Details

    Similar Nearby for Lease

    • $28 SF/Yr
      1,183 SF

      Mission Commercial Plaza: Executive Office Space

      Prime Mission location, 1,183 sq ft, ample parking.
      608 Shary Rd, Mission, TX 78572
      View Details
    • $18 SF/Yr
      1,192 SF

      Mission Executive Office Suite

      Prime Office Space, 1,192 sq ft
      2100 Shary Rd, Mission, TX 78572
      View Details
    • $20 SF/Yr
      10,062 SF

      Prime Penitas Commercial Land

      2.68 acres, 58 parking spaces
      2400 Expressway 83, Mission, TX 78572
      View Details
    • $27 SF/Yr
      13,627 SF

      Griffin Parkway Commercial Land

      Prime Daycare Land, Turnkey Opportunity
      1640 Griffin Pkwy, Mission, TX 78572
      View Details
    • $112 SF/Yr
      80 SF

      Mission, TX Commercial Land & Office

      1.58-acre Office Space, Single Tenant
      2515 Colorado St, Mission, TX 78572
      View Details
    • $19 SF/Yr
      3,344 SF

      Palmview Restaurant Opportunity

      Fully equipped, high-traffic location
      121 Bentsen Palm Dr, Palmview, TX 78572
      View Details
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    Mission, TX 78572
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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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