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

    1321 N Conway Ave Mission, TX 78572

    • Commercial real estate
    For Sale
    View listing
    $600,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-4759697
    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

    • Drago Consulting & Services / Consultant
    • Connie's Meeting Hall / Auditorium

    Property Details for 1321 N Conway Ave

    Year built
    1930
    Property type
    Commercial real estate

    Description

    This exceptional 14,000+ sq ft commercial property, located at 1321 N Conway Avenue in Mission, Texas (zip code 78572), presents a unique investment opportunity. Built in 1930, the property offers a versatile blend of land and office space, ideal for a variety of commercial ventures. The substantial lot size provides ample space for development, complemented by convenient alley access, a sizable backyard, and a side yard. The existing structure includes a second-floor apartment, adding further potential for income generation or adaptive reuse. Situated in a high-traffic area, this property benefits from excellent visibility and accessibility. The asking price is $600,000. The property's zoning and potential uses are diverse, making it suitable for a wide range of commercial projects, including but not limited to a church, restaurant, pub, or mercado. This prime location in Hidalgo County, Texas, offers significant growth potential and presents a compelling opportunity for investors seeking a high-return investment in a thriving commercial market. The property's size, location, and existing features combine to create a truly unique and attractive investment proposition. Serious inquiries are encouraged.

    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
    -98.3253926
    Latitude
    26.2196824

    Comparable in this City

    • $3,000,000
      1.98 Acres

      Mission Commercial Office Complex

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      Mission Executive Office Suite

      Prime Office Space, 493 SF, $220K
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    • $1,675,000
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      Palmview Commercial Property Near Expressway

      Income-producing 5-acre commercial property near expressway and upcoming loop.
      3105 W Expy 83 Hwy, Palmview, TX 78572
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    • $465,000

      Mission TX Commercial Corner Lot

      High-traffic location, prime development potential.
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    Similar Nearby for Sale

    • $3,000,000
      1.98 Acres

      Mission Commercial Office Complex

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      2614 Griffin Pkwy, Mission, TX 78572
      View Details
    • $350,000

      Expressway 83 Commercial Property

      Prime Texas land, office, & warehouse.
      7710 Expy, Palmview, TX 78572
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    • $675,000

      Palmview Commercial Property Investment

      Prime Texas location, two buildings, ample parking.
      315 Veterans Blvd, Palmview, TX 78572
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    • $220,000

      Mission Executive Office Suite

      Prime Office Space, 493 SF, $220K
      2100 Shary Rd, Mission, TX 78572
      View Details
    • $1,675,000
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      Palmview Commercial Property Near Expressway

      Income-producing 5-acre commercial property near expressway and upcoming loop.
      3105 W Expy 83 Hwy, Palmview, TX 78572
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    • $465,000

      Mission TX Commercial Corner Lot

      High-traffic location, prime development potential.
      2218 Tangelo Ave, Mission, TX 78572
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    Similar Nearby for Lease

    • $18 SF/Yr
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      Mission Executive Office Suite

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      Mission Commercial Plaza: Executive Office Space

      Prime Mission location, 1,183 sq ft, ample parking.
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    • $0.01 SF/Yr
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      Mission Office Space: Prime Location

      Executive Office Suite, Ample Parking
      1601 Griffin Pkwy, Mission, TX 78572
      View Details
    • $0.06 SF/Yr
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      Mission Office & Land Opportunity

      Prime Downtown Mission Office Space
      1006 Conway Ave, Mission, TX 78572
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    • $10 SF/Yr
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      Mission, TX Commercial Property

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    • $20 SF/Yr
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      Mission Office Building: Prime Location

      1,033 sq ft Office, Ample Parking
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    1321 N Conway Ave
    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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