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    1401 Griffin Pkwy Mission, TX 78572-2421
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    Property profile & analytics

    1401 Griffin Pkwy Mission, TX 78572-2421

    View on Map
    • Office buildings
    • 3,952 SF
    • 2.77 lot acres
    Off-Market
    Property ID
    US82-4322266
    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
    $730,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Corpus Bail Bonds / Law Firm
    • Spirit Peace Evangel Lutheran / Church
    • Justice Hall Rental / Theater & Performing Art Venue / Music Venue

    Property Details for 1401 Griffin Pkwy

    Year built
    1975
    Lot size
    2.77 lot acres
    Property size
    3,952 SF
    Property type
    Office buildings
    APN
    K5500-00-000-000A-00
    APU
    K550000000000A00

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $727,000
      Market price range: $319k - $945k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $560,000
      Current use
      COMMERCIAL (GENERAL)
      $575,000
      Change: +3% Conversion: Easy
      RETAIL STORES
      $550,000
      Change: -1% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $515,000
      Change: -8% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Mission
    County
    Hidalgo
    State
    Texas
    Longitude
    -98.3018
    Latitude
    26.2277
    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
    $13,834
    $398,181
    $145,084
    $543,265
    -
    $398,181
    $145,084
    $543,265

    Comparable in this City

    • Value Estimation by Request
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      2,453 SF

      1114 Veterans Blvd

      OFFICE BUILDING • 2,453 SF
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      1,376 SF

      6603 Fm 494

      OFFICE BUILDING • 1,376 SF
      6603 Fm 494, Mission, TX 78572-1501
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    • Value Estimation by Request
      1,200 SF

      239 Griffin Pkwy

      OFFICE BUILDING • 1,200 SF
      239 Griffin Pkwy, Mission, TX 78572-2911
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    • Value Estimation by Request
      2,160 SF

      1826 Griffin Pkwy

      OFFICE BUILDING • 2,160 SF
      1826 Griffin Pkwy, Mission, TX 78572-3030
      View Details
    • Value Estimation
      $600,000
      9,680 SF

      225 Minnesota Rd

      OFFICE BUILDING • 9,680 SF
      225 Minnesota Rd, Mission, TX 78572
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      25,023 SF

      Class A Office Building

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    • Contact for pricing
      11,386 SF

      Commercial Property in High-Traffic Area

      Commercial property featuring car wash, quick lube, and office building.
      2614 E Griffin Pkwy, Mission, TX 78572
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    • New
      $315,000
      1,830 SF

      Versatile Commercial Property in Palmview

      Commercial property with multiple income-producing opportunities in a high-traffic location.
      804 W Veterans Blvd, Palmview, TX 78572
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    • $1,675,000
      4,288 SF

      Palmview, TX Commercial Opportunity

      Income-producing commercial property near expressway with development potential.
      3105 W Expy 83 Hwy, Palmview, TX 78572
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    • Contact for pricing

      Expressway Frontage Commercial Property

      Commercial building with warehouse, suitable for retail or daycare.
      7710 Expressway 83 W, Mission, TX 78572
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    • $450,000
      2,544 SF

      Palmview Commercial Property on Corner Lot

      Large corner lot with high visibility and traffic for business.
      4500 Expressway 83 W, Palmview, TX 78572
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    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
    • $2,750 /Mo
      1,350 SF

      Advanced Medical Arts Center Suite

      Finished suite in a professional office center with courtyard.
      1112 Griffin Pkwy, Mission, TX 78572
      View Details
    • $22 SF/Yr
      15,003 SF

      Retail Strip Center in Mission

      Retail/office/medical space in a high-traffic Mission location.
      1613 N Conway Ave, Mission, TX 78572
      View Details
    • $2,700 /Mo
      1,996 SF

      Mission, TX - Office Suite

      Turnkey office suite with courtyard and golf course views.
      1022 E Griffin Pkwy W, Mission, TX 78572
      View Details
    • New
      $500 /Mo
      275 SF

      Professional Office in High Traffic Area

      Office space available in a high-traffic Mission, Texas location.
      2000 E Us Hwy, Mission, TX 78572
      View Details
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    1401 Griffin Pkwy
    Mission, TX 78572-2421
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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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