Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    1502 Business Hwy 83 Mission, TX 78572
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1502 Business Hwy 83 Mission, TX 78572

    View on Map
    • Turn key restaurants
    • 4,030 SF
    • 0.50 lot acres
    Off-Market
    Last Sale Aug 12, 2020
    Property ID
    US82-3355133
    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

    • Turn key restaurants

    Property Details for 1502 Business Hwy 83

    Year built
    2018
    Lot size
    0.50 lot acres
    Property size
    4,030 SF
    Zone code
    CO
    Property type
    Turn key restaurants
    APN
    T3410-00-000-0016-00
    APU
    T341000000001600

    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
    Mission
    County
    Hidalgo
    State
    Texas
    Longitude
    -98.3908
    Latitude
    26.2237
    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
    $9,833
    $92,769
    $270,312
    $363,081
    -
    $92,769
    $270,312
    $363,081

    Comparable in this City

    • Value Estimation by Request
      5,600 SF

      1233 Griffin Pkwy

      RESTAURANT • 5,600 SF
      1233 Griffin Pkwy, Mission, TX 78572-2417
      View Details
    • Value Estimation by Request
      3,512 SF

      Griffin Pkwy

      RESTAURANT • 3,512 SF
      Griffin Pkwy, Mission, TX 78572
      View Details
    • Value Estimation by Request
      1,044 SF

      2003 Roque Salinas Rd

      RESTAURANT • 1,044 SF
      2003 Roque Salinas Rd, Mission, TX 78572
      View Details
    • Value Estimation by Request
      2,560 SF

      2402 Interstate Hwy 2nd 2

      RESTAURANT • 2,560 SF
      2402 Interstate Hwy 2nd 2, Palmview, TX 78572-7040
      View Details
    • Value Estimation by Request
      1,296 SF

      2300 Interstate Hwy 2nd 2

      RESTAURANT • 1,296 SF
      2300 Interstate Hwy 2nd 2, Palmview, TX 78572-2102
      View Details
    • Value Estimation by Request
      4,420 SF

      1352 1st St Ste A

      RESTAURANT • 4,420 SF
      1352 1st St Ste A, Mission, TX 78572-5951
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Olive Garden NNN Ground Lease

      High-performing Olive Garden with long-term ground lease in Mission, TX.
      1405 E Expy 83 Msn, Mission, TX 78572
      View Details
    • 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
      View Details
    • $185,000
      0.51 Acres

      Commercial Land in Mission, Texas

      Prime commercial property in a growing area of Mission, Texas.
      1512 W Business 83 Hwy, Mission, TX 78572
      View Details
    • Contact for pricing
      5,310 SF

      Mixed-Use Property with High Potential

      Mixed-use property with high traffic, alley access, and apartment.
      1321 N Conway Ave, Mission, TX 78572
      View Details
    • Contact for pricing
      2,395 SF

      New Retail Building For Sale

      New construction retail building with a corporate net lease.
      307 Expressway 83 E, Mission, TX 78572
      View Details
    • $155,000
      2,472 SF

      Commercial Drive-Thru Convenience Store

      Freestanding commercial drive-thru convenience store in a high-visibility location.
      100 S Minnesota Rd, Mission, TX 78572
      View Details

    Similar Nearby for Lease

    • $5,200 /Mo
      4,587 SF

      Versatile Commercial Space in Mission,TX

      4,587 sq ft space suitable for various businesses.
      1154 Expressway 83, 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
    • $1,100 /Mo
      1,830 SF

      Palmview Commercial Space For Lease

      1,124 SF commercial space ideal for restaurant or meat market.
      804 W Veterans Blvd, Palmview, TX 78572
      View Details
    • $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
    • Contact for pricing

      Retail Space in Sharyland Towne

      Retail space available in shopping center anchored by HEB.
      2401 Expressway 83 E, Mission, TX 78572
      View Details
    • Contact for pricing

      Retail Space Available For Lease

      Inline retail space available, can be divided.
      808 S Shary Rd, Mission, TX 78572
      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.
    1502 Business Hwy 83
    Mission, TX 78572
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!