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

    1620 La Homa Rd Palmview, TX 78574-5506

    • Strip malls
    • 4,360 SF
    • 0.44 lot acres
    OFF-MARKET
    Last Sale
    Jul 13, 2021
    Value Estimations
    $275,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-2392846
    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

    • Carli FR / Clothing Store
    • Lash & Beauty Cartel / Beauty Salon
    • Uno Cleaning McAllen / House Cleaning Service / Commercial Cleaning Service

    Property Details for 1620 La Homa Rd

    Year built
    2020
    Lot size
    0.44 lot acres
    Property size
    4,360 SF
    Zone code
    RS
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    B1900-24-000-0057-00
    APU
    B190024000005700

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $225,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $321,000
      Market price range: $201k - $377k

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $305,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Palmview
    County
    Hidalgo
    State
    Texas
    Longitude
    -98.3595
    Latitude
    26.2462
    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
    $9,387
    $61,776
    $284,836
    $346,612
    -
    $61,776
    $284,836
    $346,612

    Comparable in this City

    • Value Estimation
      $245,000
      2,886 SF

      2710 Conway Ave

      SHOPPING CENTER, STRIP CENTER • 2,886 SF
      2710 Conway Ave, Mission, TX 78574-2143
      View Details
    • Value Estimation
      $275,000
      3,463 SF

      Mission, TX 78574

      SHOPPING CENTER, STRIP CENTER • 3,463 SF
      Mission, TX 78574
      View Details
    • Value Estimation
      $225,000
      3,300 SF

      Mission, TX 78574

      SHOPPING CENTER, STRIP CENTER • 3,300 SF
      Mission, TX 78574
      View Details
    • Value Estimation
      $300,000
      9,669 SF

      Mission, TX 78574

      SHOPPING CENTER, STRIP CENTER • 9,669 SF
      Mission, TX 78574
      View Details
    • Value Estimation
      $275,000
      4,263 SF

      8700 Alton Spgs St

      SHOPPING CENTER, STRIP CENTER • 4,263 SF
      8700 Alton Spgs St, Mission, TX 78574-5303
      View Details
    • Value Estimation
      $280,000
      8,616 SF

      6204 La Homa Rd

      SHOPPING CENTER, STRIP CENTER • 8,616 SF
      6204 La Homa Rd, Mission, TX 78574-0989
      View Details

    Similar Nearby for Sale

    • New
      $450,000
      3.95 Acres

      Mission, TX Commercial Land Opportunity

      Prime commercial or multi-family location with high traffic.
      2210 W 5 Mile Line Rd, Mission, TX 78574
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    • $1,400,000
      3,656 SF

      Mission Retail Center - Prime Location

      3,656 SF Shopping Center/Storefront
      3206 Shary Rd, Mission, TX 78574
      View Details
    • Contact for pricing
      10,049 SF

      Retail Property on Conway Avenue

      Retail property with pad sites on Conway & FM 495.
      2305 N Conway Ave, Mission, TX 78574
      View Details
    • $750,000
      1,705 SF

      Alton Commercial Property on 4.28 Acres

      Commercial property with 1700 sq ft building on 4.28 acres.
      2525 North Moorefield Rd West, Mission, TX 78574
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    • $270,000
      1,200 SF

      Mission, TX Corner Store Property

      Corner lot store with coolers, display racks, and snack prep.
      7403 Edgar St, Mission, TX 78574
      View Details
    • $950,000
      1.23 Acres

      Mission Commercial Plaza Investment

      High-Traffic Location, Income Producing
      6200 La Homa Rd, Mission, TX 78574
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      170,622 SF

      Shops At 495: Mission, TX Retail

      Mission, TX retail space available. Seven units.
      2301 Conway Ave, Mission, TX 78574
      View Details
    • $2,000 /Mo
      1,200 SF

      Corner Lot Commercial Property

      Drive-through convenience store on a corner lot in Mission, TX.
      6128 Mile 5 Rd, Mission, TX 78574
      View Details
    • $19 SF/Yr
      1,104 SF

      Mission, TX Commercial Building

      Highway 107 Retail/Office Space
      3009 Mile 7 Rd, Mission, TX 78574
      View Details
    • $1,500 /Mo
      3,296 SF

      Mission, TX Warehouse For Rent

      3,200 SF warehouse suitable for auto shop or retail.
      3800 Brandy St, Mission, TX 78574
      View Details
    • Contact for pricing
      4,746 SF

      Retail Space in Los Milagros

      Retail space in Los Milagros neighborhood with frontage to S. Shary Rd.
      2401 S Shary Rd, Mission, TX 78574
      View Details
    • $30 SF/Yr
      2,200 SF

      Prime Commercial Land, La Homa Rd

      2.36 Acres, 7 Parking Spaces, New Construction
      00 La Homa Rd, Mission, TX 78574
      View Details
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    1620 La Homa Rd
    Palmview, TX 78574-5506
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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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