Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1623 Central Blvd Brownsville, TX 78520-8326

    • Commercial real estate
    • 21,968 SF
    • 1.03 lot acres
    OFF-MARKET
    Last Sale
    Feb 17, 2023
    Value Estimations
    $3,450,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-2362312
    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

    • IBC Bank / Bank / Loan Service
    • Garden of Hope Counseling PLLC / Crisis Center / Medical Clinic
    • Texas MLS Real Estate Photography / Photography Service / (Bike/Boat/Book/etc) Store
    • Bob Richardson & Associates Inc / Financial Advisor
    • Real Connect Realty / Real Estate Agency

    Property Details for 1623 Central Blvd

    Year built
    1975
    Lot size
    1.03 lot acres
    Property size
    21,968 SF
    Zone code
    C
    Property type
    Commercial real estate
    APN
    01-9330-2010-0380-00
    APU
    193302010038000

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,705,000
      6.5%
      $3,420,000
      7%
      $3,180,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $3,473,000
      Market price range: $1.25M - $4.26M

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

    Location Insight

    • Map
    • Local Demand
    City
    Brownsville
    County
    Cameron
    State
    Texas
    Longitude
    -97.5119
    Latitude
    25.9271
    CBSA code
    15180
    CBSA name
    BROWNSVILLE-HARLINGEN, 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
    2023
    $27,841
    $202,500
    $2,197,500
    $2,400,000
    -
    $202,500
    $2,197,500
    $2,400,000

    Comparable in this City

    • Value Estimation by Request

      706 12Th St

      Land
      706 12Th St, Brownsville, TX 78520
      View Details
    • Value Estimation by Request
      766,639 SF

      802 Us Hwy 77 & State Hwy

      Individual retail properties • 766,639 SF
      802 Us Hwy 77 & State Hwy, Brownsville, TX 78520
      View Details
    • Value Estimation by Request
      1.01 Acres

      Ruben M Torres Blvd

      Land • 1.01 Acres
      0 Ruben M Torres Blvd, Brownsville, TX 78520
      View Details
    • Value Estimation by Request
      4,240 SF

      295 Frontage Rd

      Commercial real estate • 4,240 SF
      295 Frontage Rd, Brownsville, TX 78520
      View Details
    • Value Estimation by Request
      0.81 Acres

      9765 Us Hwy 281

      COMMERCIAL (GENERAL) • 0.81 Acres
      9765 Us Hwy 281, Brownsville, TX 78520-9855
      View Details
    • Value Estimation by Request
      0.07 Acres

      424 Jefferson St

      COMMERCIAL (GENERAL) • 0.07 Acres
      424 Jefferson St, Brownsville, TX 78520-6062
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      3.00 Acres

      Brownsville Pad Sites - Military Hwy

      3 Acres, High-Traffic Location, Prime Development
      0 Military Hwy Flor De Mayo Rd, Brownsville, TX 78520
      View Details
    • $3,200,000
      5.40 Acres

      Brownsville Warehouse - $3.2M

      Spacious warehouse, flexible use, 5.4 acres.
      1014 Central Blvd, Brownsville, TX 78520
      View Details
    • $449,000
      1.01 Acres

      Brownsville Commercial Land - Lot 3

      Prime 1-acre retail lot, high traffic area.
      0 Ruben M Torres Blvd, Brownsville, TX 78520
      View Details
    • $6,800,000
      32,546 SF

      2101 Central Blvd, Brownsville, TX 78520

      Commercial real estate • 32,546 SF
      2101 Central Blvd, Brownsville, TX 78520
      View Details
    • Contact for pricing

      Brownsville Commercial Land Pads

      Prime Brownsville location, high-traffic area.
      1462 Us Highway 281, San Benito, TX 78520
      View Details
    • $625,000
      5,626 SF

      Brownsville Retail Space - Great Location

      High-traffic retail space with warehouse. Ideal for various businesses.
      234 Elizabeth St, Brownsville, TX 78520
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Brownsville Industrial Land - 388 Acres

      Prime Texas industrial land, ideal for rail & port operations.
      281 & New Carmen Ave, Brownsville, TX 78520
      View Details
    • Contact for pricing

      Central Blvd. Special Purpose Space

      Single-tenant space, ample parking, prime location.
      1200 Central Blvd, Brownsville, TX 78520
      View Details
    • $1,000 /Mo
      553 SF

      Acapulco Office For Lease - 553 SF Of Open Area

      Acapulco Office For Lease - 553 SF Of Open Area
      735 MEDIA LUNA ST Suite Acapulco, Brownsville, TX 78520
      View Details
    • Contact for pricing
      55,942 SF

      Palm Village Retail Center

      Brownsville, TX: Prime Retail Space Available
      1400 Palm Blvd, Brownsville, TX 78520
      View Details
    • $15 SF/Yr
      7,554 SF

      Retail Space Available For Rent

      7554 square feet retail space available for rent.
      185 Ruben M Torres Blvd, Brownsville, TX 78520
      View Details
    • Contact for pricing

      Prime Retail Land For Lease

      Strategically located land in a high-traffic retail area.
      3401 Old Highway 77, Brownsville, TX 78520
      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.
    1623 Central Blvd
    Brownsville, TX 78520-8326
    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.