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

    1642 Griffin Pkwy Mission, TX 78572-3180

    • Retail space
    • 2,525 SF
    • 0.06 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-2671072
    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

    • Linda's Hair Design / Hair Salon / Nail Salon
    • New Life Nutrition / Restaurant
    • Lily Cosmetics/Microblading/Makeup/Threading / Medical Clinic / Skin Care Clinic

    Property Details for 1642 Griffin Pkwy

    Year built
    2006
    Lot size
    0.06 lot acres
    Property size
    2,525 SF
    Zone code
    CO
    Property type
    Retail space
    APN
    S6260-01-000-0007-00
    APU
    S626001000000700

    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
    -98.2982
    Latitude
    26.2258
    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
    $4,556
    $38,128
    $140,041
    $178,169
    -
    $38,128
    $140,041
    $178,169

    Comparable in this City

    • Value Estimation
      $17,285,000
      90,663 SF

      2504 Interstate Hwy 2nd 2

      RETAIL STORES (PERSONAL SERVICES) • 90,663 SF
      2504 Interstate Hwy 2nd 2, Mission, TX 78572-6696
      View Details
    • Value Estimation by Request
      4,200 SF

      715 6th St

      RETAIL STORES (PERSONAL SERVICES) • 4,200 SF
      715 6th St, Mission, TX 78572-5617
      View Details
    • Value Estimation
      $675,000
      4,750 SF

      915 Business Hwy 83

      RETAIL STORES (PERSONAL SERVICES) • 4,750 SF
      915 Business Hwy 83, Mission, TX 78572-3649
      View Details
    • Value Estimation by Request
      752 SF

      1600 Business Hwy 83

      RETAIL STORES (PERSONAL SERVICES) • 752 SF
      1600 Business Hwy 83, Mission, TX 78572-3428
      View Details
    • Value Estimation by Request
      1,250 SF

      516 Conway Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,250 SF
      516 Conway Ave, Mission, TX 78572-5356
      View Details
    • Value Estimation by Request
      1,000 SF

      701 Conway Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,000 SF
      701 Conway Ave, Mission, TX 78572-5359
      View Details

    Similar Nearby for Sale

    • $465,000
      0.62 Acres

      Corner Lot on Griffin Parkway

      Prime commercial lot in high-traffic area with development potential.
      2218 Tangelo Ave, Mission, TX 78572
      View Details
    • New
      $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
    • $80,000
      17,875 SF

      Established Business with Brand Heritage

      Turnkey operation with international brand recognition and loyal customer base.
      2713 E Griffin Pkwy - Plz, Mission, TX 78572
      View Details
    • $105,000
      19,847 SF

      Established Retail Business Opportunity

      Profitable retail business with inventory and equipment included for sale.
      2713 E Griffin Pkwy, Mission, TX 78572
      View Details
    • $1,500,000
      23,740 SF

      Mission, TX Commercial Opportunity

      Versatile 15,040 sq.ft. building on 0.69 acres.
      801 N Inspiration Rd, Mission, TX 78572
      View Details
    • New
      $350,000
      1,830 SF

      Versatile Commercial Property in Palmview

      Income-producing commercial property on a major corridor with high traffic.
      804 W Veterans Blvd, Mission, TX 78572
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,800 SF

      Retail Space Near HEB, Target

      Retail spaces available next to HEB and Target.
      2521 Expressway 83 E, Mission, TX 78572
      View Details
    • $1,100 /Mo
      1,000 SF

      Mission Retail/Office Space Available

      Cozy retail or office space with potential in Mission, TX.
      610 East 9Th St, Mission, TX 78572
      View Details
    • $5,500 /Mo
      4,587 SF

      Versatile Commercial Space For Lease

      4,587 sq ft commercial space suitable for various businesses.
      1154 Expressway 83, Mission, TX 78572
      View Details
    • $2,500 /Mo
      4,071 SF

      Retail Space in Mission, TX

      Retail space with high traffic, near shopping and amenities.
      1708 N Conway Ave, Mission, TX 78572
      View Details
    • New
      $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
    • $1.15 SF/Yr
      31,645 SF

      Retail Space Near Event Center

      Two-story retail space near a planned Wyndham Hotel.
      1200 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.
    1642 Griffin Pkwy
    Mission, TX 78572-3180
    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.