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    203 W Mile 3 Rd Mission, TX 78573
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    203 W Mile 3 Rd Mission, TX 78573

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    • Day care centers
    • 7,500 SF
    • 1.87 lot acres
    For Sale
    $880,000
    View Listing →
    Versatile Commercial Property in Mission For Sale
    $880,000
    7,500 SF

    Versatile Commercial Property in Mission

    Prime commercial property with endless possibilities in a high-traffic location.

    203 W Mile 3 Road, Mission, TX 78573
    View Listing
    Property ID
    US82-5342712
    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

    • Day care centers

    Property Details for 203 W Mile 3 Rd

    Year built
    2002
    Lot size
    1.87 lot acres
    Property size
    7,500 SF
    Property type
    Day care centers
    Property subtype
    Retail properties & Spaces

    Description

    This exceptional 7,500-square-foot commercial property in Mission, Texas, presents a versatile investment opportunity. Located on a 1.87-acre lot at 203 W Mile 3 Road, 78573, this single-story, 2002-built building currently operates as a daycare center. Its prime location near a high-traffic commercial intersection with surrounding new developments offers significant potential. The property boasts ample parking with 50 spaces and features multiple large interior rooms suitable for various uses. The adaptable layout makes it ideal for conversion into a church, adult daycare, event center, or other businesses. The expansive outdoor area provides additional possibilities. This property offers entrepreneurs, organizations, and investors a chance to create a custom space tailored to their specific needs. The property's APN is W0100-00-032-0006-18. The price per square foot is $119.33.

    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
    Palmhurst
    County
    Hidalgo
    State
    Texas
    Longitude
    -98.3217
    Latitude
    26.2578

    Comparable in this City

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      11037 Mile 7th Rd

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      11037 Mile 7th Rd, Mission, TX 78573-2906
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    • Value Estimation by Request
      3,743 SF

      122 Alton Blvd

      DAY CARE, PRE-SCHOOL • 3,743 SF
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    • Value Estimation by Request
      4,000 SF

      212 Glasscock Blvd

      DAY CARE, PRE-SCHOOL • 4,000 SF
      212 Glasscock Blvd, Alton, TX 78573-5808
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    • Value Estimation by Request
      2,164 SF

      305 Glasscock Blvd

      DAY CARE, PRE-SCHOOL • 2,164 SF
      305 Glasscock Blvd, Alton, TX 78573-5952
      View Details
    • Value Estimation by Request
      2,162 SF

      2605 Main Ave, Unit 2

      DAY CARE, PRE-SCHOOL • 2,162 SF
      2605 Main Ave, Mission, TX 78573-4211
      View Details
    • Value Estimation by Request
      7,838 SF

      118 Stewart Blvd

      DAY CARE, PRE-SCHOOL • 7,838 SF
      118 Stewart Blvd, Alton, TX 78573-5941
      View Details

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    Similar Nearby for Lease

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    • Contact for pricing
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      1,400 SF finished office space suitable for various uses.
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      High-Visibility Retail Space Available

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      New Business Plaza in Alton

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      Retail Space in High-Traffic Area

      Retail space for lease in a high-traffic location.
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      View Details
    View Listing
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    203 W Mile 3 Rd
    Mission, TX 78573
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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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