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

    2113 Griffin Pkwy Palmview, TX 78572

    • Commercial real estate
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-6912078
    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

    • Commercial real estate

    Property Details for 2113 Griffin Pkwy

    Property type
    Commercial real estate

    Description

    This exceptional 34,412.4 square foot commercial lot is strategically located in Mission, Texas, at 2113 W Griffin Pkwy, zip code 78572. Situated in Hidalgo County, this prime property boasts excellent visibility and accessibility, making it an ideal location for a variety of commercial ventures. The lot is conveniently positioned between a Dollar General and a Dollar Tree, directly across from a new residential development, and surrounded by other established commercial businesses. This ensures high traffic flow and significant exposure for any future development. The property's location on a major Mission thoroughfare guarantees substantial visibility and easy access for customers and employees. The asking price for this exceptional opportunity is $275,000. This is a rare chance to acquire a highly desirable commercial land parcel in a thriving Texas market, ready for immediate development. The property's size and location present a unique opportunity for investors and developers seeking a high-return investment in a rapidly growing area. Don't miss this chance to secure a prime piece of Mission, Texas commercial real estate.

    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
    Palmview
    County
    Hidalgo
    State
    Texas
    Longitude
    -98.352197014549
    Latitude
    26.233553641814

    Comparable in this City

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      McAllen Commercial Land - 2.69 Acres

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    • $1,150,000

      Mission, TX Commercial Plaza

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    • $245,120

      Prime Palmview Commercial Land

      15,320 SF lot, excellent visibility.
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    • $98,500

      Prime Palmview Commercial Land

      High-traffic lot, ideal for investors.
      1526 Us Hwy, Palmview, TX 78572
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    • $490,000
      19.60 Acres

      Mission, TX Land - 19.6 Acres

      Prime Hidalgo County acreage, ideal for development.
      0 Abram Rd, Mission, TX 78572
      View Details

    Similar Nearby for Sale

    • $1,100,000
      2.69 Acres

      McAllen Commercial Land - 2.69 Acres

      Prime McAllen commercial land, ideal for development.
      3801 Us Hwy Business 83 Hwy, Mission, TX 78572
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    • $950,000
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      Prime McAllen Multifamily Land

      4.49-acre commercial development opportunity.
      0000 State Hwy 107 Hwy, McAllen, TX 78572
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    • $1,150,000

      Mission, TX Commercial Plaza

      High-Yield Restaurant & Retail Investment
      806-810 Expressway 83, Mission, TX 78572
      View Details
    • $245,120

      Prime Palmview Commercial Land

      15,320 SF lot, excellent visibility.
      401 Palma Vis Dr, Palmview, TX 78572
      View Details
    • $98,500

      Prime Palmview Commercial Land

      High-traffic lot, ideal for investors.
      1526 Us Hwy, Palmview, TX 78572
      View Details
    • $490,000
      19.60 Acres

      Mission, TX Land - 19.6 Acres

      Prime Hidalgo County acreage, ideal for development.
      0 Abram Rd, Mission, TX 78572
      View Details

    Similar Nearby for Lease

    • $20 SF/Yr
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      Mission, TX Commercial Land & Office

      1.58-acre Office Space, Single Tenant
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      Palmview Restaurant Opportunity

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    • $700 /Mo
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      Vacant Lot For Rent

      Vacant lot for rent in high traffic location.
      83 Tbd Expy W, Mission, TX 78572
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    • $20 SF/Yr
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      Prime Palmview Office & Land

      1,233 sq ft Office, High Visibility, Ample Parking
      1215 Expy, Palmview, TX 78572
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    2113 Griffin Pkwy
    Palmview, TX 78572
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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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