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

    24040 Fm 506 La Feria, TX 78559-3913

    • Industrial properties
    • 9,000 SF
    • 1.00 lot acres
    OFF-MARKET
    Last Sale
    Apr 02, 2020
    Value Estimations
    $305,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-3991694
    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

    • Industrial properties

    Property Details for 24040 Fm 506

    Year built
    1984
    Lot size
    1.00 lot acres
    Property size
    9,000 SF
    Zone code
    C
    Property type
    Industrial properties
    APN
    85-5380-0770-0501-00
    APU
    8553800770050100

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $380,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $233,000
      Market price range: $201k - $948k

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $485,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    La Feria
    County
    Cameron
    State
    Texas
    Longitude
    -97.8253
    Latitude
    26.2095
    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
    2024
    $3,101
    $34,400
    $202,355
    $186,785
    -
    $34,400
    $202,355
    $236,755

    Comparable in this City

    • Value Estimation by Request

      221 Of Expy

      Distribution properties
      221 Of Expy, La Feria, TX 78559
      View Details
    • Value Estimation by Request
      10,260 SF

      11818 Business 83

      Distribution properties • 10,260 SF
      11818 Business 83, La Feria, TX 78559
      View Details
    • Value Estimation by Request
      4.80 Acres

      330 B R Rd

      Land • 4.80 Acres
      330 B R Rd, La Feria, TX 78559
      View Details
    • Value Estimation by Request
      14,100 SF

      221 Expressway 83

      Distribution properties • 14,100 SF
      221 Expressway 83, La Feria, TX 78559
      View Details
    • Value Estimation
      $460,000
      12,122 SF

      4100 Expy 83

      INDUSTRIAL (GENERAL) • 12,122 SF
      4100 Expy 83, La Feria, TX 78559
      View Details
    • Value Estimation
      $445,000
      7,950 SF

      301 Industrial Way

      INDUSTRIAL (GENERAL) • 7,950 SF
      301 Industrial Way, La Feria, TX 78559
      View Details

    Similar Nearby for Sale

    • $750,000
      Pending

      La Feria Commercial Lot

      Commercial lot on Expressway 83 with three warehouses.
      10164 Expressway 83, La Feria, TX 78559
      View Details
    • $169,000
      10.65 Acres

      La Feria Residential Land - 10 Acres

      Build Your Dream Home in Texas!
      0 Fm 506, La Feria, TX 78559
      View Details
    • $375,000
      5 SF

      Commercial Land Parcel in La Feria

      5.25-acre commercial land parcel off Business 83.
      North Citrus Dr, La Feria, TX 78559
      View Details
    • $2,240,000
      140.00 Acres

      La Feria Development Tract

      140-acre development tract with city water and irrigation.
      W Cantu Rd, La Feria, TX 78559
      View Details
    • $200,000
      3,320 SF

      Multifamily Investment Opportunity in LA FERIA

      Multifamily property with duplex, mobile home, apartment, and camper.
      13973 Pomegranite Ln, La Feria, TX 78559
      View Details
    • $80,000
      0.85 Acres

      Residential Lot in La Feria

      0.85 acre residential lot in a quiet cul-de-sac.
      00 Taylor Rd, La Feria, TX 78559
      View Details

    Similar Nearby for Lease

    • $7 SF/Yr
      14,100 SF

      Prime La Feria Industrial Land

      1.63-acre lot, 14,100 sq ft, 70 parking spaces.
      221 Of Expy, La Feria, TX 78559
      View Details
    • $13 SF/Yr
      14,100 SF

      Freestanding Warehouse on I-2

      14,100 SF Flex Space, Multiple Tenants
      221 Expressway 83, La Feria, TX 78559
      View Details
    • $15 SF/Yr
      66,000 SF

      La Feria Commercial Business Park

      66,000 SF business park with excellent visibility and frontage access.
      2807 Expressway 83 W, La Feria, TX 78559
      View Details
    • $12 SF/Yr
      12,068 SF

      La Feria Showroom/Warehouse Lease

      Showroom/warehouse buildings available for lease in La Feria, Texas.
      221-305 Expressway 83, La Feria, TX 78559
      View Details
    • $13 SF/Yr
      14,100 SF

      La Feria Industrial Property Investment

      1.63 Acres, 14,100 sq ft, 70 Parking Spaces
      221 Of Expy, La Feria, TX 78559
      View Details
    • Contact for pricing

      La Feria Special Purpose Building

      Former Church, Spacious, High Visibility
      317 Magnolia Ave, La Feria, TX 78559
      View Details
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    24040 Fm 506
    La Feria, TX 78559-3913
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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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