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    Property profile & analytics

    2515 Colorado St Mission, TX 78572

    • Strip malls
    • 13,720 SF
    • 1.58 lot acres
    For Lease
    View listing
    $112 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US83-1453694
    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

    • Zoom Makeup & Brow Studio / Hair Salon / Nail Salon
    • La Ganadera Gourmet Meat Market / Specialty Food Shop
    • Real Fit Nutrition / Specialty Food Shop
    • Cuates Taco Shop / Restaurant
    • THE COMMONS a cowork space+ business suites / Coworking & Hybrid Office

    Property Details for 2515 Colorado St

    Year built
    2016
    Lot size
    1.58 lot acres
    Property size
    13,720 SF
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    S1819-00-002-0002-00
    APU
    S181900002000200

    Description

    This exceptional commercial property, located at 2515 Colorado Street #2 in Mission, Texas, 78572, presents a unique investment opportunity. The property encompasses 1.581 acres of land and features a single-tenant office space totaling 80 square feet. The property's APN is S181900002000200. While there are no dedicated parking spaces on-site, the location offers convenient access to amenities. The building itself is part of a larger complex, "The Commons," a full-service luxury business and co-working space. Amenities within The Commons include a thoughtfully designed lobby, individual private offices, a conference room, a break room with a coffee bar, Butterflymx tech-friendly access control, 24/7 member access, individual mailboxes, and a professional business address. Janitorial services and a private tenant entrance are also provided. The surrounding St. Lucia Plaza offers additional conveniences, including a coffee shop, meal prep services, a cycling and yoga studio, and beauty and wellness businesses. This property is ideal for a small business seeking a flexible and cost-effective workspace within a vibrant and supportive community. Note that a one-time $200 setup/move-in fee applies.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,520,000
      Market price range: $711k - $1.74M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $1,285,000
      Current use
      COMMERCIAL (GENERAL)
      $1,995,000
      Change: +55% Conversion: Easy
      OFFICE BUILDING
      $1,940,000
      Change: +51% Conversion: Moderate
      RETAIL STORES
      $1,910,000
      Change: +49% Conversion: Easy
      AUTO REPAIR, GARAGE
      $1,780,000
      Change: +39% Conversion: Difficult
      RESTAURANT
      $1,440,000
      Change: +12% Conversion: Difficult
      MEDICAL BUILDING
      $1,335,000
      Change: +4% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Mission
    County
    Hidalgo
    State
    Texas
    Longitude
    -98.2817
    Latitude
    26.1913
    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
    $37,768
    $595,711
    $881,371
    $1,477,082
    -
    $595,711
    $881,371
    $1,477,082

    Comparable in this City

    • Value Estimation
      $1,035,000
      7,690 SF

      2401 Interstate Hwy 2nd 2

      SHOPPING CENTER, STRIP CENTER • 7,690 SF
      2401 Interstate Hwy 2nd 2, Mission, TX 78572-9364
      View Details
    • Value Estimation by Request
      500 SF

      Off Of Stewart

      SHOPPING CENTER, STRIP CENTER • 500 SF
      Off Of Stewart, Mission, TX 78572
      View Details
    • Value Estimation
      $1,440,000
      23,500 SF

      1123 9th St

      SHOPPING CENTER, STRIP CENTER • 23,500 SF
      1123 9th St, Mission, TX 78572-5465
      View Details
    • Value Estimation
      $1,655,000
      13,120 SF

      4415 Conway Ave

      SHOPPING CENTER, STRIP CENTER • 13,120 SF
      4415 Conway Ave, Mission, TX 78572
      View Details
    • Value Estimation
      $670,000
      9,940 SF

      2016 Shary Rd

      SHOPPING CENTER, STRIP CENTER • 9,940 SF
      2016 Shary Rd, Mission, TX 78572-3235
      View Details
    • Value Estimation by Request
      2,250 SF

      900 Stewart Rd

      SHOPPING CENTER, STRIP CENTER • 2,250 SF
      900 Stewart Rd, Mission, TX 78572-6460
      View Details

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    Similar Nearby for Lease

    • $18 SF/Yr
      18,853 SF

      Retail Strip Center in Mission

      High-traffic retail center with flexible leasing opportunities.
      1600 N Conway Ave, Mission, TX 78572
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    • $18 SF/Yr
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      Retail Strip Center in Mission

      High-traffic retail center with flexible leasing opportunities.
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      View Details
    • $22 SF/Yr
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      Retail Strip Center in Mission

      Retail/office/medical space in a high-traffic Mission location.
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    • Contact for pricing
      1,785 SF

      Retail Space in Mission, Texas

      Retail space available in shopping center anchored by HEB.
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      Retail Space in Mission, Texas

      Retail space available in Sharyland Towne Crossing.
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    • Contact for pricing
      4,100 SF

      Retail Space on Conway Avenue

      Retail space available with high traffic volume in Mission, TX.
      2405 N Conway Ave, Mission, TX 78572
      View Details
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    2515 Colorado St
    Mission, 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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