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    2534 E Griffin Pkwy Mission, TX 78572
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    Property profile & analytics

    2534 E Griffin Pkwy, Mission, TX 78572

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    • Strip malls
    • 3,000 SF
    • 0.19 lot acres
    For Sale
    $1,500,000
    View Listing →
    Established Commercial Property For Sale For Sale
    $1,500,000

    Established Commercial Property For Sale

    Prime commercial property with established clientele in a sought-after area.

    2534 E Griffin Parkway, Mission, TX 78572
    View Listing
    Property ID
    US82-6771635
    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

    • La Estacion Bakery / Restaurant

    Property Details for 2534 E Griffin Pkwy

    Year built
    2006
    Lot size
    0.19 lot acres
    Zone code
    CO
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    S3007-00-000-0013-00
    APU
    S300700000001300

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Sep 8, 2020 — Eduardo A Bejar — Deed · related $248k · Rio Bk
    Aug 26, 2020 — Bejar Holdings Ltd Eduardo Bejar Quit Claim Deed · related —
    Feb 27, 2019 — Eduardo A Bejar — Deed · related $110k · Rio Bk
    Jan 19, 2018 — Eduardo A Bejar — Deed · related $250k · Rio Bk
    Dec 12, 2016 — Eduardo A Bejar — Deed Of Trust · related $250k · Rio Bk
    Feb 12, 2013 — Eduardo Bejar Elizondo,paul JR & Cynthia Warranty Deed $150k · First National Bank
    — — Eduardo A Bejar — Loan Modification · related $110k · Rio Bk
    — — Bejar,eduardo — Deed Of Trust · related $300k · Texas Nat'l Bk
    — — Eduardo A Bejar — Deed Of Trust · related $188k · Rio Bk
    — — Eduardo A Bejar — Loan Modification · related $250k · Rio Bk
    — — Eduardo A Bejar — Loan Modification · related $248k · Rio Bk

    Description

    This exceptional commercial property, located at 2534 E Griffin Parkway in Mission, Texas, presents a unique investment opportunity. The 16,980.124 square foot lot is zoned for commercial and restaurant use, offering significant potential for a variety of businesses. Built in 2006, the property benefits from an already established clientele and enjoys a highly desirable location with excellent foot traffic and high visibility. This turnkey opportunity is ideal for entrepreneurs seeking immediate business potential or established companies looking to expand their operations. The property's strong reputation and location within the thriving Hidalgo County market ensure a reliable and potentially lucrative investment. The asking price for this prime commercial land is $1,600,000. The property's address is easily accessible, situated in the 78572 zip code of Mission, Texas. This location offers immediate access to a large and loyal customer base, making it an attractive proposition for those seeking a successful and established business venture. The property's size and location make it suitable for a wide range of commercial uses, offering flexibility and adaptability for future growth. This is a rare opportunity to acquire a well-established commercial property in a prime location.

    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
    Mission
    County
    Hidalgo
    State
    Texas
    Longitude
    -98.2801
    Latitude
    26.2231
    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
    $9,651
    $128,184
    $249,247
    $377,431
    -
    $128,184
    $249,247
    $377,431

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      View Details

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    Similar Nearby for Lease

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      High-traffic retail center with flexible leasing opportunities.
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      High-traffic retail center with flexible leasing opportunities.
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      Retail Space in Mission, Texas

      Retail space available in Sharyland Towne Crossing.
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      View Details
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    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.

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