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

    2708 Griffin Pkwy E E Ste Mission, TX 78572-3309

    • Strip malls
    • 1,500 SF
    • 0.09 lot acres
    OFF-MARKET
    Value Estimations
    $235,000
    Show details
    Cap Rate Potential
    9.4%
    Strip malls
    Location Intelligence
    Property ID
    US82-3361039
    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

    • Piel Canela Esthetix / Beautician
    • Texas Special Olympics / Social Services Organization
    • Redeem Center, HCS, TXHML / ISS CENTER / Assisted Living Facility
    • Corn Madre / Snack Bar
    • Glamour Nights Tuxedo & More / Tuxedo Shop

    Property Details for 2708 Griffin Pkwy E E Ste

    Year built
    1995
    Lot size
    0.09 lot acres
    Property size
    1,500 SF
    Zone code
    CO
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    S5320-00-000-0007-00
    APU
    S532000000000700

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $230,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $365,000
      6.5%
      $335,000
      7%
      $310,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $139,000
      Market price range: $77.7k - $191k

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $140,000
      Current use
      COMMERCIAL (GENERAL)
      $220,000
      Change: +55% Conversion: Easy
      OFFICE BUILDING
      $210,000
      Change: +51% Conversion: Moderate
      RETAIL STORES
      $210,000
      Change: +49% Conversion: Easy
      AUTO REPAIR, GARAGE
      $195,000
      Change: +39% Conversion: Difficult
      MEDICAL BUILDING
      $145,000
      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
    -98.2765
    Latitude
    26.2228
    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
    $3,462
    $57,380
    $78,002
    $135,382
    -
    $57,380
    $78,002
    $135,382

    Comparable in this City

    • Value Estimation
      $415,000
      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
      $210,000
      500 SF

      Off Of Stewart

      SHOPPING CENTER, STRIP CENTER • 500 SF
      Off Of Stewart, Mission, TX 78572
      View Details
    • Value Estimation
      $805,000
      23,500 SF

      1123 9th St

      SHOPPING CENTER, STRIP CENTER • 23,500 SF
      1123 9th St, Mission, TX 78572-5465
      View Details
    • Value Estimation
      $370,000
      13,120 SF

      4415 Conway Ave

      SHOPPING CENTER, STRIP CENTER • 13,120 SF
      4415 Conway Ave, Mission, TX 78572
      View Details
    • Value Estimation
      $390,000
      9,940 SF

      2016 Shary Rd

      SHOPPING CENTER, STRIP CENTER • 9,940 SF
      2016 Shary Rd, Mission, TX 78572-3235
      View Details
    • Value Estimation
      $365,000
      2,250 SF

      900 Stewart Rd

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

    Similar Nearby for Sale

    • Contact for pricing
      10,049 SF

      Retail Property with Pad Sites

      Retail property featuring pad sites, high traffic, and ample space.
      302 W Griffin Pkwy, Mission, TX 78572
      View Details
    • $675,000

      Palmview Commercial Property Investment

      Prime Texas location, two buildings, ample parking.
      315 Veterans Blvd, Palmview, TX 78572
      View Details
    • $495,000

      Prime Palmview Commercial Land

      High-traffic location, 32,927 sq ft lot.
      2304 Expy 83 Hwy, Mission, TX 78572
      View Details
    • $149,000
      Pending

      Mission, TX Commercial Space

      Commercial space suitable for a car lot or food trucks.
      000 Expy 83 Hwy, Mission, TX 78572
      View Details
    • $450,000
      2,544 SF

      Palmview Commercial Property on Corner Lot

      Large corner lot with high visibility and traffic for business.
      4500 Expressway 83 W, Mission, TX 78572
      View Details
    • $225,000

      Prime Palmview Commercial Land

      Executive Office Building, 21,780 sq ft lot
      303 Veterans Blvd, Palmview, TX 78572
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr
      18,853 SF

      Mission, TX Mixed-Use Plaza

      Mixed-use plaza with high visibility and traffic volume.
      1600 N Conway Ave, Mission, TX 78572
      View Details
    • $18 SF/Yr
      18,853 SF

      Mission, TX Mixed-Use Plaza

      Mixed-use plaza with high visibility, traffic, and nearby retailers.
      1604 N Conway Ave, Mission, TX 78572
      View Details
    • Contact for pricing
      1,785 SF

      Retail Space in Mission, Texas

      Retail space available in shopping center anchored by HEB.
      201 S Shary Rd, Mission, TX 78572
      View Details
    • Contact for pricing
      2,500 SF

      Retail Space in Mission, Texas

      Retail space available in Sharyland Towne Crossing.
      2901 Expressway 83 E, Mission, TX 78572
      View Details
    • 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
    • Contact for pricing
      11,600 SF

      Mission Retail Space For Lease

      Prime Retail Space in Mission, TX
      808 Shary Rd, Mission, TX 78572
      View Details
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    Mission, TX 78572-3309
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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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