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

    3 Mile Mission, TX 78573

    • Strip malls
    • 11,894 SF
    • 1.57 lot acres
    OFF-MARKET
    Value Estimations
    $550,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-6716036
    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

    • Laredo Taco Company / Restaurant

    Property Details for 3 Mile

    Year built
    2018
    Lot size
    1.57 lot acres
    Property size
    11,894 SF
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    W0100-00-033-0001-06
    APU
    W010000033000106

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $425,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $678,000
      Market price range: $426k - $1.05M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $720,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Mission
    County
    Hidalgo
    State
    Texas
    Longitude
    -98.342
    Latitude
    26.2626
    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
    $17,480
    $159,802
    $707,022
    $866,824
    -
    $159,802
    $707,022
    $866,824

    Comparable in this City

    • Value Estimation by Request
      5,249 SF

      3012 Main Ave

      SHOPPING CENTER, STRIP CENTER • 5,249 SF
      3012 Main Ave, Alton, TX 78573-0907
      View Details
    • Value Estimation
      $1,080,000
      18,460 SF

      4121 Conway Ave

      SHOPPING CENTER, STRIP CENTER • 18,460 SF
      4121 Conway Ave, Mission, TX 78573-1636
      View Details
    • Value Estimation by Request
      1,872 SF

      2616 Main Ave

      SHOPPING CENTER, STRIP CENTER • 1,872 SF
      2616 Main Ave, Alton, TX 78573-5890
      View Details
    • Value Estimation by Request
      4,214 SF

      1905 Main Ave

      SHOPPING CENTER, STRIP CENTER • 4,214 SF
      1905 Main Ave, Alton, TX 78573-6803
      View Details
    • Value Estimation
      $1,025,000
      29,250 SF

      306 Main Ave

      SHOPPING CENTER, STRIP CENTER • 29,250 SF
      306 Main Ave, Alton, TX 78573-6943
      View Details
    • Value Estimation by Request
      9,280 SF

      2109 Mile 3rd Rd

      SHOPPING CENTER, STRIP CENTER • 9,280 SF
      2109 Mile 3rd Rd, Mission, TX 78573-5073
      View Details

    Similar Nearby for Sale

    • $2,203,586
      6,783 SF

      Alton Plaza: Retail Investment

      High-yield Texas retail center, 100% occupied.
      301 Alton Blvd, Alton, TX 78573
      View Details
    • $895,000
      6,233 SF

      Fully Leased Commercial Plaza

      Fully leased commercial plaza in high-traffic area near major retailers.
      220 Alton Blvd, Mission, TX 78573
      View Details
    • $1,400,000
      8,827 SF

      Alton Commercial Plaza For Sale

      Fully leased commercial plaza in high-traffic Alton location.
      2115 E Main Ave, Mission, TX 78573
      View Details
    • $275,000

      Mission, TX Restaurant Opportunity

      Prime Commercial Land, High Traffic Area
      104 Mayberry Rd, Mission, TX 78573
      View Details
    • $1,090,000
      8,296 SF

      Mission, TX Investment Opportunity

      Fully leased residential and drive-thru property with stable cash flow.
      1921 Main Ave, Mission, TX 78573
      View Details
    • $899,000

      Mission, TX Turnkey Business Opportunity

      Meat Market, Convenience Store, & More!
      1824 Garland Dr, Mission, TX 78573
      View Details

    Similar Nearby for Lease

    • $20 SF/Yr
      1,440 SF

      9,998 SF Plaza Space Available

      Office and retail spaces available in high-traffic Mission plaza.
      10400 N 103Rd St, Mission, TX 78573
      View Details
    • $20 SF/Yr
      9,998 SF

      Retail Space in Plaza Emmanuel

      Retail suites available for lease in high-traffic Mission location.
      10211 Mile 7 Rd, Mission, TX 78573
      View Details
    • $1,100 /Mo
      4,477 SF

      New Business Plaza in Alton

      New business suites available in Alton, TX near intersection.
      514 S Alton Blvd, Mission, TX 78573
      View Details
    • $3,369 /Mo
      2,450 SF

      High-Visibility Retail Space Available

      Retail space with high traffic and expansion options.
      4322 N Conway Ave, Mission, TX 78573
      View Details
    • $2,800 /Mo
      1,760 SF

      Alton Commercial Property For Lease

      Commercial property for lease in high-traffic Alton location.
      610 S Alton Blvd, Mission, TX 78573
      View Details
    • $1,100 /Mo
      4,477 SF

      New Business Plaza Retail Suites

      New retail suites available for lease in Alton, Texas.
      514 S Alton Blvd, Mission, TX 78573
      View Details
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    3 Mile
    Mission, TX 78573
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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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