Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3002 Mi 11 3, TX

    • Strip malls
    • 3,910 SF
    • 0.50 lot acres
    OFF-MARKET
    Value Estimations
    $690,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-7358697
    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

    • Strip malls

    Property Details for 3002 Mi 11

    Year built
    2018
    Lot size
    0.50 lot acres
    Property size
    3,910 SF
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    H0405-00-000-0033-00
    APU
    H040500000003300

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $530,000
      RETAIL STORES
      $465,000
      COMMERCIAL (GENERAL)
      $415,000

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

    Location Insight

    • Map
    • Local Demand
    City
    3
    County
    Hidalgo
    State
    Texas
    Longitude
    -97.9631
    Latitude
    26.2135
    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
    $6,117
    $85,008
    $239,992
    $325,000
    -
    $85,008
    $239,992
    $325,000

    Comparable in this City

    • Value Estimation
      $4,810,000
      35,382 SF

      1010-1006 Jackson Ave

      SHOPPING CENTER, STRIP CENTER • 35,382 SF
      1010-1006 Jackson Ave, Mcallen, TX
      View Details
    • Value Estimation
      $2,055,000
      15,355 SF

      Evans Rd, TX

      SHOPPING CENTER, STRIP CENTER • 15,355 SF
      Evans Rd, TX
      View Details
    • Value Estimation
      $1,420,000
      10,210 SF

      Cesar Chavez Rd, TX

      SHOPPING CENTER, STRIP CENTER • 10,210 SF
      Cesar Chavez Rd, TX
      View Details
    • Value Estimation by Request
      1,423 SF

      Expressway

      SHOPPING CENTER, STRIP CENTER • 1,423 SF
      Expressway, 83, TX
      View Details
    • Value Estimation by Request
      1,300 SF

      Expressway

      SHOPPING CENTER, STRIP CENTER • 1,300 SF
      Expressway, 83, TX
      View Details
    • Value Estimation by Request
      1,300 SF

      Expressway

      SHOPPING CENTER, STRIP CENTER • 1,300 SF
      Expressway, 83, TX
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      39,291 SF

      Retail Space at The Boardwalk

      Compact retail space in a well-established, highly accessible retail center.
      23535 I-10, San Antonio, TX
      View Details
    • $6,160,000
      10,433 SF

      Freeway Retail Center For Sale

      Retail center with high-quality construction and tenant profile.
      19752-19764 Fwy North, Spring, TX
      View Details
    • $998,000

      Retail Strip Center For Sale

      Retail strip center in Mauriceville with high visibility.
      11261 Hghway 12, Orange, TX
      View Details
    • $13,100,000

      Retail Property Near New HEB

      Retail property shadow-anchored by HEB and Memorial Hermann Care Center.
      4550-4625 Kingwood Dr, Kingwood, TX
      View Details
    • $4,000,000
      26,530 SF

      Dallas Retail Strip Center Opportunity

      26,530 SF retail strip center in Dallas for sale.
      3101 Al Lipscomb Way, Dallas, TX
      View Details
    • $3,155,000
      5,350 SF

      New Retail Strip Center For Sale

      New retail strip center shadow-anchored by ALDI in Midlothian, TX.
      310 Harvest Hl Dr, Midlothian, TX
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,997 SF

      Retail Space in High-Traffic Area

      New retail space with high visibility and tenant allowance.
      818 Us 82, Gainesville, TX
      View Details
    • Contact for pricing
      4,085 SF

      Retail Space in Stone Oak

      Retail space available in a power center with national tenants.
      22802 Us-281, San Antonio, TX
      View Details
    • Contact for pricing
      15,380 SF

      Retail Space on Highway 287

      Retail space with excellent frontage and visibility on Hwy 287.
      131 Vlg Pkwy, Waxahachie, TX
      View Details
    • Contact for pricing
      13,266 SF

      Future Retail Space on I-30

      Future retail space with excellent visibility and access.
      I-30 Frontage Rd & Mims Rd, Rockwall, TX
      View Details
    • Contact for pricing
      1,700 SF

      Retail Space in Parkwood Plaza

      Retail space for lease in rapidly growing North Fort Worth.
      8424 Lakewood Hl Dr, Fort Worth, TX
      View Details
    • Contact for pricing
      3,500 SF

      Retail Space in Balch Springs

      Shopping strip with spaces for lease in Balch Springs.
      635 And Lk June Rd, Balch Springs, TX
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3002 Mi 11
    3, TX
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.