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    Property profile & analytics

    615 Business 83 Weslaco, TX 78596

    • Warehouses
    • 18,896 SF
    • 10.15 lot acres
    OFF-MARKET
    Last Sale
    Jan 29, 2024
    Value Estimations
    $595,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-7175447
    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

    • Fiesta Tex Mex / Mexican Restaurant / Tex-Mex Restaurant

    Property Details for 615 Business 83

    Year built
    1970
    Lot size
    10.15 lot acres
    Property size
    18,896 SF
    Property type
    Warehouses
    APN
    W3800-00-056-0000-01
    APU
    W380000056000001

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $580,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $825,000
      Market price range: $697k - $1.93M

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

    Location Insight

    • Map
    • Local Demand
    City
    Weslaco
    County
    Hidalgo
    State
    Texas
    Longitude
    -97.9762
    Latitude
    26.1581
    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
    $15,355
    $502,425
    $97,474
    $599,899
    -
    $502,425
    $97,474
    $599,899

    Comparable in this City

    • Value Estimation by Request
      6.75 Acres

      3222 Expy 83 Hwy

      Manufacturing properties • 6.75 Acres
      3222 Expy 83 Hwy, Weslaco, TX 78596
      View Details
    • Value Estimation
      $265,000
      1,920 SF

      Agostadero St

      WAREHOUSE, STORAGE • 1,920 SF
      Agostadero St, Weslaco, TX 78596
      View Details
    • Value Estimation
      $320,000
      1,200 SF

      2521 Border Ave

      WAREHOUSE, STORAGE • 1,200 SF
      2521 Border Ave, Weslaco, TX 78596
      View Details
    • Value Estimation
      $300,000
      4,714 SF

      3929 Business 83

      WAREHOUSE, STORAGE • 4,714 SF
      3929 Business 83, Weslaco, TX 78596-3657
      View Details
    • Value Estimation
      $1,465,000
      72,775 SF

      417 18th St

      MINI-WAREHOUSE, STORAGE • 72,775 SF
      417 18th St, Weslaco, TX 78596-8031
      View Details
    • Value Estimation
      $305,000
      900 SF

      1804 6th St

      WAREHOUSE, STORAGE • 900 SF
      1804 6th St, Weslaco, TX 78596
      View Details

    Similar Nearby for Sale

    • $3,750,000
      6.75 Acres

      Weslaco Industrial Property - $3.75M

      Prime Weslaco warehouse & retail space, 6.75 acres.
      3222 Expy 83 Hwy, Weslaco, TX 78596
      View Details
    • $899,000
      8,160 SF

      Weslaco Industrial Property

      8,160 SF Warehouse, Vacant, $899K
      0 Mile 2 1/2, Weslaco, TX 78596
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    • $819,940
      13.80 Acres

      Versatile Land with Warehouse and Residence

      13.8 acres with warehouse, storage, and residential house.
      1015 Fm 1015, Weslaco, TX 78596
      View Details
    • $1,200,000

      Prime Weslaco Mixed-Use Property

      High-Income Potential, Versatile Space
      1504 Pike Blvd, Weslaco, TX 78596
      View Details
    • $750,000
      4,500 SF

      Weslaco Warehouse Investment Opportunity

      High-traffic commercial warehouse, owner financing available.
      3500 Expressway 83, Weslaco, TX 78596
      View Details
    • $428,000
      4,750 SF

      Business 83 Mixed-Use Property

      2-acre property with shop, warehouse, and residence.
      3925 W Business 83, Weslaco, TX 78596
      View Details

    Similar Nearby for Lease

    • $6 SF/Yr
      22,000 SF

      Industrial Space with Dock High Loading

      Industrial lease space available with office and fenced storage yards.
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    • $18 SF/Yr
      2,750 SF

      Weslaco Commercial Land Opportunity

      Prime .48-acre lot, build-to-suit available.
      503 Illinois Ave, Weslaco, TX 78596
      View Details
    • $1,300 /Mo
      1,250 SF

      Versatile Commercial Space Available

      1,250 SF space ideal for office, retail, or medical.
      623 S Texas Blvd, Weslaco, TX 78596
      View Details
    • $15 SF/Yr
      3,600 SF

      Weslaco Retail Space for Lease

      High-traffic retail space in prime Weslaco location
      1601 Us Hwy Business 83 St, San Juan, TX 78596
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    • $15 SF/Yr
      9,600 SF

      Weslaco Medical Office Space

      Prime Medical Office, Weslaco, TX
      1525 6Th St, Weslaco, TX 78596
      View Details
    • Contact for pricing
      170 SF

      Weslaco Office Suite for Lease

      Prime Weslaco location, 170 sq ft office.
      150 Texas Blvd, Weslaco, TX 78596
      View Details
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    615 Business 83
    Weslaco, TX 78596
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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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