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    703 Griffin Pkwy Mission, TX 78572
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    703 Griffin Pkwy Mission, TX 78572

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    • Commercial real estate
    • 3.96 lot acres
    Off-Market
    Property ID
    US82-7083167
    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

    • Commercial real estate

    Property Details for 703 Griffin Pkwy

    Lot size
    3.96 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional commercial land offering presents three buildable retail pads totaling 3.96 acres. Located at 703 W Griffin Pkwy in Mission, Texas, 78572, this fee-simple property boasts a prime location at the heavily trafficked intersection of Conway and Griffin Parkway. The site is part of a larger 10-acre tract and is ideally suited for free-standing retail buildings or a retail strip center. Surrounding the property is a mix of established retail businesses and dense residential areas, ensuring a strong customer base. The asking price is $16 per square foot, reflecting a land value of $16 per square foot. This represents a compelling investment opportunity for owner-users seeking a high-visibility location in a thriving Texas market. The property's Class A designation underscores its quality and desirability. Strong traffic counts and excellent visibility make this an exceptional opportunity for businesses seeking maximum exposure. The site is ready for development, offering immediate access to a robust consumer market. This is a rare chance to acquire a well-positioned commercial property in a rapidly growing area. The property is for sale by owner.

    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
    -98.3303115
    Latitude
    26.2296763

    Comparable in this City

    • $580,000
      3.00 Acres

      Palmview Commercial Land Opportunity

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      Palmview Commercial Property for Sale

      Prime commercial property with multiple buildings and rental potential.
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    • $185,000
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      Commercial Land in Mission, Texas

      Prime commercial property in a growing area of Mission, Texas.
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      2,257 SF

      Corner Lot on Griffin Parkway

      High-visibility corner lot with development potential in Mission, Texas.
      2218 Tangelo Ave, Mission, TX 78572
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    • $465,000
      0.62 Acres

      Corner Lot on Griffin Parkway

      Prime commercial lot in high-traffic area with development potential.
      2218 Tangelo Ave, Mission, TX 78572
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    Similar Nearby for Sale

    • Contact for pricing

      Mission, Texas Commercial Corner Site

      6.33-acre commercial site with high visibility and accessibility.
      700 S Conway Ave, Mission, TX 78572
      View Details
    • $580,000
      3.00 Acres

      Palmview Commercial Land Opportunity

      3-acre commercial tract near major retail development.
      S Showers Rd S, Palmview, TX 78572
      View Details
    • Contact for pricing
      3,655 SF

      Palmview Commercial Property for Sale

      Prime commercial property with multiple buildings and rental potential.
      1317 W Palma Vista Dr, Palmview, TX 78572
      View Details
    • $185,000
      0.51 Acres

      Commercial Land in Mission, Texas

      Prime commercial property in a growing area of Mission, Texas.
      1512 W Business 83 Hwy, Mission, TX 78572
      View Details
    • Contact for pricing
      2,257 SF

      Corner Lot on Griffin Parkway

      High-visibility corner lot with development potential in Mission, Texas.
      2218 Tangelo Ave, Mission, TX 78572
      View Details

    Similar Nearby for Lease

    • $19 SF/Yr
      3,344 SF

      Palmview Restaurant Opportunity

      Fully equipped, high-traffic location
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    • $28 SF/Yr
      1,183 SF

      Mission Commercial Plaza: Executive Office Space

      Prime Mission location, 1,183 sq ft, ample parking.
      608 Shary Rd, Mission, TX 78572
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    • Contact for pricing

      Prime Retail Location in Mission

      High-traffic retail space for rent in Mission, Texas.
      2500 E Expressway 83, Mission, TX 78572
      View Details
    • $1.15 SF/Yr

      Retail Space Near Event Center

      Two-story retail space near a planned Wyndham Hotel.
      1200 Shary Rd, Mission, TX 78572
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    • $18 SF/Yr
      18,853 SF

      Retail Strip Center in Mission

      High-traffic retail center with flexible leasing opportunities.
      1600 N Conway Ave, Mission, TX 78572
      View Details
    • $2,750 /Mo
      1,183 SF

      Retail Space on Shary Road

      1,183 SF retail space in ready-to-use condition.
      608 N Shary Rd, Mission, TX 78572
      View Details
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    703 Griffin Pkwy
    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.

    More about this property
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