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

    Griffin Pkwy Pharr, TX 78577

    • Strip malls
    • 11,990 SF
    • 0.79 lot acres
    OFF-MARKET
    Last Sale
    Feb 22, 2024
    Value Estimations
    $625,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-6120868
    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 Griffin Pkwy

    Year built
    2009
    Lot size
    0.79 lot acres
    Property size
    11,990 SF
    Zone code
    CO
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    S6458-00-000-0002-00
    APU
    S645800000000200

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $410,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $834,000
      Market price range: $457k - $1.21M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $825,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Pharr
    County
    Hidalgo
    State
    Texas
    Longitude
    -98.3269
    Latitude
    26.2306
    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
    $27,549
    $256,317
    $825,512
    $1,081,829
    -
    $256,317
    $825,512
    $1,081,829

    Comparable in this City

    • Value Estimation
      $1,975,000
      42,230 SF

      1701 Cage Blvd

      SHOPPING CENTER, STRIP CENTER • 42,230 SF
      1701 Cage Blvd, Pharr, TX 78577-9575
      View Details
    • Value Estimation
      $1,230,000
      22,520 SF

      7311 Jackson Rd

      SHOPPING CENTER, STRIP CENTER • 22,520 SF
      7311 Jackson Rd, Pharr, TX 78577-0333
      View Details
    • Value Estimation
      $730,000
      10,080 SF

      1501 Cage Blvd

      SHOPPING CENTER, STRIP CENTER • 10,080 SF
      1501 Cage Blvd, Pharr, TX 78577-6359
      View Details
    • Value Estimation
      $1,425,000
      12,005 SF

      1233 Cage Blvd Ste, Unit 106

      SHOPPING CENTER, STRIP CENTER • 12,005 SF
      1233 Cage Blvd Ste, Pharr, TX 78577-5964
      View Details
    • Value Estimation by Request
      3,075 SF

      946 Nolana Loop

      SHOPPING CENTER, STRIP CENTER • 3,075 SF
      946 Nolana Loop, Pharr, TX 78577-7662
      View Details
    • Value Estimation by Request
      9,996 SF

      131 Park Ave

      SHOPPING CENTER, STRIP CENTER • 9,996 SF
      131 Park Ave, Pharr, TX 78577-4849
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1,957 SF

      Pharr Retail Center Investment Opportunity

      Prime Retail Space, NNN Lease, Vacant
      703 Nolana Loop, Pharr, TX 78577
      View Details
    • $1,290,000
      1.77 Acres

      Income Producing Commercial Plaza

      Commercial plaza with land for multifamily project in Pharr.
      2900 S Cage Blvd, Pharr, TX 78577
      View Details
    • $2,583,000
      9,575 SF

      Versatile Commercial Property in Pharr

      Two-story commercial property with retail and office space.
      902 S Cage Blvd, Pharr, TX 78577
      View Details
    • $380,000
      460 SF

      Pharr Commercial Property For Sale

      Commercial property with office space on high-traffic street in Pharr.
      3301 N Veterans Blvd, Pharr, TX 78577
      View Details
    • $230,000
      1,800 SF

      Pharr Commercial Building For Sale

      Commercial building with two office suites in high-traffic location.
      2310 S Cage Blvd, Pharr, TX 78577
      View Details
    • $330,000
      1,692 SF

      Established Salon in Prime Location

      Thriving beauty salon with loyal clientele in high-traffic area.
      214 E Ferguson St, Pharr, TX 78577
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      15,900 SF

      Heb Grocery Center Retail Space

      High-traffic retail space near HEB. Excellent visibility.
      1300 Cage Blvd, Pharr, TX 78577
      View Details
    • $21 SF/Yr
      12,560 SF

      Sam Houston Plaza: Pharr, TX

      Prime Pharr Office/Retail Space
      1032 Sam Houston Blvd, Pharr, TX 78577
      View Details
    • $35 SF/Yr
      14,200 SF

      Retail Destination in Pharr Town Center

      Dynamic retail and entertainment destination in the Rio Grande Valley.
      1301 N Jackson Rd, Pharr, TX 78577
      View Details
    • $18 SF/Yr
      2,093 SF

      Pharr, TX Commercial Space Available

      Prime location, versatile space, ample parking.
      2506 Cage Blvd, Pharr, TX 78577
      View Details
    • $33 SF/Yr
      271 SF

      Prime Hwy 281 Office Space

      272 sq ft Office/Storage, Hwy 281
      1801 Us Hwy 281, Pharr, TX 78577
      View Details
    • $4 SF/Yr
      7,200 SF

      Prime I-2 Commercial Plaza

      7,200 SF Office/Retail Space Available
      404 Interstate 2, Pharr, TX 78577
      View Details
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    Griffin Pkwy
    Pharr, TX 78577
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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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