623 International BlvdWeslaco, TX 78596

Property Details for 623 International Blvd

Year built

1988

Lot size

2.00 AC

Property size (Sq ft)

7,488 SF

Zone code

RS

Property type

Office buildings

APN

B3660-00-000-0002-00

APU

B366000000000200

Description

This exceptional investment opportunity presents a 7,488-square-foot traditional office building situated on a two-acre lot in Weslaco, Texas. The property, located at 623 S International Blvd, boasts a strategic location between Business 83 and Interstate 2, providing easy access to the Progreso International Bridge (8 miles away) and Weslaco Mid Valley Regional Airport (3 miles). The building, constructed in 1989, currently enjoys 100% occupancy with a lease expiring June 29, 2024. This lease provides a strong income stream for the buyer until the lease expiration. The tenant has historically been a government entity or contractor. In addition to the office space, the property includes 6,814 square feet of covered parking and garages, complemented by paved parking and a secure gated fence. The asking price is $992,000, translating to $132.48 per square foot. This owner-user investment presents a rare opportunity to acquire a well-maintained, income-producing property in a high-traffic area with excellent access to major transportation routes and the Mexican border. The property's history of government tenancy suggests stability and potential for long-term lease renewals.

• CAP approach

  CAP return

  Valuation

  6%

  $1,137,714

  6.5%

  $1,050,198

  7%

  $975,183

• Comparable approach

  Method

  Valuation

  Relative Method

  $707,469

  Geo Method

  $1,701,798

• Alternative Use

  Use

  Valuation

  Residential

  $1,302,245

  Hospitality

  $1,192,849

  Educational

  $992,437

  Medical

  $1,026,568

  Retail

  $1,543,790

Location Insight

City

Weslaco

County

Hidalgo

State

Texas

Latitude

26.1541

Longitude

-97.9569

CBSA code

32580

CBSA name

MCALLEN-EDINBURG-MISSION, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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