7209 Mile 6Weslaco, TX 78599

Property Details for 7209 Mile 6

Year built

2005

Lot size

8.25 AC

Property size (Sq ft)

3,942 SF

Zone code

RS

Property type

Bars

Property subtype

Pubs

APN

P4407-00-000-0001-00

APU

P440700000000100

Description

This exceptional 8.251-acre property in Weslaco, Texas, presents a unique investment opportunity. Located at 7209 N Mile 6 W, this prime commercial land boasts a substantial existing restaurant building spanning over 3,900 square feet, complete with a sizable outdoor area ideal for events. The property also includes a two-story, 1,600 square foot residential home featuring three bedrooms and two bathrooms. Built in 2005, this versatile property is situated at a high-traffic corner in a rapidly developing area of North Weslaco, offering excellent visibility and accessibility. The property's zoning allows for a variety of uses, including restaurant, bar, or potential subdivision development. Additional features include a horse stable and ample space for expansion or future development. The asking price is $999,000. This property is situated on the southwest corner of the intersection of Mile 12 and Mile 6 (Westgate), offering excellent visibility and access. The property is located in Hidalgo County, Texas, zip code 78599. This is a rare opportunity to acquire a substantial property with existing structures and significant development potential in a thriving area.

• CAP approach

  CAP return

  Valuation

  6%

  $796,316

  6.5%

  $735,060

  7%

  $682,556

• Comparable approach

  Method

  Valuation

  Relative Method

  $856,608

  Geo Method

  $2,257,664

• Alternative Use

  Use

  Valuation

  Residential

  $620,051

  Hospitality

  $567,963

  Educational

  $472,539

  Medical

  $488,790

  Retail

  $735,060

Location Insight

City

Weslaco

County

Hidalgo

State

Texas

Latitude

26.227

Longitude

-98.0096

CBSA code

32580

CBSA name

MCALLEN-EDINBURG-MISSION, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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