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- LoopNet Team
615 E Business 83
Weslaco, TX 78596
Land For Sale · 3.25 AC
Investment Highlights
- 3.25 Acres of Land Recently Subdivided from a Previously Developed Lot.
- Located in Industrial Zoning District with Value-Add Development Potential.
- Owner-User Opportunity Looking for Build-to-Suit Space or Industrial Outdoor Storage.
- 350 Feet Off East Business Highway 83, Features 200 Feet of Frontage on South Utah Avenue.
- Adjacent Lots Zoned Industrial, Offering Investors Synergy.
- One Mile Away from Interstate 2 Highway and Close Proximity to Mid-Valley Airport.
PROPERTY FACTS
Property Type | Land | Total Lot Size | 3.25 AC |
Property Subtype | Industrial |
Property Type | Land |
Property Subtype | Industrial |
Total Lot Size | 3.25 AC |
Description
Located in the Outlying Hidalgo County submarket, the property is positioned one mile away from Interstate 2 and a six-minute drive to Mid-Valley Airport. Outlying Hidalgo County is a relatively small submarket containing 9 million square feet of industrial space (CoStar). At the midway point in 2023, the vacancy rate dropped to 3.3 percent with the average lease-up time declining to only 4.2 months. Tight supply has helped keep market rents elevated, rising 7.3 percent annually. Going into the back half of 2023, there was only a single property under construction measuring 253,000 square feet, which represents just 2.8 percent of the inventory (CoStar). In the near term, new supply will have a minimum impact on vacancies and rents, especially among small industrial properties. The property’s location should be heightened for the foreseeable future due to the industrial demand for border markets such as Outlying Hidalgo County. The McAllen-Edinburg-Mission metro is located 250 miles south of San Antonio near the Texas-Mexico border and encompasses Hidalgo County. The metro’s proximity to Mexico makes trade and logistics important drivers of the local economy. The University of Texas, Rio Grande Valley has facilities in Edinburg, McAllen and Weslaco. The Rio Grande River also runs through the area, providing recreational opportunities for locals and visitors. The metro is growing at a rapid pace and is expected to add 90,200 residents over the next five years. The metro’s location on the Texas-Mexico border has turned the area into a trade hub. As a result, several logistics companies are located there. The metro has a strong healthcare sector, encompassing roughly one-third of the local employment base. The region maintains the largest land port for fresh produce imports from Mexico, with 160,000 loads of produce transported in a typical year.
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PROPERTY TAXES
Parcel Number | W3800-00-056-0000-01 | Improvements Assessment | $97,474 |
Land Assessment | $502,425 | Total Assessment | $599,899 |
PROPERTY TAXES
zoning
Zoning Code | Industrial (Industrial Land) |
Industrial (Industrial Land) |
Learn More About Investing in Land
Listing ID: 29121793
Date on Market: 7/27/2023
Last Updated:
Address: 615 E Business 83, Weslaco, TX 78596
The Land Property at 615 E Business 83, Weslaco, TX 78596 is no longer being advertised on LoopNet.com. Contact the broker for information on availability.