Retail Building with
For Sale
$599,000
809 N Ware Road, McAllen, TX 78501
Commercial Sale, McAllen, TX
Property Size2,790 SF
Lot Size0.20 Acres
Price / SF$214.70
Days on Market92
Property Features for 809 N Ware Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
CO
Parking
18
Security features
Security System
Patio and Porch features
Patio
Appliances
Water Heater (Other Location)
Subdivision
Villa Bonita
Lot features
Office Complex
Directions
https://maps.app.goo.gl/yVfUUfEMKCh9K4Fi9
Standard status
Active
APN
V347001000000700
Size
2,790 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7339
Utilities
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1998
Floors in Building
1
Building materials
Brick
Roof type
Flat
Listing Agency:
Cobos Real Estate Services LLC
(956) 802-1982
Listed By:
Alejandra E. Cobos · License #582452
(956) 628-4663
Added: Jun 10
Changed: Aug 31
Last Checked: Sep 9 at 3:06AM
MLS# 498964
Copyright © 2026 Greater McAllen Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,790-square-foot brick retail property, built in 1998, operates as a laundromat with 24 commercial washers, 28 dryers, coin changers, and vending machines. Most of the laundry equipment is under warranty. The building also contains four on-site rental offices; one is leased and three are vacant. Central heating and central air conditioning serve the property, which includes a patio, flat roof, and approximately 16 parking spaces.
Located at 809 N Ware Road in McAllen, the property is near the Ware Road and Pecan area. It carries CO zoning and occupies approximately 0.1989 acres in Hidalgo County. The existing combination of laundry operations and office space provides a defined retail configuration with additional on-site suites.
Located at 809 N Ware Road in McAllen, the property is near the Ware Road and Pecan area. It carries CO zoning and occupies approximately 0.1989 acres in Hidalgo County. The existing combination of laundry operations and office space provides a defined retail configuration with additional on-site suites.
Key Highlights
- Operating laundromat with 24 commercial washers and 28 dryers
- Most laundry equipment is under warranty; coin changers and vending machines included
- 2,790 square feet on approximately 0.1989 acres
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$39,822
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.65%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$796,440
$796.4K
Cap Rate 7%
$568,886
$568.9K
Cap Rate 9%
$442,467
$442.5K
Market Conditions
NOI Build-Up for 2,790 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$60.3K $21.60/SF
− Vacancy
−$3.4K −$1.21/SF
EGI
$56.9K $20.39/SF
− OpEx
−$17.1K −$6.12/SF
NOI
$39.8K $14.27/SF
Area
McAllen, TX
Vacancy
5.60%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$796,440
Cap Rate 7%
$568,886
Cap Rate 9%
$442,467
Alternative Uses
Best Use
Retail
$568.9K
$497.8K – $663.7K
NOI $39,822 @ 7.0% cap · market cap 6.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$757.6K
$662.9K – $883.9K
NOI $53,032 @ 7.0% cap · market cap 8.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Office units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
493
Businesses Nearby
Explore this area
Business Placement
Demographics for 78501, TX
60,817
Population
24,807
Households
2.5
Avg Household Size
37
Median Age
27%
College-Educated
77%
High-School Grad
15.5 sq mi
ZIP Area
3,924
Density / Sq Mi
$49,451
Median Household Income
$29,092
Median Earnings
$943
Median Rent
$149,000
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Brick retail property with laundry equipment, four offices, on-site parking, and central heating and cooling.
Where is this retail space located?
The property is located at 809 N Ware Road McAllen, TX.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Operating laundromat with 24 commercial washers and 28 dryers; Most laundry equipment is under warranty; coin changers and vending machines included; 2,790 square feet on approximately 0.1989 acres
