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    Operating Restaurant on Commercial Land Title is generated by Realmo AI

    1002 N Tower Road, Alamo, TX 78516

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    Claim this Listing
    New
    For Sale
    $449,000

    COMMERCIAL - Alamo, TX

    Property size:
    2,766 SF
    Lot size:
    1.10 Acres
    Price / SF:
    $162/SF
    Added:
    Jun 3, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 4 at 1:06 pm

    Property Features for 1002 N Tower Road

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Parking
    10
    Appliances
    Electric Water Heater
    Standard status
    Active
    APN
    A180000041000600
    Size
    2,766 SF
    Lot size
    1.10 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    3840

    Utilities

    Heating system
    Central
    Cooling system
    Central Air

    Building Details

    Year built
    1963
    Floors in Building
    2
    Building materials
    Wood Siding
    Roof type
    Shingle

    We can help!

    Listing Contact
    Trisha Scott
    Trisha Scott

    Listing agent Trisha Scott

    Listing office Veale Properties 1604 N 8th Street, McAllen, TX

    Listing date Jun 3, 2026

    MLS# 506235

    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.

    HighLights

    • Approximately 1.10‑acre commercial site in Alamo
    • Operating restaurant on the property with potential to continue, expand, or redevelop
    • Central heating and central air conditioning
    • Wood siding exterior with shingle roof
    • Electric water heater
    • Built in 1963

    Overview

    This for-sale property at 1002 N Tower Road in Alamo includes an operating restaurant and a commercial lot of approximately 1.1 acres. The site totals about 2,766 square feet for the restaurant portion, while the surrounding land area provides flexibility for additional improvements, parking, or future commercial development, subject to applicable approvals.

    The property is positioned for strong customer-facing visibility and convenient access, and it is described as being in a high-traffic area. Surrounding context includes residential neighborhoods, businesses, schools, and major thoroughfares, supporting a mix of day-to-day demand drivers.

    For a buyer or owner-operator, the existing restaurant setup allows for continued operation, while the generous lot size can also support options such as expanding the footprint or adjusting site use over time. For developers or investors, the combination of an operating business and substantial land area provides a practical platform to evaluate redevelopment, expansion, and other commercial plans where permitted.

    Local Financial Insights For Specialty Retail

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $56.8k $20.52
    − Vacancy −$3.2k −$1.17
    EGI $53.5k $19.35
    − OpEx −$13.4k −$4.84
    NOI $40.1k $14.51
    2,766 SF · lease $20.52/SF/yr · vacancy 5.70% · expense 25.00%

    Alternative Uses

    Best Use
    Specialty Retail
    $573.5K
    $501.8K – $669.0K (±1% cap)
    NOI $40,142 @ 7.0% cap · market cap 8.94%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Hotel Hospitality
    $2.08M
    $1.82M – $2.43M (±1% cap)
    NOI $145,837 @ 7.0% cap · market cap 32.48%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Conventional restaurants

    Suggested Use

    Restaurant Real Estate Agency Building Supply Spa & Massage Center Dental Office Hair Salon Auto Repair Shop Nail Salon Hotel & Motel Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Alamo
    County
    Hidalgo
    State
    Texas
    Longitude
    -98.107457
    Latitude
    26.202002

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    FAQs

    What type of property is this?
    Conventional restaurant - Operating restaurant on roughly 1.1 acres, offering visibility and convenient access with room for additional improvements.
    Where is this conventional restaurant located?
    The property is located at 1002 N Tower Road Alamo, TX.
    What is the asking price?
    The asking price for this property is $449,000.
    What are key features of this property?
    This property features: Approximately 1.10‑acre commercial site in Alamo; Operating restaurant on the property with potential to continue, expand, or redevelop; Central heating and central air conditioning
    (956) 329-9090
    We can help!
    Listing Contact
    Trisha Scott
    Trisha Scott
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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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