Three-Suite Office and
For Sale
$319,000
1112 S 23rd St, McAllen, TX 78501
Three-suite commercial property with two leased office suites and one vacant warehouse-style suite.
Property Size2,910 SF
Price / SF$109.62
Days on Market95
Property Features for 1112 S 23rd St
General Information
Standard status
Active
Size
2,910 SF
Additional Details
Highway Access
Yes
Office Units
3
Building Details
Year Built
1973
Tenancy
Multi
Listing Agency:
Element Realty, LLC
Listed By:
Allyza Trevino
Source:
Aregtx
Added: Jul 21
Changed: Oct 14
Last Checked: Oct 7 at 5:11PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Element Realty, LLC
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Investment Insights
Based on property information with market context.
This for-sale commercial property includes three separate suites within an office building configuration. Suite A and Suite B are currently leased and generating existing income. Suite C is vacant and presented as a warehouse-style space, offering flexibility for a range of commercial uses such as retail, storage, or a specialty shop.
The building is described as located right off Expressway 83 in McAllen, Texas. Current tenants listed include a phone repair shop and a meat market.
The property’s current layout supports a mixed configuration of leased office space alongside an open warehouse-style suite, making it suitable for an owner seeking immediate occupancy coverage plus a separate space that can be delivered for a new tenant.
The building is described as located right off Expressway 83 in McAllen, Texas. Current tenants listed include a phone repair shop and a meat market.
The property’s current layout supports a mixed configuration of leased office space alongside an open warehouse-style suite, making it suitable for an owner seeking immediate occupancy coverage plus a separate space that can be delivered for a new tenant.
Key Highlights
- Office building built in 1973 with three separate suites
- Suite A and Suite B are currently leased, providing existing cash flow
- Suite C is vacant and offers warehouse‑style space for potential retail, storage, or specialty use
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,460
Cap Rate
6.73%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$429,200
$429.2K
Cap Rate 7%
$306,571
$306.6K
Cap Rate 9%
$238,444
$238.4K
Market Conditions
NOI Build-Up for 2,910 SF
Gross rent
$26.2K $9.00/SF
− Vacancy
−$943 −$0.32/SF
EGI
$25.2K $8.68/SF
− OpEx
−$3.8K −$1.30/SF
NOI
$21.5K $7.37/SF
Area
McAllen, TX
Vacancy
3.60%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$429,200
Cap Rate 7%
$306,571
Cap Rate 9%
$238,444
Alternative Uses
Best Use
Office B
$556.5K
$487.0K – $649.3K
NOI $38,958 @ 7.0% cap · market cap 12.21%
Second Best
Warehouse
$306.6K
$268.3K – $357.7K
NOI $21,460 @ 7.0% cap · market cap 6.73%
Theoretical Best
Office A
$790.2K
$691.4K – $921.9K
NOI $55,313 @ 7.0% cap · market cap 17.34%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Lease Details
3
Office units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
899
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - Three-suite commercial property with two leased office suites and one vacant warehouse-style suite.
Where is this office unit located?
The property is located at 1112 S 23rd St McAllen, TX.
What is the asking price?
The asking price for this property is $319,000.
What are key features of this property?
This property features: Office building built in 1973 with three separate suites; Suite A and Suite B are currently leased, providing existing cash flow; Suite C is vacant and offers warehouse‑style space for potential retail, storage, or specialty use
