Three-Suite Office and
1112 S 23rd St McAllen, TX 78501
New
For Sale
$319,000
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 Market4
Property Features for 1112 S 23rd St
General Information
- Standard status
- Active
- Size
- 2,910 SF
Building Details
- Year Built
- 1973
Listing Agency:
Element Realty, LLC
Listed By:
Allyza Trevino
Source:
Aregtx
Added: Jul 21
Changed: Jul 22
Last Checked: Jul 23 at 5:21AM
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
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 For Warehouse
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 | $26.2k | $9.00 |
| − Vacancy | −$943 | −$0.32 |
| EGI | $25.2k | $8.68 |
| − OpEx | −$3.8k | −$1.30 |
| NOI | $21.5k | $7.37 |
2,910 SF · lease $9.00/SF/yr · vacancy 3.60% · expense 15.00%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
McAllen Memorial Monuments ...
General Contractor
ESCADA BEEF DISTRIBUTORS ...
Butcher
Masterstitch LLC
Factory
Etsy Templates 770
Marketing & Advertising
Multicolor Paint, Llc
Hardware & Home Improvement
FAQs
What type of property is this?
Office units - Three-suite commercial property with two leased office suites and one vacant warehouse-style suite.
Where is this office units 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
