New Fourplex with Security
For Sale
Contact for pricing
11507 N 24th Lane, McAllen, TX 78504
Fully leased multifamily property with LG kitchen appliances and camera coverage at the front and rear.
Property Size3,996 SF
Price / SF$135.11
Days on Market173
Property Features for 11507 N 24th Lane
General Information
Standard status
Active
Size
3,996 SF
Total Parking Spaces
8
Property subtype
Multifamily
Occupancy
100%
Additional Details
Multifamily Units
4
Amenities
LG kitchen appliances
front and rear security camera systems
Building Details
Year Built
2026
Buildings
2
Units
4
Listing Agency:
LPT Realty LLC
(956) 207-1121
Listed By:
cynthia Lugo
Source:
Crexi
Added: Mar 12
Changed: Aug 30
Last Checked: Aug 30 at 8:21PM
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 LPT Realty LLC
Investment Insights
Based on property information with market context.
This fourplex contains 3,996 square feet and was built in 2026. The property is fully leased and includes LG kitchen appliances, along with security camera systems serving both the front and rear of the building. Durable materials and quality construction are identified among the property’s improvements.
The asset is located in North Park Subdivision in McAllen, with access to shopping, dining, schools, and major roads. Its four-unit configuration and leased status provide a defined residential income property profile.
The asset is located in North Park Subdivision in McAllen, with access to shopping, dining, schools, and major roads. Its four-unit configuration and leased status provide a defined residential income property profile.
Key Highlights
- Fourplex totaling 3,996 square feet
- Built in 2026
- Fully leased four‑unit property
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
$36,108
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
6.69%
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%
$722,160
$722.2K
Cap Rate 7%
$515,829
$515.8K
Cap Rate 9%
$401,200
$401.2K
Market Conditions
NOI Build-Up for 3,996 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
$55.1K $13.80/SF
− Vacancy
−$3.6K −$0.89/SF
EGI
$51.6K $12.91/SF
− OpEx
−$15.5K −$3.87/SF
NOI
$36.1K $9.04/SF
Area
McAllen, TX
Vacancy
6.46%
Lease Rate
$13.80 /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%
$722,160
Cap Rate 7%
$515,829
Cap Rate 9%
$401,200
Alternative Uses
Best Use
Multifamily LT 5
$515.8K
$451.4K – $601.8K
NOI $36,108 @ 7.0% cap · market cap 6.69%
Second Best
Apartment 5plus
$474.0K
$414.8K – $553.1K
NOI $33,183 @ 7.0% cap · market cap 6.15%
Theoretical Best
Office A
$1.09M
$949.5K – $1.27M
NOI $75,956 @ 7.0% cap · market cap 14.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
49
Businesses Nearby
Explore this area
Business Placement
Demographics for 78504, TX
56,830
Population
21,417
Households
2.7
Avg Household Size
35
Median Age
40%
College-Educated
86%
High-School Grad
19.6 sq mi
ZIP Area
2,899
Density / Sq Mi
$77,627
Median Household Income
$41,632
Median Earnings
$1,178
Median Rent
$203,900
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Fully leased multifamily property with LG kitchen appliances and camera coverage at the front and rear.
Where is this quadplex located?
The property is located at 11507 N 24th Lane McAllen, TX.
What is the asking price?
The asking price for this property is $539,900.
What are key features of this property?
This property features: Fourplex totaling 3,996 square feet; Built in 2026; Fully leased four‑unit property
