McAllen Medical Property For
1201 E Expy 83 McAllen, TX
1201 E Expy 83, McAllen, TX, 00000
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For Sale
Contact for pricing
Single-tenant medical property with long-term net lease in McAllen, TX.
Property Size12,996 SF
Lot Size1.40 Acres
Price / SF$420.82
Days on Market312
Property Features for 1201 E Expy 83
General Information
- Standard status
- Active
- Size
- 12,996 SF
- Lot size
- 1.40 Acres
- Property subtype
- OFFICE
Listing Agency
Colliers
(949) 724-5552
Listed by
Jereme Snyder · License #01809955
(949) 724-5552
Source
Moodyscre
Added: Sep 9, 2025 Checked: Jul 17 at 3:18 am
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 Colliers
Investment Insights
Based on property information with market context.
This single-tenant property in McAllen, TX, is net-leased to CenterWell Senior Primary Care Center, a subsidiary of Humana, Inc. The property features a new-construction building of 12,996 square feet on a 1.63-acre parcel. The net lease has over 10 years remaining in the primary term, with four 5-year option periods and 10% rental increases every 5 years during option periods. Landlord responsibilities are limited. The property is positioned as an outparcel to The Home Depot and Jackson Palmer Crossing Shopping Center. It is located along E Expressway 83, which sees over 29,200 vehicles per day, and is adjacent to Interstate 2, with over 121,400 vehicles per day. Nearby retailers include Walmart Supercenter, Sam’s Club, Target, Costco, Lowe’s Home Improvement, Dick’s Sporting Goods, Topgolf, Chase Bank, Bank of America, McDonald’s, Chick-fil-A, Raising Cane’s, Chipotle, and Whataburger. This property is suitable for investors seeking a long-term medical/retail asset with a corporate guarantee.
Key Highlights
- Long‑term net lease with over 10 years remaining
- Corporate guarantee from Humana, Inc. (NYSE: HUM)
- New construction (12,996 SF) on a large 1.63‑acre parcel
Local Financial Insights For Office B
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 | $272.9k | $21.00 |
| − Vacancy | −$40.9k | −$3.15 |
| EGI | $232.0k | $17.85 |
| − OpEx | −$58.0k | −$4.46 |
| NOI | $174.0k | $13.39 |
12,996 SF · lease $21.00/SF/yr · vacancy 15.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$2.49M
$2.17M – $2.90M
NOI $173,984 @ 7.0% cap · market cap 3.18%
Second Best
Healthcare Medical
$2.41M
$2.11M – $2.81M
NOI $168,428 @ 7.0% cap · market cap 3.08%
Theoretical Best
Office A
$3.53M
$3.09M – $4.12M
NOI $247,028 @ 7.0% cap · market cap 4.52%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Medical Office Space
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Similar Off Market Nearby
- Valley Animal Hospital — 902 W State Ave, Pharr, TX 78577
- Macmanus Kelly DVM — 902 W State Ave, Pharr, TX 78577
FAQs
What type of property is this?
Medical Office Space - Single-tenant medical property with long-term net lease in McAllen, TX.
Where is this medical office space located?
The property is located at 1201 E Expy 83 McAllen, TX.
What is the asking price?
The asking price for this property is $5,469,000.
What are key features of this property?
This property features: Long‑term net lease with over 10 years remaining; Corporate guarantee from Humana, Inc. (NYSE: HUM); New construction (12,996 SF) on a large 1.63‑acre parcel
