Flex Space Redevelopment
1217 E Chicago Avenue McAllen, TX 78501
For Sale
$554,000
Redevelopment-focused flex/warehouse site with a 3,067 SF workshop and additional storage plus two residential structures.
Property Size3,067 SF
Lot Size0.89 Acres
Price / SF$180.63
Days on Market238
Property Features for 1217 E Chicago Avenue
General Information
- Standard status
- Active
- Size
- 3,067 SF
- Lot size
- 0.89 Acres
- Property subtype
- General Commercial
Building Details
- Year Built
- 1949
Listing Agency:
(956) 888-6731
Listed By:
Svn
(956) 888-6731
Source:
Xome
Added: Nov 28, 2025
Changed: Jul 21
Last Checked: Jul 23 at 3:55AM
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 Svn
Investment Insights
Based on property information with market context.
A 0.89± acre commercial redevelopment site offering flex-space or small-bay warehouse potential. Existing improvements include a 3,067± SF workshop, a 493± SF storage shed, and two residential structures totaling approximately 900± SF and 2,598± SF. The property is zoned C-3, with surrounding C-4 zoning, and may present an opportunity to pursue rezoning for higher-intensity commercial uses, subject to City approval.
The site is located in a strong McAllen infill corridor and is shadow-anchored by Burns Motors and Caliber Collision. Access is described as excellent to Old Business Highway 83 and Interstate 2.
For sale as a redevelopment option, the property may suit investors, developers, or owner-users looking to repurpose the existing improvements or reimagine the site for future development.
The site is located in a strong McAllen infill corridor and is shadow-anchored by Burns Motors and Caliber Collision. Access is described as excellent to Old Business Highway 83 and Interstate 2.
For sale as a redevelopment option, the property may suit investors, developers, or owner-users looking to repurpose the existing improvements or reimagine the site for future development.
Key Highlights
- 0.89± acre commercial redevelopment site in a McAllen infill corridor with access to Old Business Highway 83 and Interstate 2
- Zoned C‑3 with surrounding C‑4 zoning
- Existing 3,067± SF workshop plus 493± SF storage shed and a wooded lot
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 | $27.6k | $9.00 |
| − Vacancy | −$994 | −$0.32 |
| EGI | $26.6k | $8.68 |
| − OpEx | −$4.0k | −$1.30 |
| NOI | $22.6k | $7.37 |
3,067 SF · lease $9.00/SF/yr · vacancy 3.60% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$323.1K
$282.7K – $377.0K
NOI $22,618 @ 7.0% cap · market cap 4.08%
Second Best
Flex RnD
$271.5K
$237.5K – $316.7K
NOI $19,002 @ 7.0% cap · market cap 3.43%
Theoretical Best
Office A
$832.8K
$728.7K – $971.6K
NOI $58,298 @ 7.0% cap · market cap 10.52%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Finess Hair studio ...
Hair Salon
YS Cosmetology Academy
High School
Similar Off Market Nearby
- Rámon GarcÃa Catering Maria Bonita — 510 S 17th St, McAllen, TX 78501
- Classico Mc Allen — 117 S 17th St, McAllen, TX 78501
- Black Diamond BBQ - McAllen — 104 N Bicentennial Blvd, McAllen, TX 78501
FAQs
What type of property is this?
Flex space - Redevelopment-focused flex/warehouse site with a 3,067 SF workshop and additional storage plus two residential structures.
Where is this flex space located?
The property is located at 1217 E Chicago Avenue McAllen, TX.
What is the asking price?
The asking price for this property is $554,000.
What are key features of this property?
This property features: 0.89± acre commercial redevelopment site in a McAllen infill corridor with access to Old Business Highway 83 and Interstate 2; Zoned C‑3 with surrounding C‑4 zoning; Existing 3,067± SF workshop plus 493± SF storage shed and a wooded lot
