Turnkey Fully Leased
For Sale
$244,000
3618 Gloria Ave, McAllen, TX 78503
Fully leased multifamily property with multiple income-generating units and 100% occupancy.
Property Size2,414 SF
Price / SF$101.08
Days on Market50
Property Features for 3618 Gloria Ave
General Information
Standard status
Active
Size
2,414 SF
Property subtype
Multi-Family
Occupancy
100%
Building Details
Year Built
1980
Listing Agency:
SANETI Realty Group
Listed By:
Alberto Sanchez Vega
(956) 520-2333
Source:
Aregtx
Added: Jul 20
Changed: Aug 16
Last Checked: Sep 6 at 11:33AM
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 SANETI Realty Group
Investment Insights
Based on property information with market context.
This turnkey multifamily property is offered for sale with multiple income-generating units and 100% occupancy. The asset is fully leased, providing immediate rental income from day one and a consistent base of stabilized tenant occupancy.
The property is located at 3618 Gloria Ave in McAllen, Texas. With its current fully leased status, it presents a straightforward option for buyers looking to add an income-producing multifamily asset to their portfolio.
Based on the provided information, the property is sized at 2,414 (property size) and is presented as a fully leased, income-generating investment with multiple units.
The property is located at 3618 Gloria Ave in McAllen, Texas. With its current fully leased status, it presents a straightforward option for buyers looking to add an income-producing multifamily asset to their portfolio.
Based on the provided information, the property is sized at 2,414 (property size) and is presented as a fully leased, income-generating investment with multiple units.
Key Highlights
- Year built: 1980
- Fully leased multifamily property with multiple income‑generating units
- 100% occupancy (fully occupied)
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
$20,046
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
8.22%
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%
$400,920
$400.9K
Cap Rate 7%
$286,371
$286.4K
Cap Rate 9%
$222,733
$222.7K
Market Conditions
NOI Build-Up for 2,414 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
$39.1K $16.20/SF
− Vacancy
−$2.7K −$1.10/SF
EGI
$36.4K $15.10/SF
− OpEx
−$16.4K −$6.79/SF
NOI
$20.0K $8.30/SF
Area
McAllen, TX
Vacancy
6.80%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
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%
$400,920
Cap Rate 7%
$286,371
Cap Rate 9%
$222,733
Alternative Uses
Best Use
Apartment 5plus
$286.4K
$250.6K – $334.1K
NOI $20,046 @ 7.0% cap · market cap 8.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$655.5K
$573.6K – $764.8K
NOI $45,885 @ 7.0% cap · market cap 18.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
61
Businesses Nearby
Explore this area
Business Placement
Demographics for 78503, TX
23,604
Population
8,090
Households
2.9
Avg Household Size
35
Median Age
25%
College-Educated
71%
High-School Grad
19.2 sq mi
ZIP Area
1,229
Density / Sq Mi
$48,765
Median Household Income
$27,514
Median Earnings
$1,087
Median Rent
$130,100
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?
Multifamily property - Fully leased multifamily property with multiple income-generating units and 100% occupancy.
Where is this multifamily property located?
The property is located at 3618 Gloria Ave McAllen, TX.
What is the asking price?
The asking price for this property is $244,000.
What are key features of this property?
This property features: Year built: 1980; Fully leased multifamily property with multiple income‑generating units; 100% occupancy (fully occupied)
