Retail Plaza with Multi-Tenant
6324 S 23rd Street McAllen, TX 78503
6324 S 23rd Street, McAllen, TX, 78503
$2,800,000
For Sale
$2,800,000
Multi-tenant retail plaza anchored by a convenience store and restaurant, supported by natural gas and a shared grease trap.
Property Size12,000 SF
Lot Size2.40 Acres
Price / SF$233.33
Days on Market462
Property Features for 6324 S 23rd Street
General Information
- Standard status
- Active
- Size
- 12,000 SF
- Lot size
- 2.40 Acres
- Property subtype
- General Commercial
Building Details
- Year Built
- 1983
Listing agency
Zapphire Real Estate Group
(956) 844-3870
Listed by
Ramon Pecina · License #0544897
(956) 844-3870
Source
Xome
Added: Apr 17, 2025 Updated: Jul 21 at 8:50PM Checked: Jul 21 at 8:50PM
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 Zapphire Real Estate Group
Investment Insights
Based on property information with market context.
This shopping plaza includes a roughly 12,000+/- square foot building with additional storage space used by tenants. The tenant mix noted in the materials includes a convenience store, restaurant, check cashing office, and bar. The property also includes a 2,000-gallon grease trap that serves three suites, along with natural gas. Bathroom areas are described as common areas for the convenience store and the check cash company.
The site is positioned on a highly visible hard corner in South McAllen, and it is listed as just minutes from the McAllen/Reynosa Bridge.
The owner states the property has a strong history of consistent rent rolls, and rent rolls are available to be delivered upon offer or LOI.
The site is positioned on a highly visible hard corner in South McAllen, and it is listed as just minutes from the McAllen/Reynosa Bridge.
The owner states the property has a strong history of consistent rent rolls, and rent rolls are available to be delivered upon offer or LOI.
Key Highlights
- Multi‑tenant retail plaza on a hard‑corner location in South McAllen
- 12,000+/- SF building on approximately 2.4+/- acres, built in 1983
- 35 paved parking spaces plus loading dock and extra storage
Local Financial Insights For Specialty Retail
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 | $259.2k | $21.60 |
| − Vacancy | −$14.5k | −$1.21 |
| EGI | $244.7k | $20.39 |
| − OpEx | −$61.2k | −$5.10 |
| NOI | $183.5k | $15.29 |
12,000 SF · lease $21.60/SF/yr · vacancy 5.60% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$2.62M
$2.29M – $3.06M
NOI $183,514 @ 7.0% cap · market cap 6.55%
Second Best
Retail
$2.45M
$2.14M – $2.85M
NOI $171,279 @ 7.0% cap · market cap 6.12%
Theoretical Best
Office A
$3.26M
$2.85M – $3.80M
NOI $228,096 @ 7.0% cap · market cap 8.15%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Medical Export Services ...
Corporate Office
Ice Dragon Express
Auto Repair Shop
Similar For Sale Nearby
Similar Off Market Nearby
- Brothers Rental Tools — 5701 s 23rd st ste b, mcallen, tx 78503
FAQs
What type of property is this?
Shopping center - Multi-tenant retail plaza anchored by a convenience store and restaurant, supported by natural gas and a shared grease trap.
Where is this shopping center located?
The property is located at 6324 S 23rd Street McAllen, TX.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: Multi‑tenant retail plaza on a hard‑corner location in South McAllen; 12,000+/- SF building on approximately 2.4+/- acres, built in 1983; 35 paved parking spaces plus loading dock and extra storage
