NN-Leased Medical
For Sale
Contact for pricing
1301 W U S Hwy 83, McAllen, TX 78501
Recently renovated dental practice with a long-term NN lease and limited landlord responsibilities.
Property Size7,500 SF
Price / SF$414.67
Days on Market8
Property Features for 1301 W U S Hwy 83
General Information
Standard status
Active
Size
7,500 SF
Property subtype
Retail
Occupancy
100%
Lease Type
NN+
Investment Type
Net Lease
Net Operating Income
$217,500
Site & Location
Anchor Co-Tenants
Home Depot, Ashley Furniture
Highway Access
Yes
Building Details
Year Built
2000
Year Renovated
2024
Tenancy
Single
Listing Agency:
Summit Real Estate
Listed By:
Jackson Brewer · License #TX 772853
Source:
Crexi
Added: Jul 28
Changed: Aug 3
Last Checked: Aug 3 at 7:40AM
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 Summit Real Estate
Investment Insights
Based on property information with market context.
This 7,500-square-foot medical office property was built in 2000 and is occupied by Elstar Dental. The tenant completed a full renovation in 2024 while consolidating two existing locations into the McAllen practice. The property is subject to a long-term NN lease with more than 6 years remaining and limited landlord obligations restricted to roof and structure. A corporate guaranty is provided by New Benevis Smiles, LLC, backed by New Mountain Capital.
The property fronts US Highway 83 at 1301 W U S Hwy 83 in McAllen, Texas, with exposure to more than 22,000 vehicles per day. It is an outparcel to Home Depot and Ashley Furniture and sits across from Pharr Town Center, a 460,000-square-foot shopping center featuring Academy, TJ Maxx, Ross, Five Below, Main Event, World Market, and other national retailers. The surrounding 5-mile trade area includes more than 238,000 residents with average household incomes exceeding $77,000.
The property fronts US Highway 83 at 1301 W U S Hwy 83 in McAllen, Texas, with exposure to more than 22,000 vehicles per day. It is an outparcel to Home Depot and Ashley Furniture and sits across from Pharr Town Center, a 460,000-square-foot shopping center featuring Academy, TJ Maxx, Ross, Five Below, Main Event, World Market, and other national retailers. The surrounding 5-mile trade area includes more than 238,000 residents with average household incomes exceeding $77,000.
Key Highlights
- 7,500‑square‑foot medical office property built in 2000
- 2024 renovation completed by Elstar Dental
- NN lease with more than 6 years remaining
Financial Insights For 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 | $162.0k | $21.60 |
| − Vacancy | −$9.1k | −$1.21 |
| EGI | $152.9k | $20.39 |
| − OpEx | −$45.9k | −$6.12 |
| NOI | $107.0k | $14.27 |
7,500 SF · lease $21.60/SF/yr · vacancy 5.60% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.53M
$1.34M – $1.78M
NOI $107,050 @ 7.0% cap · market cap 3.44%
Second Best
Office B
$1.43M
$1.26M – $1.67M
NOI $100,406 @ 7.0% cap · market cap 3.23%
Theoretical Best
Office A
$2.04M
$1.78M – $2.38M
NOI $142,560 @ 7.0% cap · market cap 4.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
900
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 78501, TX
60,817
Population
24,807
Households
2.5
Avg Household Size
37
Median Age
27%
College-Educated
77%
High-School Grad
15.5 sq mi
ZIP Area
3,924
Density / Sq Mi
$49,451
Median Household Income
$29,092
Median Earnings
$943
Median Rent
$149,000
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Recently renovated dental practice with a long-term NN lease and limited landlord responsibilities.
Where is this medical office space located?
The property is located at 1301 W U S Hwy 83 McAllen, TX.
What is the asking price?
The asking price for this property is $3,110,000.
What are key features of this property?
This property features: 7,500‑square‑foot medical office property built in 2000; 2024 renovation completed by Elstar Dental; NN lease with more than 6 years remaining
