8-Unit Mixed-Use
220 N 29th St, McAllen, TX 78501
For Sale
$1,400,000
The commercial space includes warehouse, office, retail, and restaurant components.
Property Size7,740 SF
Days on Market47
Property Features for 220 N 29th St
General Information
Standard status
Size
Property subtype
Site & Location
Highway Access
Road Access
Building Details
Building Size
Year Built
Tenancy
Listing Agency:
NAI STX McAllen
Listed By:
Laura Liza Paz, SIOR · License TX #437175
(956) 227-8000
Source:
Naiglobal
Added: Sep 28
Last Checked: Nov 12 at 6:26AM
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 NAI STX McAllen
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Investment Insights
Based on property information with market context.
This eight-unit commercial property brings together warehouse, office, retail, and restaurant space. The building dates to 1983 and is described as income-producing.
The property fronts N. 29th Street in McAllen, north of Business Highway 83. Its combination of commercial space types is distributed across eight units.
The property fronts N. 29th Street in McAllen, north of Business Highway 83. Its combination of commercial space types is distributed across eight units.
Key Highlights
- Eight commercial units
- Warehouse, office, retail, and restaurant space
- Located on N. 29th Street, north of Business Highway 83 in McAllen
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$110,475
Cap Rate
7.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,209,500
$2.2M
Cap Rate 7%
$1,578,214
$1.6M
Cap Rate 9%
$1,227,500
$1.2M
Market Conditions
NOI Build-Up for 7,740 SF
Gross rent
$167.2K $21.60/SF
− Vacancy
−$9.4K −$1.21/SF
EGI
$157.8K $20.39/SF
− OpEx
−$47.3K −$6.12/SF
NOI
$110.5K $14.27/SF
Area
McAllen, TX
Vacancy
5.60%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,209,500
Cap Rate 7%
$1,578,214
Cap Rate 9%
$1,227,500
Alternative Uses
Best Use
Retail
$1.58M
$1.38M – $1.84M
NOI $110,475 @ 7.0% cap · market cap 7.89%
Second Best
Mixed Use
$1.34M
$1.18M – $1.57M
NOI $94,041 @ 7.0% cap · market cap 6.72%
Theoretical Best
Office A
$2.10M
$1.84M – $2.45M
NOI $147,122 @ 7.0% cap · market cap 10.51%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
712
Businesses Nearby
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
$149,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Mixed-use properties in McAllen, TX
Properties on Market for Mixed-use properties in McAllen
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - The commercial space includes warehouse, office, retail, and restaurant components.
Where is this mixed-use property located?
The property is located at 220 N 29th St McAllen, TX.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Eight commercial units; Warehouse, office, retail, and restaurant space; Located on N. 29th Street, north of Business Highway 83 in McAllen
