Corner Office Conversion
2929 N Ware Road McAllen McAllen, TX 78501
2929 N Ware Road McAllen, McAllen, TX, 78501
$1,100,000
For Sale
$1,100,000
Versatile 3,060 sq ft corner property on a high-traffic corridor, currently configured as a residence with office conversion potential.
Property Size3,060 SF
Price / SF$359.48
Days on Market25
Property Features for 2929 N Ware Road McAllen
General Information
- Standard status
- Active
- Size
- 3,060 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1985
Listing Agency
Keller Williams Realty RGV
Listed by
Jaime Lee Gonzalez
Source
Primeluxuryrealestate
Added: Jun 23 Checked: Jul 16 at 10:01 am
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 Keller Williams Realty RGV
Investment Insights
Based on property information with market context.
This 3,060 sq ft property is located on a North McAllen corner at the intersection of Daffodil St. and Ware Rd. The building is currently used as a residence, and the existing layout supports a straightforward conversion for a small business or professional office use.
Positioned along a high-traffic corridor, the location provides convenient access and strong day-to-day visibility for customer-facing or client-based operations. With corner frontage at Ware Rd. and Daffodil St., the site offers straightforward street presence for prospective tenants or owner-users.
For an owner-user, the building’s size and current interior configuration can support a range of small business and office concepts where a dedicated property is preferable. For investors, the property’s residential-to-office adaptability may appeal to buyers looking to re-purpose an existing structure in a well-traveled commercial area. Conversion planning will be important given the property’s current residential use, but the corner location and accessibility align well with light commercial office and professional service needs.
Positioned along a high-traffic corridor, the location provides convenient access and strong day-to-day visibility for customer-facing or client-based operations. With corner frontage at Ware Rd. and Daffodil St., the site offers straightforward street presence for prospective tenants or owner-users.
For an owner-user, the building’s size and current interior configuration can support a range of small business and office concepts where a dedicated property is preferable. For investors, the property’s residential-to-office adaptability may appeal to buyers looking to re-purpose an existing structure in a well-traveled commercial area. Conversion planning will be important given the property’s current residential use, but the corner location and accessibility align well with light commercial office and professional service needs.
Key Highlights
- 3,060 sq ft corner property built in 1985 at Daffodil St. and Ware Rd.
- Currently configured as a residence with potential for conversion to a small business or professional office.
- Located on a high‑traffic corridor with accessibility suited for owner‑users or investors.
Local Financial Insights For Office B
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 | $64.3k | $21.00 |
| − Vacancy | −$9.6k | −$3.15 |
| EGI | $54.6k | $17.85 |
| − OpEx | −$13.7k | −$4.46 |
| NOI | $41.0k | $13.39 |
3,060 SF · lease $21.00/SF/yr · vacancy 15.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$585.2K
$512.1K – $682.8K
NOI $40,966 @ 7.0% cap · market cap 3.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$830.9K
$727.1K – $969.4K
NOI $58,164 @ 7.0% cap · market cap 5.29%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Manuel Madrigal barber ...
Barber Shop
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FAQs
What type of property is this?
Office building - Versatile 3,060 sq ft corner property on a high-traffic corridor, currently configured as a residence with office conversion potential.
Where is this office building located?
The property is located at 2929 N Ware Road McAllen McAllen, TX.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 3,060 sq ft corner property built in 1985 at Daffodil St. and Ware Rd.; Currently configured as a residence with potential for conversion to a small business or professional office.; Located on a high‑traffic corridor with accessibility suited for owner‑users or investors.
