Downtown McAllen Entertainment District
For Sale
$659,000
312 S 17th Street, McAllen, TX 78501
Versatile property in McAllen's dynamic redevelopment corridor.
Property Size1,296 SF
Days on Market170
Property Features for 312 S 17th Street
General Information
Standard status
Active
Size
1,296 SF
Property subtype
Special Purpose
Building Details
Building Size
1,296 SF
Year Built
2018
Listing Agency:
SVN | Hanna Solutions CRE
(956) 360-5062
Listed By:
Edson Carvajal, TACS
(956) 360-5062
Source:
Svn
Added: Mar 6
Changed: Aug 19
Last Checked: Aug 22 at 5:18AM
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 SVN | Hanna Solutions CRE
Investment Insights
Based on property information with market context.
Located in the heart of the Downtown McAllen Entertainment District, the property at 312 S. 17th Street presents an opportunity to own property in a dynamic redevelopment corridor. Formerly Landmark Bar and Nomad Coffee Shop, this versatile property is suited for retail, restaurant, bar, or mixed-use redevelopment. The property is centrally located in Downtown McAllen, one block south of Business 83 (Old Highway 83) and a few blocks west of South 10th Street. Situated on the west side of 17th Street, it is directly across from Cine El Rey and near Patio on Guerra and McAllen City Hall. The property is zoned C-3 General Business, within the Entertainment and Cultural Overlay (ECOD). It is surrounded by major downtown anchors including Cine El Rey, Patio on Guerra, and McAllen City Hall. The property features an outdoor canopy and container structures, suitable for a restaurant, bar, or event concept, as well as a two-story layout with a second-floor terrace overlooking 17th Street. It offers high visibility and easy access from Business 83 and Interstate 2. The property is move-in ready with utilities, concrete flooring, and ample open space, presenting an opportunity to join the downtown redevelopment movement.
Key Highlights
- Prime location in McAllen's Downtown Entertainment and Cultural District.
- Zoned C‑3 General Business, within the Entertainment and Cultural Overlay (ECOD).
- Versatile property suited for retail, restaurant, bar, or mixed‑use redevelopment.
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
$19,819
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
3.01%
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%
$396,380
$396.4K
Cap Rate 7%
$283,129
$283.1K
Cap Rate 9%
$220,211
$220.2K
Market Conditions
NOI Build-Up for 1,296 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
$28.0K $21.60/SF
− Vacancy
−$1.6K −$1.21/SF
EGI
$26.4K $20.39/SF
− OpEx
−$6.6K −$5.10/SF
NOI
$19.8K $15.29/SF
Area
McAllen, TX
Vacancy
5.60%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
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%
$396,380
Cap Rate 7%
$283,129
Cap Rate 9%
$220,211
Alternative Uses
Best Use
Specialty Retail
$283.1K
$247.7K – $330.3K
NOI $19,819 @ 7.0% cap · market cap 3.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$351.9K
$307.9K – $410.6K
NOI $24,634 @ 7.0% cap · market cap 3.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,575
Businesses Nearby
Well-served
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 Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Bar & Pub - Versatile property in McAllen's dynamic redevelopment corridor.
Where is this bar & pub located?
The property is located at 312 S 17th Street McAllen, TX.
What is the asking price?
The asking price for this property is $659,000.
What are key features of this property?
This property features: Prime location in McAllen's Downtown Entertainment and Cultural District.; Zoned C‑3 General Business, within the Entertainment and Cultural Overlay (ECOD).; Versatile property suited for retail, restaurant, bar, or mixed‑use redevelopment.
