Office Building with Individual
For Sale
$480,000
407 W Nolana Ave, McAllen, TX 78504
12 individual office spaces with a ceramic-tile common area and Wi-Fi provided for tenants.
Property Size2,100 SF
Price / SF$228.57
Days on Market183
Property Features for 407 W Nolana Ave
General Information
Standard status
Active
Size
2,100 SF
Additional Details
Cap Rate
8.5%
Office Units
12
Amenities
Wi-Fi
Building Details
Year Built
1979
Listing Agency:
Vela Commercial Real Estate
Listed By:
Rogelio Vela
(956) 270-2432
Source:
Aregtx
Added: Apr 24
Changed: Oct 17
Last Checked: Oct 7 at 5:28PM
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 Vela Commercial Real Estate
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Investment Insights
Based on property information with market context.
This office property is configured as 12 individual offices, supported by a common area featuring ceramic tile flooring. Wi-Fi is provided for tenants.
The asset is located at 407 W Nolana Avenue in McAllen, TX 78504. Public remarks indicate strong occupancy, including a history of high occupancy and a waiting list of tenants.
From an investment perspective, the offering is described as selling at an 8.5% CAP rate with a reported IRR of 20%.
The asset is located at 407 W Nolana Avenue in McAllen, TX 78504. Public remarks indicate strong occupancy, including a history of high occupancy and a waiting list of tenants.
From an investment perspective, the offering is described as selling at an 8.5% CAP rate with a reported IRR of 20%.
Key Highlights
- 12 individual office spaces with a ceramic‑tile common area
- Wi‑Fi provided for tenants
- Currently selling at an 8.5% CAP Rate
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,114
Cap Rate
5.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$562,280
$562.3K
Cap Rate 7%
$401,629
$401.6K
Cap Rate 9%
$312,378
$312.4K
Market Conditions
NOI Build-Up for 2,100 SF
Gross rent
$44.1K $21.00/SF
− Vacancy
−$6.6K −$3.15/SF
EGI
$37.5K $17.85/SF
− OpEx
−$9.4K −$4.46/SF
NOI
$28.1K $13.39/SF
Area
McAllen, TX
Vacancy
15.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$562,280
Cap Rate 7%
$401,629
Cap Rate 9%
$312,378
Alternative Uses
Best Use
Office B
$401.6K
$351.4K – $468.6K
NOI $28,114 @ 7.0% cap · market cap 5.86%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$570.2K
$499.0K – $665.3K
NOI $39,917 @ 7.0% cap · market cap 8.32%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
12
Office units
Location Intelligence
Trade Area within ½ mile
1,522
Businesses Nearby
Explore this area
Business Placement
Demographics for 78504, TX
56,830
Population
21,417
Households
2.7
Avg Household Size
35
Median Age
40%
College-Educated
86%
High-School Grad
19.6 sq mi
ZIP Area
2,899
Density / Sq Mi
$77,627
Median Household Income
$41,632
Median Earnings
$1,178
Median Rent
$203,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - 12 individual office spaces with a ceramic-tile common area and Wi-Fi provided for tenants.
Where is this office unit located?
The property is located at 407 W Nolana Ave McAllen, TX.
What is the asking price?
The asking price for this property is $480,000.
What are key features of this property?
This property features: 12 individual office spaces with a ceramic‑tile common area; Wi‑Fi provided for tenants; Currently selling at an 8.5% CAP Rate
