Office Building with Individual
407 W Nolana Avenue McAllen, TX 78504
For Sale
$510,000
12 individual office spaces with a ceramic-tile common area and Wi-Fi provided for tenants.
Property Size2,100 SF
Price / SF$242.86
Days on Market139
Property Features for 407 W Nolana Avenue
General Information
- Standard status
- Active
- Size
- 2,100 SF
- Property subtype
- General Commercial
Building Details
- Year Built
- 1979
Listing Agency:
(956) 270-2432
Listed By:
Vela Commercial Real Estate
(956) 270-2432
Source:
Xome
Added: Mar 6
Changed: Jul 22
Last Checked: Jul 23 at 3:34AM
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
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 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 | $44.1k | $21.00 |
| − Vacancy | −$6.6k | −$3.15 |
| EGI | $37.5k | $17.85 |
| − OpEx | −$9.4k | −$4.46 |
| NOI | $28.1k | $13.39 |
2,100 SF · lease $21.00/SF/yr · vacancy 15.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$401.6K
$351.4K – $468.6K
NOI $28,114 @ 7.0% cap · market cap 5.51%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$570.2K
$499.0K – $665.3K
NOI $39,917 @ 7.0% cap · market cap 7.83%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Kevin's Travel Agency ...
Travel Agency
Fortune Data Technology
Business Management Consultant
CITY EXPRESS INSURANCE ...
Insurance Agency
CHESSANI REMODELING SERVICES
Hardware & Home Improvement
E&K income tax ...
Law Firm
FAQs
What type of property is this?
Office units - 12 individual office spaces with a ceramic-tile common area and Wi-Fi provided for tenants.
Where is this office units located?
The property is located at 407 W Nolana Avenue McAllen, TX.
What is the asking price?
The asking price for this property is $510,000.
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
