Office Suite with Private
For Sale
$499,995
509 W Nolana Avenue, McAllen, TX 78504
Office suite for sale with a private entrance and a flexible layout for two offices or reception plus private office.
Property Size2,250 SF
Price / SF$222.22
Days on Market133
Property Features for 509 W Nolana Avenue
General Information
Standard status
Active
Size
2,250 SF
Property subtype
General Commercial
Taxes and HOA fees
Annual Taxes
$4,872
Amenities
private entrance
Central Air
3
100 Parking Spaces. Paved Driveway, Handicap Parking.
City Road, Paved Road.
Building Details
Year Built
1979
Listing Agency:
Ursa Real Estate, LLC
(956) 252-0544
Listed By:
Ursa Real Estate · License #767977
(956) 252-0544
Source:
Xome
Added: Apr 14
Changed: Aug 23
Last Checked: Aug 24 at 3:46AM
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 Ursa Real Estate, LLC
Investment Insights
Based on property information with market context.
This office suite offers a flexible interior layout that can be configured as two offices, or as a reception area with a private office. The suite includes its own private entrance, supporting straightforward client access and day-to-day operations.
The property is located within a well-established office complex along a high-traffic business corridor near 10th Street in McAllen. The surrounding area includes restaurants, banks, and professional offices.
The space is presented for a range of professional uses, including insurance and other professional services, medical and consulting, as well as multi-tenant coworking concepts.
The property is located within a well-established office complex along a high-traffic business corridor near 10th Street in McAllen. The surrounding area includes restaurants, banks, and professional offices.
The space is presented for a range of professional uses, including insurance and other professional services, medical and consulting, as well as multi-tenant coworking concepts.
Key Highlights
- Office suite for sale in a well‑established office complex in the heart of McAllen
- Private entrance with a flexible layout that can be configured as two offices or a reception area plus a private office
- Located in a high‑traffic business corridor near 10th Street with accessibility to surrounding restaurants, banks, and professional offices
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
$30,122
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
6.02%
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%
$602,440
$602.4K
Cap Rate 7%
$430,314
$430.3K
Cap Rate 9%
$334,689
$334.7K
Market Conditions
NOI Build-Up for 2,250 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
$47.3K $21.00/SF
− Vacancy
−$7.1K −$3.15/SF
EGI
$40.2K $17.85/SF
− OpEx
−$10.0K −$4.46/SF
NOI
$30.1K $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 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%
$602,440
Cap Rate 7%
$430,314
Cap Rate 9%
$334,689
Alternative Uses
Best Use
Office B
$430.3K
$376.5K – $502.0K
NOI $30,122 @ 7.0% cap · market cap 6.02%
Second Best
Healthcare Medical
$416.6K
$364.5K – $486.0K
NOI $29,160 @ 7.0% cap · market cap 5.83%
Theoretical Best
Office A
$611.0K
$534.6K – $712.8K
NOI $42,768 @ 7.0% cap · market cap 8.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Office suite for sale with a private entrance and a flexible layout for two offices or reception plus private office.
Where is this office units located?
The property is located at 509 W Nolana Avenue McAllen, TX.
What is the asking price?
The asking price for this property is $499,995.
What are key features of this property?
This property features: Office suite for sale in a well‑established office complex in the heart of McAllen; Private entrance with a flexible layout that can be configured as two offices or a reception area plus a private office; Located in a high‑traffic business corridor near 10th Street with accessibility to surrounding restaurants, banks, and professional offices
