Medical Office Suite with Exam
For Sale
$480,000
6-3001 N 23rd St, McAllen, TX 78501
Professional suite offering reception, multiple private rooms, ADA-compliant restrooms, and storage for an organized clinical layout.
Property Size2,967 SF
Price / SF$161.78
Days on Market75
Property Features for 6-3001 N 23rd St
General Information
Standard status
Active
Size
2,967 SF
Taxes and HOA fees
Annual Taxes
$9,616
Listing Agency:
Pinnacle Realty Advisors
(956) 330-9012
Listed By:
Juan Iparrea · License #624291
(956) 330-9012
Source:
Exprealty
Added: Jun 11
Changed: Aug 21
Last Checked: Aug 23 at 5:25AM
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 Pinnacle Realty Advisors
Investment Insights
Based on property information with market context.
This 2,967-square-foot medical office suite is arranged for professional practice use, with a reception area, multiple subdivided offices or exam rooms, ADA-compliant restrooms, and dedicated storage. The configuration provides separate work areas within a functional office setting while accommodating patient-facing and administrative functions.
The property is located at 6-3001 N 23rd St in McAllen, Texas. Its position on N 23rd St places the suite within a busy commercial corridor described as having high traffic, with visibility and accessibility identified as property features. The space is suited to medical, dental, or other professional office use.
The property is located at 6-3001 N 23rd St in McAllen, Texas. Its position on N 23rd St places the suite within a busy commercial corridor described as having high traffic, with visibility and accessibility identified as property features. The space is suited to medical, dental, or other professional office use.
Key Highlights
- 2,967‑square‑foot medical office suite
- Reception area with multiple subdivided offices or exam rooms
- ADA‑compliant restrooms
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
$39,721
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
8.28%
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%
$794,420
$794.4K
Cap Rate 7%
$567,443
$567.4K
Cap Rate 9%
$441,344
$441.3K
Market Conditions
NOI Build-Up for 2,967 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
$62.3K $21.00/SF
− Vacancy
−$9.3K −$3.15/SF
EGI
$53.0K $17.85/SF
− OpEx
−$13.2K −$4.46/SF
NOI
$39.7K $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%
$794,420
Cap Rate 7%
$567,443
Cap Rate 9%
$441,344
Alternative Uses
Best Use
Office B
$567.4K
$496.5K – $662.0K
NOI $39,721 @ 7.0% cap · market cap 8.28%
Second Best
Healthcare Medical
$549.3K
$480.7K – $640.9K
NOI $38,452 @ 7.0% cap · market cap 8.01%
Theoretical Best
Office A
$805.7K
$705.0K – $940.0K
NOI $56,397 @ 7.0% cap · market cap 11.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,881
Businesses Nearby
Under-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 Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Professional suite offering reception, multiple private rooms, ADA-compliant restrooms, and storage for an organized clinical layout.
Where is this medical office space located?
The property is located at 6-3001 N 23rd St 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: 2,967‑square‑foot medical office suite; Reception area with multiple subdivided offices or exam rooms; ADA‑compliant restrooms
