Restaurant with Highway
For Sale
$5,000,000
601 W Expressway 83, McAllen, TX 78503
Restaurant property with central air, paved driveway, handicap parking, and access from a city road and US highway.
Property Size13,585 SF
Price / SF$368.05
Days on Market174
Property Features for 601 W Expressway 83
General Information
Standard status
Active
Size
13,585 SF
Building Details
Year Built
1991
Listing Agency:
Big Realty
Listed By:
Jorge L. Zambrano
(956) 465-0011
Source:
Aregtx
Added: Apr 24
Changed: Oct 11
Last Checked: Oct 7 at 1:28PM
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 Big Realty
Investment Insights
Based on property information with market context.
This conventional restaurant property was built in 1991 and includes central air with electric service. The site provides 150 parking spaces, a paved driveway, designated handicap parking, and handicapped access. Its physical configuration supports restaurant use while offering established site improvements for customers and staff.
The property is located at 601 W Expressway 83 in McAllen, Texas, with access from a city road and US highway. Hotels, Simon Mall, a hospital, and McAllen International Airport are identified as nearby points of interest.
The property is located at 601 W Expressway 83 in McAllen, Texas, with access from a city road and US highway. Hotels, Simon Mall, a hospital, and McAllen International Airport are identified as nearby points of interest.
Key Highlights
- 150 parking spaces with paved driveway and handicap parking
- Central air with electric service
- Handicapped access provided
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$207,753
Cap Rate
4.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,155,060
$4.2M
Cap Rate 7%
$2,967,900
$3.0M
Cap Rate 9%
$2,308,367
$2.3M
Market Conditions
NOI Build-Up for 13,585 SF
Gross rent
$293.4K $21.60/SF
− Vacancy
−$16.4K −$1.21/SF
EGI
$277.0K $20.39/SF
− OpEx
−$69.3K −$5.10/SF
NOI
$207.8K $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 Rate 5%
$4,155,060
Cap Rate 7%
$2,967,900
Cap Rate 9%
$2,308,367
Alternative Uses
Best Use
Specialty Retail
$2.97M
$2.60M – $3.46M
NOI $207,753 @ 7.0% cap · market cap 4.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.69M
$3.23M – $4.30M
NOI $258,224 @ 7.0% cap · market cap 5.16%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,046
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 78503, TX
23,604
Population
8,090
Households
2.9
Avg Household Size
35
Median Age
25%
College-Educated
71%
High-School Grad
19.2 sq mi
ZIP Area
1,229
Density / Sq Mi
$48,765
Median Household Income
$27,514
Median Earnings
$1,087
Median Rent
$130,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
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Similar Off Market Nearby
- House of China — 2001 S 10th St, McAllen, TX 78503
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Restaurant property with central air, paved driveway, handicap parking, and access from a city road and US highway.
Where is this conventional restaurant located?
The property is located at 601 W Expressway 83 McAllen, TX.
What is the asking price?
The asking price for this property is $5,000,000.
What are key features of this property?
This property features: 150 parking spaces with paved driveway and handicap parking; Central air with electric service; Handicapped access provided
