Retail
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For Sale
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6101 N 23rd Street Unit 3, McAllen, TX 78504
The unit is positioned for retail or food-service concepts within a plaza surrounded by housing and nearby retail.
Property Size1,200 SF
Price / SF$4.50
Days on Market2
Property Features for 6101 N 23rd Street Unit 3
General Information
Standard status
Active
Size
1,200 SF
Property subtype
Commercial
Additional Details
Traffic Count
30,000 vehicles/day
Building Details
Year Built
2003
Listing Agency:
SANETI REALTY GROUP
Listed By:
Alberto Sanchez
(956) 215-1125
Source:
Sanetirealty
Added: Nov 1
Last Checked: Nov 1 at 3:48PM
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 SANETI REALTY GROUP
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Unit 3 offers 1,200 square feet of retail space in a plaza. The building dates to 2003. Suggested concepts include a bakery, coffee shop, flower shop, dry cleaner, meat market, tortilleria, or restaurant; these are possibilities rather than stated permitted uses.
The property is surrounded by housing and churches, with Walmart and other retail stores nearby. The reported traffic count is 30,000 cars per day. A pizza business is located next door.
The property is surrounded by housing and churches, with Walmart and other retail stores nearby. The reported traffic count is 30,000 cars per day. A pizza business is located next door.
Key Highlights
- 1,200‑square‑foot retail unit
- Built in 2003
- Reported traffic count of 30,000 cars per day
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,128
Suggested Prices Based on Cap Rates
Cap Rate 5%
$342,560
$342.6K
Cap Rate 7%
$244,686
$244.7K
Cap Rate 9%
$190,311
$190.3K
Market Conditions
NOI Build-Up for 1,200 SF
Gross rent
$25.9K $21.60/SF
− Vacancy
−$1.5K −$1.21/SF
EGI
$24.5K $20.39/SF
− OpEx
−$7.3K −$6.12/SF
NOI
$17.1K $14.27/SF
Area
McAllen, TX
Vacancy
5.60%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$342,560
Cap Rate 7%
$244,686
Cap Rate 9%
$190,311
Alternative Uses
Best Use
Specialty Retail
$262.2K
$229.4K – $305.9K
NOI $18,351 @ 7.0% cap · market cap 339.83%
Second Best
Retail
$244.7K
$214.1K – $285.5K
NOI $17,128 @ 7.0% cap · market cap 317.19%
Theoretical Best
Office A
$325.9K
$285.1K – $380.2K
NOI $22,810 @ 7.0% cap · market cap 422.41%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
30,000 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
496
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 Retail in South region
Frequently Asked Questions
What type of property is this?
Retail space - The unit is positioned for retail or food-service concepts within a plaza surrounded by housing and nearby retail.
Where is this retail space located?
The property is located at 6101 N 23rd Street Unit 3 McAllen, TX.
What are key features of this property?
This property features: 1,200‑square‑foot retail unit; Built in 2003; Reported traffic count of 30,000 cars per day
