Two-Unit Mixed-Use
700 S Main St, McAllen, TX 78501
For Sale
$350,000
Fully occupied property combines a restaurant space with a rear office unit.
Property Size2,400 SF
Price / SF$145.83
Days on Market51
Property Features for 700 S Main St
General Information
Standard status
Size
Occupancy
Building Details
Year Built
Buildings
Tenancy
Listing Agency:
Dolce Vita Realty
Listed By:
Olga L Arriaga · License #801067410
(956) 827-5025
Source:
Aregtx
Added: Sep 18
Changed: Oct 25
Last Checked: Oct 7 at 4:30PM
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 Dolce Vita Realty
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Investment Insights
Based on property information with market context.
Built in 1982, this 2,400-square-foot mixed-use building contains two separate units. The Main Street-facing space is configured for restaurant use with a dining area and kitchen, while the rear unit is occupied by an office tenant. The property is currently 100% occupied.
The building is positioned across from McAllen City Hall in downtown McAllen, with South 10th Street nearby and the Expressway accessible by a short drive. The site is also near an upcoming retail and community center.
The building is positioned across from McAllen City Hall in downtown McAllen, with South 10th Street nearby and the Expressway accessible by a short drive. The site is also near an upcoming retail and community center.
Key Highlights
- 2,400‑square‑foot mixed‑use building constructed in 1982
- Two‑unit layout with restaurant and office spaces
- Restaurant unit includes dining area and kitchen
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,160
Cap Rate
8.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$583,200
$583.2K
Cap Rate 7%
$416,571
$416.6K
Cap Rate 9%
$324,000
$324.0K
Market Conditions
NOI Build-Up for 2,400 SF
Gross rent
$51.8K $21.60/SF
− Vacancy
−$5.2K −$2.16/SF
EGI
$46.7K $19.44/SF
− OpEx
−$17.5K −$7.29/SF
NOI
$29.2K $12.15/SF
Area
McAllen, TX
Vacancy
10.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$583,200
Cap Rate 7%
$416,571
Cap Rate 9%
$324,000
Alternative Uses
Best Use
Specialty Retail
$524.3K
$458.8K – $611.7K
NOI $36,703 @ 7.0% cap · market cap 10.49%
Second Best
Mixed Use
$416.6K
$364.5K – $486.0K
NOI $29,160 @ 7.0% cap · market cap 8.33%
Theoretical Best
Office A
$651.7K
$570.2K – $760.3K
NOI $45,619 @ 7.0% cap · market cap 13.03%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,465
Businesses Nearby
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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
$149,000
Median Home Value
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Market
Average Price Trend$/SF for Mixed-use properties in McAllen, TX
Properties on Market for Mixed-use properties in McAllen
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Fully occupied property combines a restaurant space with a rear office unit.
Where is this mixed-use property located?
The property is located at 700 S Main St McAllen, TX.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 2,400‑square‑foot mixed‑use building constructed in 1982; Two‑unit layout with restaurant and office spaces; Restaurant unit includes dining area and kitchen
