Retail Space with
New
For Sale
$599,000
809 N Ware Road, McAllen, TX 78501
Operating laundry equipment is paired with four on-site rental offices, one of which is leased.
Property Size2,790 SF
Price / SF$214.70
Days on Market3
Property Features for 809 N Ware Road
General Information
Standard status
Active
Size
2,790 SF
Total Parking Spaces
18
Property subtype
Commercial
Zoning
CO
Financials
Asking Price
$695,000
Cap Rate
7.2%
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$7,339
Amenities
Storage
Building Details
Building Size
2,790 SF
Year Built
1998
Stories
1
Listing Agency:
Cobos Real Estate Services LLC
Listed By:
Alejandra E. Cobos · License #582452
(956) 802-1982
Source:
Gdvrealty
Added: Oct 22
Changed: Oct 23
Last Checked: Oct 23 at 5:25PM
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 Cobos Real Estate Services LLC
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Investment Insights
Based on property information with market context.
This 2,790-square-foot retail property in McAllen combines an operating laundromat with four rental offices. Laundry equipment includes 24 commercial washers, 28 dryers, coin changers, and vending machines; most of the machines are under warranty. One office is leased, while the other three are vacant. The building dates to 1998 and is zoned CO.
The property is near Ware Road and Pecan, with approximately 16 parking spaces. The listing also presents the option to acquire the laundry business separately and lease the space.
The property is near Ware Road and Pecan, with approximately 16 parking spaces. The listing also presents the option to acquire the laundry business separately and lease the space.
Key Highlights
- Operating laundromat with 24 commercial washers and 28 dryers
- Four on‑site rental offices; one leased and three vacant
- 7.2% cap rate
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,822
Cap Rate
6.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$796,440
$796.4K
Cap Rate 7%
$568,886
$568.9K
Cap Rate 9%
$442,467
$442.5K
Market Conditions
NOI Build-Up for 2,790 SF
Gross rent
$60.3K $21.60/SF
− Vacancy
−$3.4K −$1.21/SF
EGI
$56.9K $20.39/SF
− OpEx
−$17.1K −$6.12/SF
NOI
$39.8K $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%
$796,440
Cap Rate 7%
$568,886
Cap Rate 9%
$442,467
Alternative Uses
Best Use
Retail
$568.9K
$497.8K – $663.7K
NOI $39,822 @ 7.0% cap · market cap 6.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$757.6K
$662.9K – $883.9K
NOI $53,032 @ 7.0% cap · market cap 8.85%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
493
Businesses Nearby
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Retail space - Operating laundry equipment is paired with four on-site rental offices, one of which is leased.
Where is this retail space located?
The property is located at 809 N Ware Road McAllen, TX.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Operating laundromat with 24 commercial washers and 28 dryers; Four on‑site rental offices; one leased and three vacant; 7.2% cap rate
