Remodeled Laundromat on Busy
For Sale
Contact for pricing
809 N Ware Road, McAllen, TX 78501
Recently remodeled laundromat with new equipment and income-generating potential.
Property Size2,790 SF
Price / SF$249.10
Days on Market750
Property Features for 809 N Ware Road
General Information
Standard status
Active
Size
2,790 SF
Property subtype
Land
Building Details
Year Built
1998
Listing Agency:
BERKSHIRE HATHAWAY HOMESERVICES RGV REALTY
Listed By:
Martin Manzo · License #TREC # 0579568
Source:
Crexi
Added: Jul 16, 2024
Changed: Jul 6
Last Checked: Aug 3 at 12:15PM
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 BERKSHIRE HATHAWAY HOMESERVICES RGV REALTY
Investment Insights
Based on property information with market context.
This recently remodeled laundromat is located on a busy road in McAllen. The facility includes 18 new washers and 18 new dryers, along with several commercial-grade machines. The property features ample folding tables, laundry carts, two coin machines, and two vending machines. For customer convenience, there are also TVs and internet access. The setup includes an office and storage space. Additionally, the property offers three offices available for lease, providing an opportunity to generate extra income. There are several assigned parking spaces and an area designated for a food truck. The laundromat operates 24 hours a day and is reportedly generating increasing income monthly. The property size is 2790 square feet.
Key Highlights
- Recently remodeled with all new washers and dryers (18 of each).
- Located on a busy road in McAllen.
- Includes three offices available for lease, generating extra income.
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $60.3k | $21.60 |
| − Vacancy | −$3.4k | −$1.21 |
| EGI | $56.9k | $20.39 |
| − OpEx | −$17.1k | −$6.12 |
| NOI | $39.8k | $14.27 |
2,790 SF · lease $21.60/SF/yr · vacancy 5.60% · expense 30.00%
Alternative Uses
Best Use
Retail
$568.9K
$497.8K – $663.7K
NOI $39,822 @ 7.0% cap · market cap 5.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$757.6K
$662.9K – $883.9K
NOI $53,032 @ 7.0% cap · market cap 7.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
419
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
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Recently remodeled laundromat with new equipment and income-generating potential.
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 $695,000.
What are key features of this property?
This property features: Recently remodeled with all new washers and dryers (18 of each).; Located on a busy road in McAllen.; Includes three offices available for lease, generating extra income.
