Turnkey Laundromat and Office
For Sale
$665,000
809 N Ware Road McAllen, McAllen, TX 78501
Turnkey laundromat with 24 washers, 28 dryers, plus four on-site office rentals near Ware Rd and Pecan.
Property Size2,790 SF
Price / SF$238.35
Days on Market48
Property Features for 809 N Ware Road McAllen
General Information
Standard status
Active
Size
2,790 SF
Total Parking Spaces
16
Property subtype
Commercial
Occupancy
25%
Financials
Cap Rate
7.2%
Business Included
Yes
Additional Details
Office Units
4
Taxes and HOA fees
Annual Taxes
$7,339
Building Details
Building Size
2,790 SF
Year Built
1998
Listing Agency:
Cobos Real Estate Services LLC
(956) 802-1982
Listed By:
Alejandra E. Cobos · License #582452
Source:
Primeluxuryrealestate
Added: Jun 22
Changed: Aug 8
Last Checked: Aug 8 at 8:56AM
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
Investment Insights
Based on property information with market context.
This turnkey property in McAllen, TX combines an established laundromat with on-site rental offices. The laundromat is equipped with 24 commercial washers and 28 dryers, along with coin changers and vending machines. Most of the equipment is described as under warranty, and the business generates $75,000 in annual income from coins, changers, and vending. In addition, there are four on-site rental offices, with one currently leased and three vacant, creating room for incremental income through occupancy. The property is described as well-maintained and sized at approximately 2,790 square feet.
The site provides approximately 16 parking spaces and is positioned off Ware Rd and Pecan in a higher-traffic area. The offering is presented as a turnkey investment opportunity, and the listing remarks note low overhead.
For investors or owner-operators, this configuration offers immediate revenue from the laundromat alongside supplemental rental income potential from the office suites. For those not ready to purchase the real estate, the remarks also describe an option to buy the business and lease the space. Overall, the asset’s mixed-income setup and operational readiness are intended to appeal to buyers seeking a hands-on, income-producing operation.
The site provides approximately 16 parking spaces and is positioned off Ware Rd and Pecan in a higher-traffic area. The offering is presented as a turnkey investment opportunity, and the listing remarks note low overhead.
For investors or owner-operators, this configuration offers immediate revenue from the laundromat alongside supplemental rental income potential from the office suites. For those not ready to purchase the real estate, the remarks also describe an option to buy the business and lease the space. Overall, the asset’s mixed-income setup and operational readiness are intended to appeal to buyers seeking a hands-on, income-producing operation.
Key Highlights
- Established laundromat built in 1998 with 2,790 SF and 16 on‑site parking spaces
- Includes 24 commercial washers and 28 dryers (most under warranty), with coin changers and vending machines
- Generates $75,000 in annual income from laundry operations
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$39,822
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.99%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
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.
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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 5.99%
Second Best
Office B
$533.6K
$466.9K – $622.5K
NOI $37,351 @ 7.0% cap · market cap 5.62%
Theoretical Best
Office A
$757.6K
$662.9K – $883.9K
NOI $53,032 @ 7.0% cap · market cap 7.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Office units
25%
Occupancy
Turnkey business
Opportunity
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 Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Turnkey laundromat with 24 washers, 28 dryers, plus four on-site office rentals near Ware Rd and Pecan.
Where is this retail space located?
The property is located at 809 N Ware Road McAllen McAllen, TX.
What is the asking price?
The asking price for this property is $665,000.
What are key features of this property?
This property features: Established laundromat built in 1998 with 2,790 SF and 16 on‑site parking spaces; Includes 24 commercial washers and 28 dryers (most under warranty), with coin changers and vending machines; Generates $75,000 in annual income from laundry operations
