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    The Largest CRE Database in the US with Over 1 Million Listings

    315 Nolana Ave McAllen, TX 78504

    Sponsored
    For Lease
    $26 SF/Yr

    8,712 sq ft lot, single-tenant office.

    Lot size:
    180 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    409
    This exceptional 8,712 square foot commercial land parcel, located at 315 Nolana Avenue in McAllen, Texas, presents a unique opportunity for businesses seeking a prominent location in a high-traffic area of North McAllen. The property is zoned for office use and is currently improved with a single-tenant office building of 180 square feet. The site offers significant potential for redevelopment or expansion, given its substantial lot size. The property's address, 315 Nolana Avenue, ensures high visibility and accessibility, benefiting from the area's considerable traffic volume. While the existing building is small, the expansive lot provides ample space for future development to accommodate a larger business or multiple tenants. The property's APN is L290003000000602. Utilities are readily available, and the lease includes electricity and water. The property is classified as both Commercial and Executive Office space, making it suitable for a variety of professional uses. The zip code is 78504. This is a single-tenant property with no designated parking spaces on the lot itself. This prime location offers a strong foundation for business growth and success in a thriving McAllen commercial sector.

    Property Features for 315 Nolana Ave

    General Information

    Property type
    Office Properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    180 SF

    Unit(s) available at that property

    Space
    E
    Size
    180 SF
    Rate per SF
    $26

    We can help!

    Listing Contact
    Jasen Hardison
    Jasen Hardison

    Learn more

    Property Insight Report

    HighLights

    • 8,712 SF commercial lot in high‑traffic North McAllen, TX.
    • Zoned for office use; currently improved with an 180 SF single‑tenant building.
    • Significant redevelopment/expansion potential.
    • High visibility at 315 Nolana Ave., McAllen, TX 78504 (APN: L290003000000602).
    • Utilities available; suitable for various professional uses.
    • Single‑tenant; no designated parking.
    Property Profile Location Intelligence

    Current Use by Public Records

    Farmers Insurance - Francisco ... Insurance Agency Enedelia Olivarez, M.ED., ... Counselor Mary Sew Alteration’s Tailor BBLedgers Bookkeeping Service NATIONAL Bookkeeping Company® Bookkeeping Service

    Suggested Use

    Law Firm Realty agency Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    McAllen
    County
    Hidalgo
    State
    Texas
    Longitude
    -98.216832
    Latitude
    26.2378709

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    FAQs

    What type of property is this?
    Office Property Space - 8,712 sq ft lot, single-tenant office.
    Where is this office property space located?
    The property is located at 315 Nolana Ave McAllen, TX.
    What is the lease rate?
    The lease rate is $26 SF/Yr.
    What are key features of this property?
    This property features: 8,712 SF commercial lot in high-traffic North McAllen, TX.; Zoned for office use; currently improved with an 180 SF single-tenant building.; Significant redevelopment/expansion potential.
    Request Owner's contact information
    315 Nolana Ave McAllen, TX 78504
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    McAllen, TX 78504
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    315 Nolana Ave McAllen, TX 78504
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    Listing Contact
    Jasen Hardison
    Jasen Hardison
    Learn more
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