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    Kennedy Ave McAllen, TX 78501

    For Sale
    $2,100,000

    6-Acre prime hotel land near convention center.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    363
    This exceptional 6-acre commercial land parcel presents a unique investment opportunity in McAllen, Texas. Ideally situated on newly constructed Kennedy Avenue, between Ware Road and Bentsen Road, this fee-simple property boasts a prime location just two blocks from Interstate 2/Expressway 83, ensuring convenient access and high visibility. The site offers sweeping views of Westside Park, including a pond, playing fields, and a direct connection to the McAllen Nature Center, featuring miles of trails through diverse natural habitats. This park-side setting provides a tranquil and attractive backdrop for a hotel development. The property's proximity to the McAllen Convention Center and Performing Arts Center, along with the nearby shopping and entertainment options at Palms Crossing Complex, creates a synergistic environment ideal for attracting guests and maximizing occupancy rates. Utilities are already in place, allowing for immediate development commencement, minimizing project timelines and costs. The property is zoned for commercial use, making it perfectly suited for a hotel project. This is a rare opportunity to acquire a well-positioned, ready-to-develop site in a thriving Texas market. The asking price is $2,100,000.

    Property Features for 0 Kennedy Ave

    General Information

    Property type
    Land
    Lot Size
    261,360 SF

    HighLights

    • Park‑side location with views of Westside Park.
    • Proximity to McAllen Convention Center and Performing Arts Center.
    • Nearby Palms Crossing shopping and entertainment.
    • Utilities already installed.
    • Located on new Kennedy Ave, with access to Ware Rd and Bentsen Rd.
    • Two blocks from Interstate 2/Expressway 83.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    McAllen
    County
    Hidalgo
    State
    Texas
    Longitude
    -98.271013072246
    Latitude
    26.199058724237

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    FAQs

    What type of property is this?
    Land - 6-Acre prime hotel land near convention center.
    Where is this land located?
    The property is located at Kennedy Ave McAllen, TX.
    What is the asking price?
    The asking price for this property is $2,100,000.
    What are key features of this property?
    This property features: Park-side location with views of Westside Park.; Proximity to McAllen Convention Center and Performing Arts Center.; Nearby Palms Crossing shopping and entertainment.
    (512) 633-5384
    Request Owner's contact information
    Kennedy Ave McAllen, TX 78501
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    Realmo Value Estimation

    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.

    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.

    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
    Kennedy Ave McAllen, TX 78501
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