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    6401 23Rd St McAllen, TX 78503

    For Sale
    $3,250,000

    High-traffic 2.21-acre retail plaza

    Property size:
    20,500 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    362
    This exceptional 2.21-acre commercial land parcel, located at 6401 S 23rd Street #20 in McAllen, Texas, presents a compelling investment opportunity. Situated within the bustling Warehouse Kingdom Industrial Park, this property boasts high visibility due to its prime Southeast corner location at the intersection of 23rd Street and Military Highway. The 20,500 square foot lot was developed in 2019 and currently has a 32% occupancy rate, offering immediate passive rental income potential. This makes it an ideal acquisition for an owner-user seeking both commercial space and a steady revenue stream. The property's strategic location within a high-traffic area ensures significant exposure for any business operating on the site. The 78503 zip code further underscores its advantageous position within a thriving commercial district. Detailed information regarding current tenants and lease agreements is available upon request. This is a rare opportunity to acquire a well-positioned commercial property in a rapidly growing market. Don't miss out on this chance to secure a valuable asset with significant upside potential. Contact us today to learn more and schedule a viewing.

    Property Features for 6401 23Rd St

    General Information

    Property type
    Land
    Square Feet
    20,500 SF
    Lot Size
    96,268 SF

    Building Details

    Year Built
    2019
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    El Tranvia Restaurant dyn central Mobile Phone Repair Shop Cricket Wireless Authorized ... Cell Phone Store AM Mex Products ... Manufacturer La Casita De ... Mexican Restaurant

    Suggested Use

    Restaurant Law Firm Spa & Massage Building Supply Dental Office Hair Salon Auto Repair Shop Nail Salon Hotel & Motel Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    McAllen
    County
    Hidalgo
    State
    Texas
    Longitude
    -98.2525233
    Latitude
    26.1495297

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    FAQs

    What type of property is this?
    Land - High-traffic 2.21-acre retail plaza
    Where is this land located?
    The property is located at 6401 23Rd St McAllen, TX.
    What is the asking price?
    The asking price for this property is $3,250,000.
    Request Owner's contact information
    6401 23Rd St McAllen, TX 78503
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    McAllen, TX 78503
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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
    6401 23Rd St McAllen, TX 78503
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