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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1212 23rd St Mcallen, TX 78501-7454

    • Showrooms
    • 6,000 SF
    • 1.67 lot acres
    OFF-MARKET
    Value Estimations
    $810,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-3726934
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Tejas Equipment Rental / (Bike/Boat/Book/etc) Store / Rental Equipment Company
    • ERJ's Convenience Store / Grocery & Convenience Store / Food Market
    • Big John Site Services / Building Supply
    • Tejas Party Rentals / Party Supply Store / Rental Equipment Company
    • Sordos / Restaurant

    Property Details for 1212 23rd St

    Year built
    1983
    Lot size
    1.67 lot acres
    Property size
    6,000 SF
    Zone code
    RCB
    Property type
    Showrooms
    APN
    T1370-00-000-0001-00
    APU
    T137000000000100

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,215,000
      6.5%
      $1,120,000
      7%
      $1,040,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $860,000
      Market price range: $257k - $1.58M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $670,000
      Current use
      AUTO REPAIR, GARAGE
      $830,000
      Change: +23% Conversion: Difficult
      RESTAURANT
      $665,000
      Change: -1% Conversion: Difficult
      OFFICE BUILDING
      $635,000
      Change: -6% Conversion: Easy
      MEDICAL BUILDING
      $585,000
      Change: -13% Conversion: Easy
      RETAIL STORES
      $585,000
      Change: -13% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Mcallen
    County
    Hidalgo
    State
    Texas
    Longitude
    -98.2432
    Latitude
    26.2166
    CBSA code
    32580
    CBSA name
    MCALLEN-EDINBURG-MISSION, TX METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $12,026
    $254,310
    $346,993
    $601,303
    -
    $254,310
    $346,993
    $601,303

    Comparable in this City

    • Value Estimation
      $3,445,000
      18,598 SF

      3300 Expy 83rd, Unit 900

      SHOW ROOM, WAREHOUSE • 18,598 SF
      3300 Expy 83rd, Mcallen, TX 78501-8350
      View Details
    • Value Estimation
      $1,205,000
      6,326 SF

      3501 10th St

      SHOW ROOM, WAREHOUSE • 6,326 SF
      3501 10th St, Mcallen, TX 78501-1931
      View Details
    • Value Estimation
      $1,125,000
      6,050 SF

      5100 Pecan Blvd

      SHOW ROOM, WAREHOUSE • 6,050 SF
      5100 Pecan Blvd, Mcallen, TX 78501-4993
      View Details
    • Value Estimation by Request
      10,000 SF

      1321 Tamarack Ave

      SHOW ROOM, WAREHOUSE • 10,000 SF
      1321 Tamarack Ave, Mcallen, TX 78501-5628
      View Details
    • Value Estimation
      $1,050,000
      20,390 SF

      1411 Us Hwy 83

      SHOW ROOM, WAREHOUSE • 20,390 SF
      1411 Us Hwy 83, Mcallen, TX 78501-5137
      View Details
    • Value Estimation by Request
      2,375 SF

      123 Us Hwy 83

      SHOW ROOM, WAREHOUSE • 2,375 SF
      123 Us Hwy 83, Mcallen, TX 78501
      View Details

    Similar Nearby for Sale

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      5,800 SF

      Downtown McAllen Retail/Office Space

      5,800 SF retail, office, or showroom in McAllen, TX.
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      Retail Property on Corner Lot

      Retail property with eight spaces on a corner lot.
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      Prime downtown McAllen location for bar, restaurant, or retail.
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      Prime McAllen storefront, 5,800 SF, 3 units.
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      Two buildings plus parking lot in downtown McAllen, TX.
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      McAllen Mixed-Use Corner Property

      Versatile 3,060 sq ft property suitable for business or residence.
      2929 N Ware Rd, McAllen, TX 78501
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    Similar Nearby for Lease

    • $24 SF/Yr
      3,300 SF

      Retail Space in North McAllen

      Retail spaces available in high-traffic North McAllen location.
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      View Details
    • Contact for pricing
      10,700 SF

      Mixed-Use Lifestyle Center for Lease

      Mixed-use center with retail, restaurant, cinema, and entertainment venues.
      1401 S Ware Rd, McAllen, TX 78501
      View Details
    • Contact for pricing
      2,320 SF

      Retail Space in Regional Center

      Endcap space available in high-traffic McAllen power center.
      1700 S 10Th St, McAllen, TX 78501
      View Details
    • Contact for pricing
      6,000 SF

      Retail Space on S 10th

      Retail opportunity near Expressway 83 and S 10th Street.
      802 S 10Th St, McAllen, TX 78501
      View Details
    • $1.80 SF/Yr
      2,070 SF

      Retail Space For Lease

      Retail space available for lease with street visibility.
      705 E Fir Ave, McAllen, TX 78501
      View Details
    • Contact for pricing
      102,231 SF

      Central McAllen Retail Space

      Prime McAllen retail, multiple suites available.
      901 10Th St, McAllen, TX 78501
      View Details
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    1212 23rd St
    Mcallen, TX 78501-7454
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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
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