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

    1400 N Ware Rd McAllen, TX 78501

    • Grocery and convenience stores
    • 5,072 SF
    • 1.42 lot acres
    For Sale
    View listing
    $1,100,000
    Last Sale
    Sep 08, 2023
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-1567951
    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

    • Grocery and convenience stores

    Property Details for 1400 N Ware Rd

    Year built
    2022
    Lot size
    1.42 lot acres
    Property size
    5,072 SF
    Property type
    Grocery and convenience stores
    APN
    S0060-00-000-0001-00
    APU
    S006000000000100

    Description

    This exceptional 1.268-acre commercial land parcel presents a compelling investment opportunity in McAllen, Texas. Located at 1400 N Ware Road, this property boasts approximately 201 feet of frontage and 295 feet of depth, offering significant development potential. Currently zoned C-3 General Business by the City of McAllen, the property includes a 2,854 square foot structure, sold as-is, with the sale price reflecting land value only. Prospective buyers are responsible for conducting thorough due diligence, including verifying zoning and obtaining necessary permits for their intended use. The strategic location adjacent to the northeast corner of Pecan/495 and Ware Road provides excellent visibility and accessibility. The area is characterized by a mix of residential (1-4 family subdivisions), retail, and educational institutions, including James "Nikki" Rowe High School (over 4,200 students) and South Texas College (approximately 31,000 students and 1,600 staff across six campuses). This prime location offers endless possibilities for commercial development, making it an ideal investment for discerning buyers. The property's 1977-built structure is not factored into the asking price of $1,100,000. The zip code is 78501.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $400,000

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $275,000
      Current use
      COMMERCIAL (GENERAL)
      $570,000
      Change: +105% Conversion: Easy
      RESTAURANT
      $560,000
      Change: +103% Conversion: Difficult
      OFFICE BUILDING
      $535,000
      Change: +94% Conversion: Moderate
      MEDICAL BUILDING
      $495,000
      Change: +78% Conversion: Difficult
      RETAIL STORES
      $490,000
      Change: +78% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $280,000
      Change: +1% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Mcallen
    County
    Hidalgo
    State
    Texas
    Longitude
    -98.2634
    Latitude
    26.1972
    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
    $21,263
    $928,368
    $134,785
    $1,063,153
    -
    $928,368
    $134,785
    $1,063,153

    Comparable in this City

    • Value Estimation
      $1,265,000
      78,021 SF

      3601 Pecan Blvd

      GROCERY, SUPERMARKET • 78,021 SF
      3601 Pecan Blvd, Mcallen, TX 78501-3512
      View Details
    • Value Estimation
      $395,000
      2,000 SF

      1622 23rd St

      CONVENIENCE STORE • 2,000 SF
      1622 23rd St, Mcallen, TX 78501-6737
      View Details
    • Value Estimation
      $310,000
      1,464 SF

      2121 Ebony Ave

      CONVENIENCE STORE • 1,464 SF
      2121 Ebony Ave, Mcallen, TX 78501-6973
      View Details
    • Value Estimation
      $245,000
      2,434 SF

      501 17th St

      CONVENIENCE STORE • 2,434 SF
      501 17th St, Mcallen, TX 78501-4748
      View Details
    • Value Estimation
      $375,000
      1,862 SF

      1225 23rd St

      CONVENIENCE STORE • 1,862 SF
      1225 23rd St, Mcallen, TX 78501-7455
      View Details
    • Value Estimation
      $340,000
      5,406 SF

      Fm 1015

      GROCERY, SUPERMARKET • 5,406 SF
      Fm 1015, Mcallen, TX 78501
      View Details

    Similar Nearby for Sale

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      Downtown McAllen Retail Investment

      Prime McAllen storefront, 5,800 SF, 3 units.
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    • $1,100,000
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      Versatile Commercial Property in McAllen

      3,060 sq ft property suitable for business or office.
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      Commercial property in McAllen's Entertainment District, currently leased.
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      McAllen Commercial Building For Sale

      20,206 SF commercial building suitable for retail or office.
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      View Details

    Similar Nearby for Lease

    • Contact for pricing
      103,781 SF

      McAllen Retail Center Investment Opportunity

      High-traffic retail space, flexible sizes available.
      10th St. & Jackson Ave, McAllen, TX 78501
      View Details
    • $26 SF/Yr
      1,200 SF

      Retail Space on Main Street

      Retail space available for rent on Main Street.
      124 S Main St, McAllen, TX 78501
      View Details
    • $1.14 SF/Yr
      4,080 SF

      Prime Retail Space on 23rd

      High-traffic retail space with excellent exposure and ample parking.
      1800 N 23Rd St, McAllen, TX 78501
      View Details
    • $1.70 SF/Yr
      1,050 SF

      McAllen Retail Space For Rent

      Retail space with high visibility and easy access in McAllen.
      2131 N Jackson Rd, McAllen, TX 78501
      View Details
    • $1,350 /Mo
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      Prime Retail/Office Corner Opportunity

      High-visibility retail or office space for lease in McAllen.
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      View Details
    • $18 SF/Yr
      2,400 SF

      Retail/Office Space Near La Plaza

      Open layout retail or office space with modern finishes.
      1908-1920 S Main St, McAllen, TX 78501
      View Details
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    McAllen, TX 78501
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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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