Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    1405 23rd St Mcallen, TX 78501-7227
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1405 23rd St Mcallen, TX 78501-7227

    View on Map
    • Office buildings
    • 1,019 SF
    • 0.23 lot acres
    Off-Market
    Last Sale Aug 24, 2022
    Property ID
    US82-2526075
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • American Auto Sales / Car Dealership
    • Gonzalez Auto Parts #15 / Auto Parts Store

    Property Details for 1405 23rd St

    Year built
    1995
    Lot size
    0.23 lot acres
    Property size
    1,019 SF
    Property type
    Office buildings
    APN
    C6300-00-019-0013-00
    APU
    C630000019001300

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Mcallen
    County
    Hidalgo
    State
    Texas
    Longitude
    -98.2468
    Latitude
    26.1934
    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
    $2,926
    $95,177
    $51,122
    $146,299
    -
    $95,177
    $51,122
    $146,299

    Comparable in this City

    • Value Estimation by Request
      252 SF

      83 Ww St

      OFFICE BUILDING • 252 SF
      83 Ww St, Mcallen, TX 78501
      View Details
    • Value Estimation by Request
      624 SF

      803 Whitewing Ave

      OFFICE BUILDING • 624 SF
      803 Whitewing Ave, Mcallen, TX 78501-5547
      View Details
    • Value Estimation
      $3,965,000
      28,985 SF

      1200 Commerce Ctr

      OFFICE BUILDING • 28,985 SF
      1200 Commerce Ctr, Mcallen, TX 78501-1462
      View Details
    • Value Estimation by Request
      1,000 SF

      1011 Sycamore Ave

      OFFICE BUILDING • 1,000 SF
      1011 Sycamore Ave, Mcallen, TX 78501-4145
      View Details
    • Value Estimation
      $4,170,000
      30,269 SF

      1101 Hackberry Ave

      OFFICE BUILDING • 30,269 SF
      1101 Hackberry Ave, Mcallen, TX 78501-6648
      View Details
    • Value Estimation
      $5,580,000
      47,165 SF

      1100 Laurel Ave

      OFFICE BUILDING • 47,165 SF
      1100 Laurel Ave, Mcallen, TX 78501-5722
      View Details

    Similar Nearby for Sale

    • $700,000
      5,000 SF

      Downtown McAllen Office Building For Sale

      Downtown McAllen office building with two offices, new roof.
      516 S Broadway St, McAllen, TX 78501
      View Details
    • $499,900

      Free-Standing Office Building For Sale

      Well-maintained 2,250 SF office building in a central location.
      1609 N 6Th St, McAllen, TX 78501
      View Details
    • Contact for pricing
      3,578 SF

      McAllen Office Building For Sale

      2,400 SF office building in a prime McAllen location.
      1911 N 23Rd St, McAllen, TX 78501
      View Details
    • $700,000
      5,000 SF

      Downtown McAllen Investment Opportunity

      5,000 SF building in prime downtown location.
      516-518 S Broadway St, McAllen, TX 78501
      View Details
    • Contact for pricing
      5,180 SF

      McAllen Mixed-Use Income Property

      High-visibility McAllen property with multiple income-generating features.
      2243 Pecan Blvd, McAllen, TX 78501
      View Details
    • $3,450,000
      9,600 SF

      Flex Space Portfolio For Sale

      Two flex space buildings near Interstate Highway 2 and Business Hwy 83.
      1313 E Jasmine Ave, McAllen, TX 78501
      View Details

    Similar Nearby for Lease

    • $1.75 SF/Yr

      Class A Office Building

      Class A office building in the Rio Grande Valley.
      1400 N Mccoll Rd, McAllen, TX 78501
      View Details
    • Contact for pricing

      Chase Tower Office Space

      Prestigious office building in McAllen's CBD with move-in ready suites.
      200 S 10Th St, McAllen, TX 78501
      View Details
    • Contact for pricing

      Prestigious Office Space in McAllen

      Landmark building with views, security, and convenient location.
      200 S 10Th St, McAllen, TX 78501
      View Details
    • $12,113 /Mo
      6,548 SF

      McAllen Office Space Available

      6,548 sq ft office space in McAllen, Texas.
      3101 W Military Hwy, McAllen, TX 78501
      View Details
    • $475 /Mo
      8,500 SF

      Renovated Office Spaces in McAllen

      Professional office spaces with included utilities and shared facilities.
      804 Pecan Blvd, McAllen, TX 78501
      View Details
    • Contact for pricing

      McAllen Retail/Office Space Available

      Versatile space in prime location near Expressway, ideal for various uses.
      906 E Us Highway 83, McAllen, TX 78501
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1405 23rd St
    Mcallen, TX 78501-7227
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!