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    1600 23rd St Mcallen, TX 78501-6737
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    1600 23rd St Mcallen, TX 78501-6737

    View on Map
    • Showrooms
    • 35,165 SF
    • 3.04 lot acres
    Off-Market
    Property ID
    US82-3170438
    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
    $3,965,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Rotary Club of McAllen / Nightclub / Music Venue
    • Exxon / Gas Station
    • 7-Eleven / Grocery & Convenience Store
    • The Salvation Army of McAllen / Discount Store
    • Subway / Restaurant / Take-out & Catering

    Property Details for 1600 23rd St

    Year built
    1991
    Lot size
    3.04 lot acres
    Property size
    35,165 SF
    Zone code
    C
    Property type
    Showrooms
    APN
    S6650-00-000-0000-04
    APU
    S665000000000004

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $4,277,000
      Market price range: $1.51M - $9.29M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $3,935,000
      Current use
      AUTO REPAIR, GARAGE
      $4,855,000
      Change: +23% Conversion: Difficult
      RESTAURANT
      $3,895,000
      Change: -1% Conversion: Difficult
      OFFICE BUILDING
      $3,720,000
      Change: -6% Conversion: Easy
      MEDICAL BUILDING
      $3,425,000
      Change: -13% Conversion: Easy
      RETAIL STORES
      $3,415,000
      Change: -13% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Mcallen
    County
    Hidalgo
    State
    Texas
    Longitude
    -98.242
    Latitude
    26.2195
    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
    2023
    $0.00
    $1,788,750
    $1,200,937
    $2,989,687
    -
    $1,788,750
    $1,200,937
    $2,989,687

    Comparable in this City

    • Value Estimation
      $3,520,000
      32,000 SF

      1318 10th St

      SHOW ROOM, WAREHOUSE • 32,000 SF
      1318 10th St, Mcallen, TX 78501-4358
      View Details
    • Value Estimation
      $9,940,000
      110,619 SF

      409 Jackson Ave

      SHOW ROOM, WAREHOUSE • 110,619 SF
      409 Jackson Ave, Mcallen, TX 78501-2841
      View Details
    • Value Estimation
      $2,495,000
      22,318 SF

      3325 10th St

      SHOW ROOM, WAREHOUSE • 22,318 SF
      3325 10th St, Mcallen, TX 78501-1927
      View Details
    • Value Estimation by Request
      1,020 SF

      1103 23rd St

      SHOW ROOM, WAREHOUSE • 1,020 SF
      1103 23rd St, Mcallen, TX 78501-7221
      View Details
    • Value Estimation
      $930,000
      20,086 SF

      1101 23rd St

      SHOW ROOM, WAREHOUSE • 20,086 SF
      1101 23rd St, Mcallen, TX 78501-7470
      View Details
    • Value Estimation
      $1,475,000
      8,400 SF

      2801 10th St

      SHOW ROOM, WAREHOUSE • 8,400 SF
      2801 10th St, Mcallen, TX 78501-1914
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      5,800 SF

      Downtown McAllen Retail/Office Space

      5,800 SF retail, office, or showroom in McAllen, TX.
      321-323 S Broadway St, McAllen, TX 78501
      View Details
    • Contact for pricing
      5,800 SF

      Downtown McAllen Retail/Office Opportunity

      5,800 SF retail, office, or showroom space in McAllen.
      323 S Broadway St, McAllen, TX 78501
      View Details
    • Contact for pricing
      7,000 SF

      Freestanding Retail Property For Sale

      Retail property in a high-visibility location with ease of access.
      1010 N 10Th St, McAllen, TX 78501
      View Details
    • $699,000
      6,802 SF

      Historic Building in Downtown McAllen

      Prime location in McAllen's Entertainment District.
      201 S 17Th St, McAllen, TX 78501
      View Details
    • $1,100,000
      3,060 SF

      McAllen Mixed-Use Corner Property

      Versatile 3,060 sq ft property suitable for business or residence.
      2929 N Ware Rd, McAllen, TX 78501
      View Details
    • $2,500,000
      14,975 SF

      Prime Corner Retail Opportunity

      Two buildings plus parking lot in downtown McAllen, TX.
      120 S Broadway St, McAllen, TX 78501
      View Details

    Similar Nearby for Lease

    • $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
      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
    • $25 SF/Yr
      7,538 SF

      New Plaza on Pecan Boulevard

      New plaza with suites for retail, office, or professional use.
      4217 Pecan Blvd, McAllen, TX 78501
      View Details
    • Contact for pricing
      15,000 SF

      Retail Pads Available For Lease

      Retail pads available for lease with multiple building options.
      1220 S Bentsen Rd, McAllen, TX 78501
      View Details
    • $700 /Mo
      200 SF

      Retail/Office Space on N 23rd

      200 sq ft retail/office space with utilities included.
      1500 N 23Rd St, McAllen, TX 78501
      View Details
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    1600 23rd St
    Mcallen, TX 78501-6737
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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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