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

    1900 23rd St Mcallen, TX 78503-5717

    • Strip malls
    • 44,004 SF
    • 4.32 lot acres
    OFF-MARKET
    Last Sale
    Feb 25, 2022
    Value Estimations
    $1,910,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-0935063
    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

    • Americana Bingo / Restaurant / Bingo Hall
    • Watermill Express / Bottled Water Supplier / Drinking Water Fountain
    • Villa Del Mar Restaurant McAllen / Seafood Restaurant / Mexican Restaurant
    • CSL Plasma / Blood Donation Center
    • SpinXpress Laundry - South McAllen - Wash & Fold Services / Laundry / Laundry Service

    Property Details for 1900 23rd St

    Year built
    2003
    Lot size
    4.32 lot acres
    Property size
    44,004 SF
    Zone code
    C-3
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    M1500-02-000-0001-00
    APU
    M150002000000100

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $1,215,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $2,605,000
      Market price range: $1.93M - $5.30M

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

    Location Insight

    • Map
    • Local Demand
    City
    Mcallen
    County
    Hidalgo
    State
    Texas
    Longitude
    -98.249
    Latitude
    26.1895
    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
    $90,008
    $1,176,225
    $3,324,153
    $4,500,378
    -
    $1,176,225
    $3,324,153
    $4,500,378

    Comparable in this City

    • Value Estimation
      $3,695,000
      143,400 SF

      924 Expy 83

      SHOPPING CENTER, STRIP CENTER • 143,400 SF
      924 Expy 83, Mcallen, TX 78503-1613
      View Details
    • Value Estimation
      $645,000
      14,072 SF

      2000 Mccoll Rd

      SHOPPING CENTER, STRIP CENTER • 14,072 SF
      2000 Mccoll Rd, Mcallen, TX 78503-1501
      View Details
    • Value Estimation
      $1,665,000
      6,480 SF

      4129 Expy 83

      SHOPPING CENTER, STRIP CENTER • 6,480 SF
      4129 Expy 83, Mcallen, TX 78503-8441
      View Details
    • Value Estimation
      $745,000
      14,745 SF

      2000 Mccoll Rd

      SHOPPING CENTER, STRIP CENTER • 14,745 SF
      2000 Mccoll Rd, Mcallen, TX 78503-1501
      View Details
    • Value Estimation
      $960,000
      27,300 SF

      5000 Military Hwy

      SHOPPING CENTER, STRIP CENTER • 27,300 SF
      5000 Military Hwy, Mcallen, TX 78503-7445
      View Details
    • Value Estimation
      $695,000
      13,950 SF

      4800 23rd St

      SHOPPING CENTER, STRIP CENTER • 13,950 SF
      4800 23rd St, Mcallen, TX 78503-8692
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      27,456 SF

      Sharyland Flex Office/Industrial Space

      Flexible spaces in Sharyland Business Park with Military Highway frontage.
      4600 W Military Hwy, McAllen, TX 78503
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    • $425,000
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      Established Automotive Shop Opportunity

      Long-standing auto mechanic shop available for sale.
      215 N 2Nd St, McAllen, TX 78503
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    • $5,000,000
      13,585 SF

      Established Restaurant in High Traffic Area

      Well-established restaurant in McAllen, TX, near hotels and the airport.
      601 Expressway 83 W, McAllen, TX 78503
      View Details
    • $3,000,000
      1.34 Acres

      McAllen Hotel Investment Opportunity

      Prime McAllen hotel, 60 rooms, high growth area.
      3201 10Th St, McAllen, TX 78503
      View Details
    • $1,529,000
      2.34 Acres

      McAllen Commercial Land - $1.5M

      2.34 Acres, High Traffic, Prime Location
      717 Ridge Rd, McAllen, TX 78503
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    • Contact for pricing
      27,465 SF

      McAllen Office Building: Prime Location

      Executive & Medical Office Space Available
      4600 Military Hwy, McAllen, TX 78503
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      6,000 SF

      Mixed-Use Lifestyle Center Available

      Mixed-use center with retail, restaurant, and entertainment options.
      3401 Expressway 83 W, McAllen, TX 78503
      View Details
    • Contact for pricing
      12,500 SF

      Mixed-Use Lifestyle Center Available

      Mixed-use center with retail, restaurant, and entertainment options.
      3501 Expressway 83 W, McAllen, TX 78503
      View Details
    • $15 SF/Yr
      14,072 SF

      Retail Plaza Near Interstate 2

      Retail spaces available in a high-traffic McAllen location.
      2000 S Mccoll Rd, McAllen, TX 78503
      View Details
    • $15 SF/Yr
      1,440 SF

      Prime Commercial Office Space

      Executive Suites, Great Location, 1440 sq ft
      2711 23Rd St, McAllen, TX 78503
      View Details
    • $1,600 /Mo
      46,265 SF

      Hotel Storefront Opportunity in McAllen

      Commercial space in high-traffic hotel, ideal for retail.
      2000 S 10Th St, McAllen, TX 78503
      View Details
    • Contact for pricing
      4,534 SF

      McAllen Retail Space - Prime Location

      High-traffic retail spaces available in McAllen, TX.
      708 Expressway 83, McAllen, TX 78503
      View Details
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    1900 23rd St
    Mcallen, TX 78503-5717
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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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