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

    2003 Nolana Ave Mcallen, TX 78504-4165

    • Office buildings
    • 4,947 SF
    • 0.40 lot acres
    OFF-MARKET
    Last Sale
    Nov 02, 2020
    Value Estimations
    $465,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-2732499
    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

    • Office buildings

    Property Details for 2003 Nolana Ave

    Year built
    2001
    Lot size
    0.40 lot acres
    Property size
    4,947 SF
    Property type
    Office buildings
    APN
    T8265-00-000-0011-00
    APU
    T826500000001100

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $355,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $581,000
      Market price range: $392k - $762k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $575,000
      Current use
      MEDICAL BUILDING
      $485,000
      Change: -15% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $475,000
      Change: -17% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Mcallen
    County
    Hidalgo
    State
    Texas
    Longitude
    -98.2351
    Latitude
    26.2401
    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
    $9,384
    $147,849
    $321,354
    $469,203
    -
    $147,849
    $321,354
    $469,203

    Comparable in this City

    • Value Estimation
      $215,000
      748 SF

      210 Nolana Ave

      OFFICE BUILDING • 748 SF
      210 Nolana Ave, Mcallen, TX 78504-2582
      View Details
    • Value Estimation
      $490,000
      19,689 SF

      1900 Nolana Ave

      OFFICE BUILDING • 19,689 SF
      1900 Nolana Ave, Mcallen, TX 78504-4121
      View Details
    • Value Estimation
      $245,000
      925 SF

      4106 22nd St

      OFFICE BUILDING • 925 SF
      4106 22nd St, Mcallen, TX 78504-4147
      View Details
    • Value Estimation
      $675,000
      8,000 SF

      4313 10th St

      OFFICE BUILDING • 8,000 SF
      4313 10th St, Mcallen, TX 78504-3061
      View Details
    • Value Estimation
      $545,000
      10,526 SF

      5300 Mccoll Rd

      OFFICE BUILDING • 10,526 SF
      5300 Mccoll Rd, Mcallen, TX 78504-3696
      View Details
    • Value Estimation
      $280,000
      1,500 SF

      308 Nolana Ave

      OFFICE BUILDING • 1,500 SF
      308 Nolana Ave, Mcallen, TX 78504-2528
      View Details

    Similar Nearby for Sale

    • $800,000
      4,963 SF

      McAllen Office Building For Sale

      Freestanding office building in North McAllen with two units.
      6316 N 10Th St, McAllen, TX 78504
      View Details
    • $1,900,000
      8.70 Acres

      8.7 Acres Investment Opportunity

      Income-producing land with development potential in a high-growth corridor.
      4901 Buddy Owens Blvd, McAllen, TX 78504
      View Details
    • $395,000

      McAllen Commercial Land - $395K

      High-visibility lot, ideal for development.
      1425 State Highway 107, McAllen, TX 78504
      View Details
    • $949,000
      Pending

      Finished Office Space Near Nolana

      Spacious, high-end office ideal for legal or professional practices.
      1305 E Nolana Ave, McAllen, TX 78504
      View Details
    • $485,000

      McAllen Office Building - $485K

      Prime McAllen Office Space, Leased, High ROI
      4020 22Nd St, McAllen, TX 78504
      View Details
    • $1,500,000

      McAllen Commercial Property: Prime Location

      Income-producing, versatile commercial property in McAllen, TX.
      5700 Ware Rd, McAllen, TX 78504
      View Details

    Similar Nearby for Lease

    • $24 SF/Yr
      4,104 SF

      Prime McAllen Office Space

      Class A Office Suites, 8 Units Available
      309 Nolana Ave, McAllen, TX 78504
      View Details
    • $26 SF/Yr
      1,320 SF

      McAllen Commercial Land & Building

      Prime McAllen location; versatile commercial space.
      7701 29Th St, McAllen, TX 78504
      View Details
    • $18 SF/Yr
      4,520 SF

      McAllen Retail or Office Space

      Office or retail space with high traffic and ample parking.
      3711 N 10Th St, McAllen, TX 78504
      View Details
    • Contact for pricing
      10,465 SF

      Medical Office Space Available

      Medical office suite for rent in McAllen, Texas.
      3220 Buddy Owens Ave, McAllen, TX 78504
      View Details
    • $26 SF/Yr
      1,320 SF

      McAllen Commercial Land & Building

      Prime McAllen location; versatile commercial space.
      7701 29Th St, McAllen, TX 78504
      View Details
    • $26 SF/Yr
      1,320 SF

      McAllen Commercial Land & Building

      Prime McAllen location, 1.45 acres, 1320 sq ft.
      7701 29Th St, McAllen, TX 78504
      View Details
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    2003 Nolana Ave
    Mcallen, TX 78504-4165
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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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