2101 2nd St Mcallen, TX 78503

Property Details for 2101 2nd St

Year built

1991

Property size

30,382 SF

Property type

Commercial real estate

APN

R2732-98-003-000A-01

APU

R273298003000A01

Description

This exceptional investment opportunity presents a 31,428-square-foot, two-tenant shopping center in McAllen, Texas. The property boasts 100% occupancy with a strong tenant mix: Columbia Rio Grande Healthcare (60% of the space) and Workforce Solutions (40%). Columbia Rio Grande Healthcare recently signed a new 10-year lease with built-in annual rent increases, ensuring consistent income growth. Both tenants are on triple-net leases with renewal options, minimizing landlord responsibilities. Built in 1991, this single-building property sits on a 2.14-acre lot at a prime location on South 2nd Street, near the intersection with Savannah Avenue, enjoying high visibility and convenient access to Interstate Highway 2. Daily traffic counts on South 2nd Street exceed 15,748 vehicles. The property benefits from its proximity to major medical facilities, including South Texas Health System McAllen (a Level II Trauma Center) and Rio Grande Regional Hospital, serving a large and growing population. The strong daytime employment population (103,606 within a five-mile radius) and dense residential area (over 226,175 residents within five miles) contribute to the property's exceptional location within the McAllen-Edinburg-Mission MSA and the Reynosa-McAllen Metropolitan Area, serving approximately 1.5 million people. The asking price is $8,314,322, representing a 6.93% cap rate and a price per square foot of $264.55, based on a net operating income (NOI) of $576,591. This is a rare opportunity to acquire a stable, high-performing asset in a thriving market.

Location Insight

City

Mcallen

County

Hidalgo

State

Texas

Longitude

-98.2237

Latitude

26.1832

CBSA code

32580

CBSA name

MCALLEN-EDINBURG-MISSION, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments