Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    2208 Galveston Ave McAllen, TX 78501

    • Small apartment buildings
    For Sale
    View listing
    $460,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-3390719
    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

    • Small apartment buildings

    Property Details for 2208 Galveston Ave

    Year built
    2023
    Property type
    Small apartment buildings

    Description

    This exceptional 2023-built triplex located at 2208 Galveston Avenue in McAllen, Texas, presents a lucrative investment opportunity. The property boasts three identical units, each offering three bedrooms and two bathrooms, totaling over 1,000 square feet of living space. Modern finishes throughout each unit contribute to high rental demand and potential for strong cash flow. Separate utilities for each unit simplify management and enhance tenant satisfaction. The property sits on a sizable 6,969.6 square foot lot, providing ample off-street parking for residents. Its prime location in McAllen, within close proximity to various amenities, further enhances its appeal to renters. This turnkey investment is ideal for both seasoned investors seeking a high return on investment and families considering multi-generational living arrangements. The asking price for this exceptional property is $460,000. The property consists of one building and is situated in Hidalgo County, Texas, zip code 78501. This is a rare opportunity to acquire a nearly new, high-quality multifamily property in a thriving Texas market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    McAllen
    County
    Hidalgo
    State
    Texas
    Longitude
    -98.2447213
    Latitude
    26.1991162

    Comparable in this City

    • $535,000

      McAllen 5-Plex Apartment Building

      Five-unit apartment building, excellent location.
      3813 7Th Ct, McAllen, TX 78501
      View Details
    • $259,900

      McAllen Duplex: Prime Location Investment

      Two-unit duplex, excellent location, high potential.
      603 Bicentennial Blvd, McAllen, TX 78501
      View Details
    • $180,000

      McAllen Triplex: Prime Investment

      Three-unit fixer-upper, great location.
      2525 Erie Ave, McAllen, TX 78501
      View Details
    • $495,999

      McAllen Fourplex: Prime Investment

      Four-unit apartment building, excellent cash flow.
      5800 Nightingale Ave, McAllen, TX 78501
      View Details
    • $495,000

      McAllen Fourplex: Prime Investment

      Four-unit apartment building, excellent rental income.
      412 49Th St, McAllen, TX 78501
      View Details
    • $345,000

      McAllen 6-Unit Apartment Complex

      High-yield McAllen apartment building, six units.
      525 20Th St, McAllen, TX 78501
      View Details

    Similar Nearby for Sale

    • $535,000

      McAllen 5-Plex Apartment Building

      Five-unit apartment building, excellent location.
      3813 7Th Ct, McAllen, TX 78501
      View Details
    • $259,900

      McAllen Duplex: Prime Location Investment

      Two-unit duplex, excellent location, high potential.
      603 Bicentennial Blvd, McAllen, TX 78501
      View Details
    • $495,000

      McAllen Fourplex: Prime Investment

      Four-unit apartment building, excellent rental income.
      412 49Th St, McAllen, TX 78501
      View Details
    • $345,000

      McAllen 6-Unit Apartment Complex

      High-yield McAllen apartment building, six units.
      525 20Th St, McAllen, TX 78501
      View Details
    • $285,000

      Mission, TX Apartment Building Investment

      Three-unit multifamily, high rental potential
      912 29Th St, Mission, TX 78501
      View Details
    • $900,000
      3.28 Acres

      McAllen Multifamily Investment Opportunity

      3.28-Acre Lot, Prime Location, High Potential
      1401 Jonquil Ave, McAllen, TX 78501
      View Details

    Similar Nearby for Lease

    • $16 SF/Yr
      3,000 SF

      McAllen Commercial Land - Highway 83

      Prime McAllen location, 5 acres, high visibility.
      906 Us Highway 83, McAllen, TX 78501
      View Details
    • Contact for pricing
      776,961 SF

      Palms Crossing Retail Center

      McAllen, TX Lifestyle Center - Spaces Available
      3300 Expressway 83, McAllen, TX 78501
      View Details
    • $18 SF/Yr
      15,184 SF

      McAllen Retail Land Investment Opportunity

      Prime McAllen location, 2.76 acres, 170 parking spaces.
      1001 Jackson Rd, McAllen, TX 78501
      View Details
    • $18 SF/Yr
      2,450 SF

      McAllen Retail Space - 2,450 SF

      High-visibility retail space in prime McAllen location.
      1001 10Th St, McAllen, TX 78501
      View Details
    • $12,113 /Mo
      6,548 SF

      McAllen Office Space Available

      Impressive office space in McAllen's industrial park zone.
      3101 W Military Hwy, 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
    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.
    2208 Galveston Ave
    McAllen, TX 78501
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.