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    Property profile & analytics

    2246 Nolana Ave Mcallen, TX 78504-4125

    • Strip malls
    • 29,823 SF
    • 4.52 lot acres
    OFF-MARKET
    Value Estimations
    $3,960,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-4014229
    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

    • ArmsOfHope Drop Box Only / Charitable Organization
    • 99 Cents Only Stores / Discount Store

    Property Details for 2246 Nolana Ave

    Year built
    1984
    Lot size
    4.52 lot acres
    Property size
    29,823 SF
    Zone code
    CG
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    N3040-00-000-0001-00
    APU
    N304000000000100

    Description

    This exceptional 4.519-acre property at 2246 W Nolana Avenue in McAllen, Texas, presents a prime retail or corporate office opportunity. The site boasts a substantial 24,000 square foot single-tenant building, previously occupied as a grocery store, offering significant potential for redevelopment or continued use. Its strategic location on the northeast corner of Nolana Avenue and 23rd Street ensures high visibility and accessibility, benefiting from substantial traffic flow. The ample 200-space parking lot provides convenient customer and employee parking. The property's APN is N304000000000100. This is a single-tenant building on a large lot, ideal for a variety of commercial uses. The existing structure provides a solid foundation for immediate occupancy or a comprehensive renovation project. The property's size and location make it an attractive investment for businesses seeking a prominent presence in a thriving McAllen market. This is a rare opportunity to acquire a well-positioned commercial property with significant upside potential. Serious inquiries are encouraged.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $3,831,000
      Market price range: $1.71M - $3.83M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $2,855,000
      Current use
      AUTO REPAIR, GARAGE
      $4,135,000
      Change: +45% Conversion: Difficult
      OFFICE BUILDING
      $3,450,000
      Change: +21% Conversion: Moderate
      MEDICAL BUILDING
      $2,920,000
      Change: +2% Conversion: Difficult
      RESTAURANT
      $2,850,000
      Change: -0% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Mcallen
    County
    Hidalgo
    State
    Texas
    Longitude
    -98.2383
    Latitude
    26.2416
    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
    $85,650
    $1,377,922
    $2,904,557
    $4,282,479
    -
    $1,377,922
    $2,904,557
    $4,282,479

    Comparable in this City

    • Value Estimation by Request
      722 SF

      4012 22nd St

      SHOPPING CENTER, STRIP CENTER • 722 SF
      4012 22nd St, Mcallen, TX 78504-4101
      View Details
    • Value Estimation
      $2,460,000
      44,034 SF

      6500 10th St

      SHOPPING CENTER, STRIP CENTER • 44,034 SF
      6500 10th St, Mcallen, TX 78504-2108
      View Details
    • Value Estimation
      $1,370,000
      10,059 SF

      6421 10th St

      SHOPPING CENTER, STRIP CENTER • 10,059 SF
      6421 10th St, Mcallen, TX 78504-0016
      View Details
    • Value Estimation
      $1,635,000
      12,325 SF

      7501 10th St

      SHOPPING CENTER, STRIP CENTER • 12,325 SF
      7501 10th St, Mcallen, TX 78504-7720
      View Details
    • Value Estimation
      $1,460,000
      21,252 SF

      2812 Nolana Ave

      SHOPPING CENTER, STRIP CENTER • 21,252 SF
      2812 Nolana Ave, Mcallen, TX 78504-4185
      View Details
    • Value Estimation
      $1,265,000
      9,343 SF

      5723 10th St

      SHOPPING CENTER, STRIP CENTER • 9,343 SF
      5723 10th St, Mcallen, TX 78504-2999
      View Details

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    Similar Nearby for Lease

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      2,056 SF

      Retail Space in High-Traffic Area

      Retail space available in a Walmart shadow-anchored shopping center.
      2812 W Nolana Ave, McAllen, TX 78504
      View Details
    • Contact for pricing
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      Retail Space on Nolana Avenue

      Retail space with high visibility and easy access.
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      Northcross Shopping Center Retail Space

      Retail spaces available in Northcross Shopping Center, McAllen, Texas.
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      1,782 SF

      Retail Space in North McAllen

      1,782 SF retail space in a busy shopping center.
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    Mcallen, TX 78504-4125
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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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