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    2804 N Ware Rd McAllen, TX 78501
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    Property profile & analytics

    2804 N Ware Rd McAllen, TX 78501

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    • Commercial land
    Off-Market
    Property ID
    US82-1071368
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial land

    Property Details for 2804 N Ware Rd

    Property type
    Commercial land
    Property subtype
    Commercial real estate

    Description

    Fantastic opportunity to own a prime commercial lot in the heart of McAllen! This lot is located on the high traffic area of Ware Road, making it an ideal location for a variety of potential uses. With its unbeatable location, this property is just minutes away from schools, expressway, shopping centers, and restaurants, providing endless possibilities for future development. Don't miss out on your chance to invest in one of the most sought-after areas in McAllen!

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    McAllen
    County
    Hidalgo
    State
    Texas
    Longitude
    -98.255547
    Latitude
    26.232925

    Comparable in this City

    • Contact for pricing

      Prime Commercial Land Available

      High-exposure commercial land at a signaled intersection.
      2817 N 29Th St, McAllen, TX 78501
      View Details
    • $18,025,000

      Prime Land Development Opportunity

      Land for development near McAllen Performing Arts Center.
      900 S Bentsen Rd, McAllen, TX 78501
      View Details
    • $599,250
      4 SF

      Thomas Road Land Opportunity

      4.290 acres of land near McColl Road.
      4.290 Acres -Thomas Rd, McAllen, TX 78501
      View Details
    • $650,000
      4.94 Acres

      Prime Land in McAllen, TX

      4.937-acre commercial land parcel in a rapidly expanding area.
      Thomas Rd, McAllen, TX 78501
      View Details
    • Contact for pricing

      22.84 Acres on McColl Road

      22.84 acres of commercial land in rapidly growing McAllen.
      0000 S Mccoll Rd, McAllen, TX 78501
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Prime Commercial Land Available

      High-exposure commercial land at a signaled intersection.
      2817 N 29Th St, McAllen, TX 78501
      View Details
    • $18,025,000

      Prime Land Development Opportunity

      Land for development near McAllen Performing Arts Center.
      900 S Bentsen Rd, McAllen, TX 78501
      View Details
    • $599,250
      4 SF

      Thomas Road Land Opportunity

      4.290 acres of land near McColl Road.
      4.290 Acres -Thomas Rd, McAllen, TX 78501
      View Details
    • $650,000
      4.94 Acres

      Prime Land in McAllen, TX

      4.937-acre commercial land parcel in a rapidly expanding area.
      Thomas Rd, McAllen, TX 78501
      View Details
    • Contact for pricing

      27 Acres on McColl Road

      27 acres of commercial land in a rapidly growing area.
      S Mccoll Rd, McAllen, TX 78501
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      McAllen Retail District Land

      Located in McAllen's busy retail district with high visibility.
      3701 Expressway 83 W, McAllen, TX 78501
      View Details
    • Contact for pricing

      Commercial Land for Lease

      Commercial land available for ground lease, prime location.
      3412 Kerria Ave, McAllen, TX 78501
      View Details
    • Contact for pricing

      Commercial Land for Lease

      Land available at a Walmart-shadowed shopping center.
      4000 N 29Th Ln, McAllen, TX 78501
      View Details
    • Contact for pricing

      Commercial Land For Lease

      Commercial land available for lease.
      2901 W Nolana Ave, McAllen, TX 78501
      View Details
    • Contact for pricing

      Commercial Land for Lease

      Commercial land available for lease with multiple pad sites.
      3304 Kerria Ave, McAllen, TX 78501
      View Details
    • Contact for pricing

      Commercial Land For Rent

      Commercial land available for rent with high traffic frontage.
      7412 N 23Rd St, McAllen, TX 78501
      View Details
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    2804 N Ware Rd
    McAllen, TX 78501
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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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