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

    2900 Nolana Ave Mcallen, TX 78504-4589

    • Grocery and convenience stores
    • 4,588 SF
    • 1.27 lot acres
    OFF-MARKET
    Value Estimations
    $530,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-3505690
    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

    • Stripes #2273 / Convenience Store / Gas Station
    • Western Union / Money Transfer Service
    • 24/7 Tow Truck McAllen TX - Towing Service / Towing Service
    • Redbox / Movie Rental Store / Movie Rental Kiosk

    Property Details for 2900 Nolana Ave

    Year built
    2004
    Lot size
    1.27 lot acres
    Property size
    4,588 SF
    Zone code
    CO
    Property type
    Grocery and convenience stores
    APN
    J1960-00-000-0001-00
    APU
    J196000000000100

    Description

    This exceptional 5.46-acre commercial land parcel in McAllen, Texas, presents a remarkable investment opportunity. Located at the intersection of 29th Street and Nolana Avenue in Hidalgo County, zip code 78504, this property boasts unparalleled visibility from Nolana Avenue, a major thoroughfare. The asking price is $2,400,000, translating to a land value of $10 per square foot. The site's strategic position ensures high traffic volume, further enhanced by its proximity to McAllen's Public Library and a cluster of established businesses. These include Dunkin' Donuts, Jersey Mike's Subs, Take 5 Oil Change, McDonald's, Starbucks, Walmart, Chick-fil-A, Chase Bank, Jack in the Box, and BlueWave Carwash, creating a vibrant and densely populated commercial area. This pad site is ready for development and offers significant potential for a variety of commercial uses, capitalizing on the existing high foot traffic and strong brand recognition of neighboring establishments. The property's location ensures easy access and exceptional visibility, making it an ideal location for businesses seeking high exposure and a thriving commercial environment. This is a rare opportunity to acquire a prime commercial land parcel in a rapidly growing area of McAllen.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $415,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $639,000
      Market price range: $385k - $639k

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $440,000
      Current use
      AUTO REPAIR, GARAGE
      $635,000
      Change: +45% Conversion: Difficult
      OFFICE BUILDING
      $530,000
      Change: +21% Conversion: Moderate
      MEDICAL BUILDING
      $450,000
      Change: +2% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $365,000
      Change: -17% Conversion: Easy
      RETAIL STORES
      $355,000
      Change: -19% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Mcallen
    County
    Hidalgo
    State
    Texas
    Longitude
    -98.2479
    Latitude
    26.2419
    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
    $20,734
    $662,448
    $374,246
    $1,036,694
    -
    $662,448
    $374,246
    $1,036,694

    Comparable in this City

    • Value Estimation by Request
      0.43 Acres

      3620 Buddy Owens Blvd

      Automotive properties • 2,631 SF
      3620 Buddy Owens Blvd, McAllen, TX 78504
      View Details
    • Value Estimation by Request
      25,000 SF

      3609 Tx-107

      Restaurants • 25,000 SF
      3609 Tx-107, McAllen, TX 78504
      View Details
    • Value Estimation
      $235,000
      792 SF

      2208 Dove Ave

      CONVENIENCE STORE • 792 SF
      2208 Dove Ave, Mcallen, TX 78504
      View Details
    • Value Estimation
      $365,000
      2,744 SF

      621 Nolana Ave

      CONVENIENCE STORE • 2,744 SF
      621 Nolana Ave, Mcallen, TX 78504-2569
      View Details
    • Value Estimation
      $1,015,000
      30,470 SF

      5800 10th St Ste, Unit 200

      GROCERY, SUPERMARKET • 30,470 SF
      5800 10th St Ste, Mcallen, TX 78504-3996
      View Details
    • Value Estimation
      $435,000
      6,844 SF

      1901 Dove Ave

      CONVENIENCE STORE • 6,844 SF
      1901 Dove Ave, Mcallen, TX 78504-0560
      View Details

    Similar Nearby for Sale

    • $750,000
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      McAllen Commercial Building on Corner

      Free-standing commercial building with high visibility and traffic counts.
      3620 Buddy Owens Ave, McAllen, TX 78504
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    • Contact for pricing
      25,000 SF

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    • $399,000
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      Turnkey Salon in High-Traffic Area

      Ready-to-operate salon with rental suites and expansion potential.
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      Town & Country Shopping Center

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    • $2,050,000
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      Located in McAllen's premier retail corridor with high visibility.
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    Similar Nearby for Lease

    • $18 SF/Yr
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    • $2.00 SF/Yr
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    • $1.45 SF/Yr
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      Retail Space on Nolana Avenue

      Retail space with high visibility and easy access.
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    • $24 SF/Yr
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      Retail Space on Prime Corner

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    • $7,724 /Mo
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    • Contact for pricing
      41,138 SF

      Nolana Retail Center Investment

      Prime McAllen retail space, 7 suites available.
      0 Nolana Loop & 29 St Nolana, McAllen, TX 78504
      View Details
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    2900 Nolana Ave
    Mcallen, TX 78504-4589
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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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