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

    3400 23rd St Mcallen, TX 78501-6002

    • Turn key restaurants
    • 5,952 SF
    • 1.38 lot acres
    OFF-MARKET
    Value Estimations
    $505,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-4262336
    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

    • Taqueria La Mexicana / Restaurant

    Property Details for 3400 23rd St

    Year built
    2008
    Lot size
    1.38 lot acres
    Property size
    5,952 SF
    Zone code
    CO
    Property type
    Turn key restaurants
    APN
    A5500-00-000-060B-00
    APU
    A550000000060B00

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $355,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $658,000
      Market price range: $433k - $892k

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $660,000
      Current use
      AUTO REPAIR, GARAGE
      $820,000
      Change: +25% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $665,000
      Change: +1% Conversion: Easy
      OFFICE BUILDING
      $630,000
      Change: -5% Conversion: Moderate
      MEDICAL BUILDING
      $580,000
      Change: -12% Conversion: Difficult
      RETAIL STORES
      $580,000
      Change: -12% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Mcallen
    County
    Hidalgo
    State
    Texas
    Longitude
    -98.2396
    Latitude
    26.2359
    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
    $16,164
    $360,942
    $447,266
    $808,208
    -
    $360,942
    $447,266
    $808,208

    Comparable in this City

    • Value Estimation
      $735,000
      6,605 SF

      3600 Expy 83

      RESTAURANT • 6,605 SF
      3600 Expy 83, Mcallen, TX 78501-8363
      View Details
    • Value Estimation by Request
      4,570 SF

      1610 23rd St

      RESTAURANT • 4,570 SF
      1610 23rd St, Mcallen, TX 78501-6737
      View Details
    • Value Estimation by Request
      3,235 SF

      209 Bicentennial Blvd

      RESTAURANT • 3,235 SF
      209 Bicentennial Blvd, Mcallen, TX 78501-7058
      View Details
    • Value Estimation by Request
      300 SF

      214 16th St

      RESTAURANT • 300 SF
      214 16th St, Mcallen, TX 78501-5131
      View Details
    • Value Estimation
      $740,000
      6,590 SF

      3000 Expy 83

      RESTAURANT • 6,590 SF
      3000 Expy 83, Mcallen, TX 78501-8345
      View Details
    • Value Estimation
      $890,000
      8,086 SF

      600 Ware Rd

      RESTAURANT • 8,086 SF
      600 Ware Rd, Mcallen, TX 78501-8403
      View Details

    Similar Nearby for Sale

    • $860,000
      0.44 Acres

      McAllen Restaurant Net Lease

      High-yield Korean BBQ, strong lease.
      1501 23Rd St, McAllen, TX 78501
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    • $475,000
      2,940 SF

      McAllen Bar/Tavern For Sale

      Commercial bar/tavern in downtown McAllen with high foot traffic.
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    • $625,000

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      Two adjacent commercial buildings in a vibrant downtown district.
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    • $369,000
      3,450 SF

      McAllen Bar/Restaurant/Retail Opportunity

      Prime downtown McAllen location for bar, restaurant, or retail.
      113 S 17Th St, McAllen, TX 78501
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    • $525,000

      Former Bar with Event Potential

      Spacious lot ideal for weddings, dining, or live music.
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      Remodeled Commercial Building in McAllen

      Turn-key investment opportunity in McAllen's Entertainment District.
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    Similar Nearby for Lease

    • $9,873 /Mo
      24,892 SF

      Restaurant Space in Premier Plaza

      Restaurant space for lease with rooftop view in McAllen.
      101 E Expy 83 Hwy, McAllen, TX 78501
      View Details
    • $2,500 /Mo
      2,954 SF

      Prime Location in McAllen Entertainment

      High-traffic location ideal for bars, lounges, or nightlife concepts.
      202 S 17Th St, McAllen, TX 78501
      View Details
    • $7,500 /Mo
      5,637 SF

      Restaurant Space Available in McAllen

      Spacious restaurant with separate dining and bar areas.
      1100 Houston Ave, McAllen, TX 78501
      View Details
    • Contact for pricing
      8,000 SF

      Retail Space with Interstate Access

      Retail property with high visibility and easy highway access.
      1304 Expressway 83 E, McAllen, TX 78501
      View Details
    • Contact for pricing
      1,700 SF

      Retail Space on Expy 83

      Retail and restaurant spaces available near Palms Crossing.
      2600 Expressway 83 W, McAllen, TX 78501
      View Details
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    3400 23rd St
    Mcallen, TX 78501-6002
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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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