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Property profile & analytics
OFF-MARKET
Estimated value
$15,755,000
Office buildings
4001 23rd St Mcallen, TX 78504-4104
Entity Owned
19-yr Hold
Free & Clear
Property ID
US82-3371736
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1991
Total area
125,254 SF
Lot
15 ac (653,452 SF)
Zoning code
C
APN
N3030-00-000-0001-00
UPID
US82-3371736
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
RGV Organix Food Processing Plant
-
ICE CREAM & BANANAS Grocery & Convenience Store Specialty Food Shop
-
McAllen Public Library Public Library
-
Curative - McAllen Library Site Corporate Office
-
McAllen Farmers Market Grocery & Convenience Store Food Market
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$18.30M
Blend (final)
Blend
$15.76M
Owner & transaction history
City Of Mcallen · 19 yrs held
City Of Mcallen
since 2007
3 recorded transactions
Zoning & alternative use
C · Mcallen, TX
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$17.4M
+19.8%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Mcallen submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Mcallen submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$14,495,000
Current use
AUTO REPAIR, GARAGE
$17,365,000
Change: +20% · Conversion: Difficult
MEDICAL BUILDING
$12,255,000
Change: -15% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$11,980,000
Change: -17% · Conversion: Difficult
RESTAURANT
$11,960,000
Change: -17% · Conversion: Moderate
Blend value · Realmo final
$15.76M
Range $14.18M – $17.33M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$126 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Assessed value
$14,780,753
Assessed 2023
Previous assessed
$14,780,753
+0.0% YoY
Assessed land
$5,227,624
Assessed improvement
$9,553,129
Land market value
$5,227,624
Improvement market value
$9,553,129
Total market value
$14,780,753
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1991
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Rooms
20
Bathrooms
2
Total area
125,254 SF
Lot
15 ac (653,452 SF)
Zoning code
C
APN
N3030-00-000-0001-00
UPID
US82-3371736
Jurisdiction
HIDALGO
Zoning & alternative use
C · Mcallen, TX
Zoning C · permitted uses
C · Mcallen, TX
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Mcallen. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$14.5M
AUTO REPAIR, GARAGE
Est. value
$17.4M
MEDICAL BUILDING
Est. value
$12.3M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$12.0M
RESTAURANT
Est. value
$12.0M
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
RESTAURANT
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1991
Heating
CENTRAL
Cooling
Yes
Stories
1
Rooms
20
Bathrooms
2
Lot
15 ac
Current owner
From public records · entity-resolved
City Of Mcallen
Entity
Free & Clear · 19 yrs held
Mailing address
PO BOX 220, MCALLEN, TX 78505-0220
Ownership since
2007
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 25, 2007
—
City Of Mcallen
Wal-mart Realty
Grant Deed
—
Aug 15, 2006
—
Wal-mart Realty Co
Retail Trust II
Grant Deed
related
—
May 17, 2006
—
Wal-mart Realty Co
Wal-mart R/e Busn Trust
Quit Claim Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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