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    407 Nolana Ave Mcallen, TX 78504-3012
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    407 Nolana Ave Mcallen, TX 78504-3012

    View on Map
    • Office buildings
    • 2,100 SF
    • 0.14 lot acres
    Off-Market
    Last Sale Apr 24, 2024
    Property ID
    US82-2577815
    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

    • Kevin's Travel Agency HQ / Travel Agency
    • Fortune Data Technology / Business Management Consultant
    • CITY EXPRESS INSURANCE AGENCY / Insurance Agency
    • CHESSANI REMODELING SERVICES / Hardware & Home Improvement / Interior Design
    • E&K income tax and notary service / Law Firm

    Property Details for 407 Nolana Ave

    Year built
    1979
    Lot size
    0.14 lot acres
    Property size
    2,100 SF
    Zone code
    C-3
    Property type
    Office buildings
    APN
    N2800-00-000-0056-00
    APU
    N280000000005600

    Description

    This McAllen, Texas property offers 12 suites in a single-story, 300-square-foot minimum divisible space, totaling 300 square feet to a maximum of 2,100 contiguous square feet within a 6,088-square-foot lot. Located at 407 W Nolana Ave, McAllen, TX 78501, this Class B building, constructed in 1979, is zoned RS and features ceramic flooring. The building is situated in a high-traffic area with diverse surrounding businesses, including medical centers and retail stores, providing excellent access to a wide range of clients and customers. Individual office spaces average 300 square feet, perfect for small businesses or professionals seeking a convenient and well-located workspace. The property offers a welcoming environment designed to impress clients and staff. This prime location provides a strategic advantage for networking and accessibility, fostering potential collaborations and partnerships. The available space is suitable for startups or established companies seeking expansion, offering a foundation for business growth and success. This is an exceptional opportunity to establish a business presence in a thriving commercial area.

    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
    -98.2178
    Latitude
    26.238
    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
    $3,675
    $101,974
    $81,760
    $183,734
    -
    $101,974
    $81,760
    $183,734

    Comparable in this City

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      1900 Nolana Ave

      OFFICE BUILDING • 19,689 SF
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    • Value Estimation by Request
      925 SF

      4106 22nd St

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      8,000 SF

      4313 10th St

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    • Value Estimation
      $1,425,000
      10,526 SF

      5300 Mccoll Rd

      OFFICE BUILDING • 10,526 SF
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    • Value Estimation by Request
      1,500 SF

      308 Nolana Ave

      OFFICE BUILDING • 1,500 SF
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      Finished Office Space Near Nolana

      Combined office units with high-end finishes, ideal for professionals.
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      High-visibility commercial property suitable for various business uses.
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    Similar Nearby for Lease

    • $26 SF/Yr
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      Prime McAllen location; versatile commercial space.
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      McAllen Office Suites For Rent

      Office suites available with shared amenities and utilities included.
      4425 Mccoll Rd N Mccoll Rd, McAllen, TX 78504
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      10,465 SF

      Medical Office Space Available

      Medical office suite for rent in McAllen, Texas.
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    • $18 SF/Yr

      McAllen Retail or Office Space

      Office or retail space with high traffic and ample parking.
      3711 N 10Th St, McAllen, TX 78504
      View Details
    • $1.40 SF/Yr
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      McAllen Retail/Office Space Available

      High-traffic location ideal for office, retail, or professional use.
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    • $1,620 /Mo
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      High-Visibility Retail/Office Space Available

      Prime McAllen location suitable for retail or office use.
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      View Details
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    Mcallen, TX 78504-3012
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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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