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

    408 Dove Ave Mcallen, TX 78504-2240

    • Medical offices
    • 3,450 SF
    • 0.19 lot acres
    OFF-MARKET
    Last Sale
    Jul 07, 2023
    Value Estimations
    $300,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-3553060
    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

    • Advanced Extremity MRI / Medical Laboratory / Mri Center

    Property Details for 408 Dove Ave

    Year built
    1999
    Lot size
    0.19 lot acres
    Property size
    3,450 SF
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    D7545-03-002-0004-05
    APU
    D754503002000405

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $330,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $271,000
      Market price range: $236k - $412k

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $340,000
      Current use
      AUTO REPAIR, GARAGE
      $480,000
      Change: +42% Conversion: Difficult
      OFFICE BUILDING
      $400,000
      Change: +18% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $330,000
      Change: -2% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $275,000
      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
    -98.2073
    Latitude
    26.2515
    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
    $6,247
    $65,520
    $246,814
    $312,334
    -
    $65,520
    $246,814
    $312,334

    Comparable in this City

    • Value Estimation
      $1,190,000
      78,524 SF

      5300 L St

      MEDICAL BUILDING • 78,524 SF
      5300 L St, Mcallen, TX 78504-6552
      View Details
    • Value Estimation
      $1,255,000
      35,703 SF

      1000 Dove Ave, Unit 1008

      MEDICAL BUILDING • 35,703 SF
      1000 Dove Ave, Mcallen, TX 78504-3974
      View Details
    • Value Estimation
      $465,000
      11,186 SF

      Mcallen, TX 78504

      MEDICAL BUILDING • 11,186 SF
      Mcallen, TX 78504
      View Details
    • Value Estimation
      $595,000
      19,386 SF

      8909 10th St

      MEDICAL BUILDING • 19,386 SF
      8909 10th St, Mcallen, TX 78504-9427
      View Details
    • Value Estimation
      $410,000
      8,128 SF

      5301 G St

      MEDICAL BUILDING • 8,128 SF
      5301 G St, Mcallen, TX 78504
      View Details
    • Value Estimation
      $335,000
      2,000 SF

      4208 23rd St

      MEDICAL BUILDING • 2,000 SF
      4208 23rd St, Mcallen, TX 78504-4107
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      0.62 Acres

      McAllen Commercial Lots: Ready to Build

      Prime McAllen lots, seller financing available.
      0 29Th St, McAllen, TX 78504
      View Details
    • $800,000
      4,963 SF

      McAllen Office Building For Sale

      Freestanding office building in North McAllen with two units.
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    • $650,000
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      McAllen Office Building For Sale

      Free-standing 4,000 SF office building in a business park.
      900 E Redbud Ave, McAllen, TX 78504
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    • $485,000

      McAllen Office Building - $485K

      Prime McAllen Office Space, Leased, High ROI
      4020 22Nd St, McAllen, TX 78504
      View Details
    • $395,000

      McAllen Commercial Land - $395K

      High-visibility lot, ideal for development.
      1425 State Highway 107, McAllen, TX 78504
      View Details
    • $949,000
      Pending

      Finished Office Space Near Nolana

      Spacious, high-end office ideal for legal or professional practices.
      1305 E Nolana Ave, McAllen, TX 78504
      View Details

    Similar Nearby for Lease

    • $24 SF/Yr
      4,104 SF

      Prime McAllen Office Space

      Class A Office Suites, 8 Units Available
      309 Nolana Ave, McAllen, TX 78504
      View Details
    • Contact for pricing
      26,748 SF

      McAllen Retail Center: Prime Location

      New Retail Space, High Traffic Area
      McAllen Tx Trenton Rd, McAllen, TX 78504
      View Details
    • $3,500 /Mo
      2,100 SF

      McAllen Office Space For Rent

      Office space for rent in McAllen, Texas.
      5300 N Mccoll Rd, McAllen, TX 78504
      View Details
    • Contact for pricing
      10,465 SF

      Medical Office Space Available

      Medical office suite for rent in McAllen, Texas.
      3220 Buddy Owens Ave, McAllen, TX 78504
      View Details
    • $26 SF/Yr
      1,320 SF

      McAllen Commercial Land & Building

      Prime McAllen location; versatile commercial space.
      7701 29Th St, McAllen, TX 78504
      View Details
    • $26 SF/Yr
      5,506 SF

      Prime Commercial Land & Office Space

      Violet Avenue Office Building - 5,506 SF
      605 Violet Ave, McAllen, TX 78504
      View Details
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    408 Dove Ave
    Mcallen, TX 78504-2240
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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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