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    Property profile & analytics

    6022 23rd St Mcallen, TX 78503-8905

    • Office buildings
    • 336 SF
    • 3.00 lot acres
    OFF-MARKET
    Value Estimations
    $300,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-5686206
    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

    • Office buildings

    Property Details for 6022 23rd St

    Year built
    1972
    Lot size
    3.00 lot acres
    Property size
    336 SF
    Property type
    Office buildings
    APN
    R2950-00-004-0012-01
    APU
    R295000004001201

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $300,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Mcallen
    County
    Hidalgo
    State
    Texas
    Longitude
    -98.2549
    Latitude
    26.1534
    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
    $4,649
    $158,787
    $73,659
    $232,446
    -
    $158,787
    $73,659
    $232,446

    Comparable in this City

    • Value Estimation
      $330,000
      690 SF

      Victoria Ave

      OFFICE BUILDING • 690 SF
      Victoria Ave, Mcallen, TX 78503
      View Details
    • Value Estimation
      $220,000
      1,296 SF

      2501 Military Hwy Ste F2

      OFFICE BUILDING • 1,296 SF
      2501 Military Hwy Ste F2, Mcallen, TX 78503-8939
      View Details
    • Value Estimation
      $660,000
      3,001 SF

      2501 Expy 83

      OFFICE BUILDING • 3,001 SF
      2501 Expy 83, Mcallen, TX 78503-7801
      View Details
    • Value Estimation
      $295,000
      4,240 SF

      2113 34th St

      OFFICE BUILDING • 4,240 SF
      2113 34th St, Mcallen, TX 78503-8325
      View Details
    • Value Estimation
      $350,000
      1,376 SF

      4601 10th St

      OFFICE BUILDING • 1,376 SF
      4601 10th St, Mcallen, TX 78503-1128
      View Details
    • Value Estimation
      $290,000
      824 SF

      2901 23rd St

      OFFICE BUILDING • 824 SF
      2901 23rd St, Mcallen, TX 78503-5673
      View Details

    Similar Nearby for Sale

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      McAllen Medical Property For Sale

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    • $3,000,000
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      McAllen Hotel Investment Opportunity

      Prime McAllen hotel, 60 rooms, high growth area.
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    • $1,529,000
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      McAllen Commercial Land - $1.5M

      2.34 Acres, High Traffic, Prime Location
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    • $26,136,000
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      McAllen Commercial Land For Sale

      Commercial land on overweight corridor near international bridges.
      23rd St. & Military Hwy, McAllen, TX 78503
      View Details

    Similar Nearby for Lease

    • $1,950 /Mo
      960 SF

      Prime Retail Suite in McAllen

      960 SF commercial suite in high-traffic McAllen retail plaza.
      1410 S Jackson Rd, McAllen, TX 78503
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    • $7 SF/Yr
      22,834 SF

      McAllen Warehouse: 22,834 SF Available

      South McAllen warehouse; ideal location, ample space.
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    • $8,236 /Mo
      4,991 SF

      Class A Commercial Space

      High-end commercial space ideal for medical, legal, or professional services.
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      View Details
    • Contact for pricing
      47,434 SF

      Sharyland Professional Center: Prime Office Space

      Mission, TX Executive Suites & Creative Offices
      4101 Shary Rd, Mission, TX 78503
      View Details
    • $15 SF/Yr
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      Prime Commercial Office Space

      Executive Suites, Great Location, 1440 sq ft
      2711 23Rd St, McAllen, TX 78503
      View Details
    • $18 SF/Yr
      18,370 SF

      Medical Office Space in McAllen

      Medical office space for rent in the medical district.
      2101 S Col Rowe Blvd, McAllen, TX 78503
      View Details
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    6022 23rd St
    Mcallen, TX 78503-8905
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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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